Short

Nasdaq - Here we finally go!

Updated

is finally rejecting the resistance and creating the anticipated bearish correction.

Let me just put it that way: The correction was 100% anticipated and you can definitely then trade accordingly. Just a couple of weeks ago the Nasdaq retested a resistance which has been pushing price lower for 14 years - a correction was very likely. So far the Nasdaq is dropping significantly but I don't think that the current correction will actually be over soon...

Levels to watch: $16.000

Keep your long term vision,
Philip - BasicTrading

Trade active

Quick update on the Nasdaq:

After we already saw a harsh drop over the past two weeks, it is quite likely that the Nasdaq will again suffer from some short term weakness. Maybe not this or next week, but eventually we should see another move lower, breaking this monthly candle low.

Levels to watch: $18.500, $16.000

Click chart above to see the detailed analysis

Trade active

Trading update on the Nasdaq (NDQ):

Click chart above to see the detailed analysis👆🏻

Nothing is actually somewhat concerning because the Nasdaq is simply retesting and rejecting structure. Bearish confirmation was created last month and a move back to the previous all time highs seems inevitable. But it is still an overall bullish market.

Levels to watch: $16.000

Keep your long term vision,
Philip (BasicTrading)

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