NASDAQ Normal volatility. Bullish trend intact.Nasdaq (NDX) gave as the ultimate bottom signal on our buy call 2 weeks ago (see chart below) and staged a massive recovery from July's correction:
Right now it tested and held the 1D MA50 (blue trend-line) as a Support, establishing the new demand zone. During the previous Bullish Legs of the nearly 2-year Channel Up, when the price action remained above the 1D MA50, Nasdaq extended to a new Higher High on that pattern.
We may face some minor volatility for max a week, as the index encountered during the first to Bullish Legs but we should soon test the Inner Higher Highs trend-line, which most likely will see us reach our first Target of 20900.
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