Nasdaq high is set? Part 3
Updated
Nasdaq has just been unstoppable lately, as i described in my sp500' analysis. That wedge from the previous analysis, was text book, even better than text book. This shows that how great TA can be sometimes, it can also be completely meaningless. It's part of the game, something we need to accept. All of this is just about exhausting bears until they give up. It will drop when bears give up, because without those bears shorting, there is simply no fuel left to push it higher. So normally we should see a sharp decline coming days. If we see a slow drop like the blue line, i would be careful with short positions. If we do see a good drop tomorrow, than we could see some real follow through for the first time since Dec.
Previous analysis:
Previous analysis:
Note
So far so good, compared to past month, each bounce up gets sold, so tables might have turned this time. However, the 3800/3850 zone (if we get there) would be a level to take some profits, i don;t think we will see a big dump yet.Note
Haha Bitcoin prices, its 6800/6850 :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.