I posted on 7th July that there was a potential bullish divergene on the monthly chart of Nasdaq, and it has since come true. What is interesting is that we are now seeing a potential "tweezer bottom" on the monthly as well (both bullish).
The daily chart has been trading within a rising channel. With FOMC out of the way, there is a good chance for NQ to reach 13000 in the near future. Has the market turned the corner for good after hitting a low of 11,000 on 16 June? We won't know for sure but I would be a bull rather than a bear in the near term. Watch for market reactions to earnings of the big boys (namely FAANG stocks and take the cue from there.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
The daily chart has been trading within a rising channel. With FOMC out of the way, there is a good chance for NQ to reach 13000 in the near future. Has the market turned the corner for good after hitting a low of 11,000 on 16 June? We won't know for sure but I would be a bull rather than a bear in the near term. Watch for market reactions to earnings of the big boys (namely FAANG stocks and take the cue from there.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!