What to do now with Nasdaq?Price is now kind of stuck in a symmetrical triangle pattern where it could hit either way, up or down. For it to go up higher, the price must close above 104.57 which I think it will.
Another possibility is it could also hit lower first before trending higher. That would means it would hit 102.85 as the first support. If this support level holds, then we can expect it to continue its upward trend.
The usual rules apply - the higher level you buy, you must be prepared for correction, which means suffering a temporary loss. Staring at your portfolio in the red is not a good feeling and that itself can make traders do illogical thing like cutting their loss only to see the next few days, it went the opposite direction.
So, if you want to buy, wait for it, don't just rush for it. Stay safe in the game!
