Nasdaq is no doubt in a bull market even though it has ranged for the past 2 months and seems to be breaking lower.
However, it has repeatedly create a new wave of rally every times it reaches the black MA, rebounded off, then retest again before it really takes off.
As of now, the market has completed a retest and we are seeing a rebound again which may very well be the beginning of yet another rally to a new high.
This week, we will focus on buying, likely to buy at the beginning as we are expecting little to no retracement before it reaches 16300.
However, it has repeatedly create a new wave of rally every times it reaches the black MA, rebounded off, then retest again before it really takes off.
As of now, the market has completed a retest and we are seeing a rebound again which may very well be the beginning of yet another rally to a new high.
This week, we will focus on buying, likely to buy at the beginning as we are expecting little to no retracement before it reaches 16300.