An anticipated rally for Nas100 as $15,000 is the Target
Updated
An anticipated rally for Nasdaq 100 within these two weeks as the $15,000 level has become a clear target
As bearish it sounds in the mind of traders as more bullishness is anticipated based on the price action.
I might agree with some technical analysts that this has nothing to do with intuitive or feeling, well it’s true but let me know since when did US indices have stopped surprising us and since when did it become rational in reasonable fundamental where the price goes the opposite direction of where it intends to go. look at the pandemic for an instant, look at the Ukraine war and other major events
But sometimes fundamentals can be made-up in order to support price action.
unfortunately, when we believe something to be true we can make up the fundamentals to make it happen.
Perhaps all the recent news, and info, that has been feeding to enforce this idea that we are going to a recession, and most of the technical indicators, moving average and the broken trend line all indicate that the price has furthermore to continue to the downside!!!
With the market notion set for a bearishness, it is a perfect setup for a bullish rally as the $15,000 level becomes an obvious target for NASDAQ 100.
Yes, I am aware of what it been said about the “Recession” but even if there will be a "RECESSION" we might don’t have to worry about its effect on the market till the end of July.
Now, the previous early rally on 26 May 2022 was anticipated as a short bounce in the market and if we are supposed to have a rally in the same liquidity zone we might need another leg to set it up, and this is what the price did exactly.
This anticipated rally might not happen overnight the price might consolidate for about a week between $11,576 and $12,075.
$11,688 looks like very good support. and we might have a short decent pump on before or after juneteenth day toward the $12,500 ( expected 5% rally) and then a-cool off after that for about 3-4 days to find a launch pad in the previous consolidation zone to set its marathon setup to the 15k at the end of July.
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