Nasdaq short term outlook
Has been trading in a rising wedge last 4 days. I got conformation with the pullback and rejection towards the end of Friday big rally. Monday possible top could be 14105 Channel top (Green line).
This week should be interesting with big tech earnings in play. Keep in mind Powell speaks Wednesday and will be addressing Interest rates and future Tax hikes.
I know this is short term but I'd like to point out the RSI movement on IXIC. since January 25 RSI high there has been a noticable downtrend Starting with Feb 12th correction kick off. Coming off of March 4th lows there has been 2 failed attempts to break through that down trend on dates April 13th and 16th. I think this downtrend resistance is key to future ATH.
Side note, not all tech will benefit from a rally. Most of the money will becoming in on Faang stocks. Tqqq Calls are the easiest play if your bullish.
Good luck. lose your opinion not your money
This week should be interesting with big tech earnings in play. Keep in mind Powell speaks Wednesday and will be addressing Interest rates and future Tax hikes.
I know this is short term but I'd like to point out the RSI movement on IXIC. since January 25 RSI high there has been a noticable downtrend Starting with Feb 12th correction kick off. Coming off of March 4th lows there has been 2 failed attempts to break through that down trend on dates April 13th and 16th. I think this downtrend resistance is key to future ATH.
Side note, not all tech will benefit from a rally. Most of the money will becoming in on Faang stocks. Tqqq Calls are the easiest play if your bullish.
Good luck. lose your opinion not your money
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