Nasdaq’s Next Move Revealed This Week – Don’t Miss the Breakout Following a strong surge at the start of the trading week, the Nasdaq reached a new high since March 26th. At this juncture, I anticipate a potential pullback before any sustained upward movement. My analysis suggests monitoring for a retracement to the New Week Opening Gap (NWOG), where price action will likely provide critical insights. I see two probable scenarios:
1. A move to the NWOG, followed by a strong bounce, potentially targeting a new all-time high, as some market commentators have suggested.
2. A weak reaction at the NWOG, leading to a breakdown below this level, with 16,000 as the next key support target.
This week's price action will be pivotal in determining the Nasdaq's near-term direction. I recommend close observation of these levels and disciplined risk management when positioning for either outcome.
