Ustech
USTech100 (NASDAQ)In the Nasdaq, too, a further high currently seems more likely than the direct way down. But also here I would like to emphasize again that this is not a necessary and the last posted count until the break of the high is still valid. In the yellow y, we have already left the 1.00 extension behind us. However, I have noticed that unlike in many other markets, the Nasdaq often runs to the area between the 1.272 and the 1.382 extension to complete a wave. Unfortunately, I can no longer draw in smaller units, as the white letters already represent the minus scale degree. Therefore, just think here another abc of which the c wave is still outstanding. Target here would be the area between 13340 and 13609.
NASDAQ 100 (USTech100)The Nasdaq may now have finally ended its upward momentum that began in 1985. The mandatory target of the superior wave 2, which should have been started now, is the 38.2 retracement of the entire movement and is currently at 8125. The downward movement since the high can be counted as a five-wave and thus represents a first important indication for the correction that is now starting to take place.
USTECH (30m) - potentially bearishNo promises on this one - I can't. This is one to watch.
Tech stocks have been in a bit of a problem, not benefiting from hopes of a vaccine for COVID-19.
After all, tech was feeding off the pandemic in various ways. Tech and the virus are basically friends. So if the vaccine would limit or kill the pandemic, that's not good for tech stocks in general.
We're could see what's known as 'sector rotation' (read up).
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