Long term outlook for Nasdaq
After the V bottom recovery and FEDs printing unlimited amounts of money to keep the market up. Finally seeing the market exhausting.
Clues we have for a bearish Bias is
- Break of long term up trend line
- Following the break we form a LH
- Market gives a strong rally up but is met with a strong decline suggesting its a last push.
Right now
We are at a strong support area and is proving to hold up price.
Senario 1
The support holds and we see a recovery from here. (HHs and HLs)
Senario 2
Break support (120 price region) and have a huge sell off.
The next likely area of strong support is at the $100 area
Stay safe guys
Clues we have for a bearish Bias is
- Break of long term up trend line
- Following the break we form a LH
- Market gives a strong rally up but is met with a strong decline suggesting its a last push.
Right now
We are at a strong support area and is proving to hold up price.
Senario 1
The support holds and we see a recovery from here. (HHs and HLs)
Senario 2
Break support (120 price region) and have a huge sell off.
The next likely area of strong support is at the $100 area
Stay safe guys
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