Bullish outlook is still in place for a while to come, and the instrument has an honest attempt of hitting new all-time highs. The model suggests that the highs at the end of 2021 are currently vulnerable to challenge with potential as previously indicated for a new ATH.
The index has been bullish from the start of the year, but it actually kicked off in October 2022 with an influx and continuation of considered interests.
Except for a notable downturn that lasted nearly the whole year of 2022, the Nasdaq has been rising steadily for all of time. Technical analyses maintain that prices are currently in a make-or-break situation due to the immediate challenge of the big decline in 2022, But that at these current levels, there should be sufficient drive to continue the ascent to new highs in form of a bullish stretch/ductility.
As with any new ATH, some type of collapse will become unavoidable, driving prices down, back to current levels and inherently giving Sellers a last ditch opportunity to address difficulties. This assumes that the projected ATH is reached, at which point more data analysis will be carried out.
If the scenario described above doesn't occur, a crash becomes possible with 15500 being the area of immediate interest.
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Observe your DD, it's merely a vista!
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Tiny Lots long intiallly...
Tiny Lots long intiallly...
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Looking good the Nasdaq from the entry view..
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Rejection at the immediate area of interest that was previously mentioned. Possible bullish reactions in the area highlighted in the H4 chart below...
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Oh! Nas 100
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Festive cheer! Long time coming this new ATH on the Nas 100