Is the correction over for Nasdaq?
Many of you are wondering if this correction on stocks is really over and we will be heading to all time highs again! That 23% correction wasn't some small move, we clearly broke the trend line and we are in a really dangerous position technically and fundamentally(inflation, increase in interest rates, war...). However, the market recovered really quick and we bounced like 14%. As you can see in my chart I expect a rejection from maximum 14.9-15.3k area(red trend) and continue the down momentum and head on to 3 levels where the buy opportunity is really serious and a chance that we can't miss again. First buy is at 12.1-12.4k(yellow trend+green support) level, second one is at the 0,61 fib level at 10.5k and the final zone is at 9.3-9.8k. Breaking 15.3k and staying above it would minimize the chance of a second correction by a big percentage and nobody can know where we will get a discount on nasdaq again.
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