The Bulls are back - again... and again... and...
The bearish reversal in the NASDAQ was short-lived: Just before the release of NVIDIA's quarterly earnings, the market began to turn around. When the chipmaker - once again - exceeded the market's expectations, the bulls were unstoppable.
Are there reasons to believe that the rise is a flash in the pan? None that are reasonable! Although there is always a certain risk of falling prices (which is controlled with a stop loss), market sentiment is extremely positive.
Therefore, we expect the NASDAQ to reach new highs in the coming days and weeks, around 18,700 points and perhaps slightly higher.
Are there reasons to believe that the rise is a flash in the pan? None that are reasonable! Although there is always a certain risk of falling prices (which is controlled with a stop loss), market sentiment is extremely positive.
Therefore, we expect the NASDAQ to reach new highs in the coming days and weeks, around 18,700 points and perhaps slightly higher.
Comment:
It should be noted that the NASDAQ rebounded almost exactly at the 'old' all-time high today. However, it's worth considering that tomorrow is Friday and the market often continues the weekly trend on Fridays. So, there's no reason to assume that the market will significantly decline tomorrow (today in Europe and Asia).
Comment:
Removed some disturbing divergences. Should recover soon
Comment:
Works as expected so far
Comment:
Wolfe Wave on M5 indicates a gap down next Monday, then up
Comment:
After prices corrected since last Friday, this correction phase ended with a contracting diagonal. A new upward movement is in the starting blocks, and we can expect the NASDAQ to rise to at least 18,550 points before a new, probably also rather small correction sets in.
Comment:
Don't get scared by temporary retracements. We are still en route.