NASDAQ The 3 Phase of its Bull Cycle.Nasdaq (NDX) had a strong closing last week, rallying aggressively after cementing the 4H MA50 (blue trend-line) as Support. As the market will stay closed today on Washington's Holiday, it is a good opportunity to take the time and look at the bigger picture.
Nasdaq's whole Bull Cycle so far since the late 2022 market bottom, can be categorized into 3 separate Phases of Growth. Right now we are naturally on the 3rd and as you see, compared to the previous Phases, we are on the 2nd accumulation of the Phase. This has led on a strong rally of at least +22% that completed each Phase.
Each Phase has two such accumulations and the 2nd is what makes the Channel Up peak and then correct back to the 1D MA200 (red trend-line). Since the final accumulation rally of Phase 1 has been +25.78% and the one of Phase 2 +22.13%, we may have a -3.50% decrease rate between each Phase rally. Assuming this to be the case this time around too, we may be looking for a +18.60% rally at 24000 to complete Phase 3.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
