Makes sense for NASDAQ:NDX to get a bounce here as it is at the 1st Support level after the December breakout & it is Oversold. NASDAQ:QQQE = Equal Weight #NASDAQ100 Never broke its ATH & it is Oversold on the daily chart. Weekly charts put it in the middle of the range. RSI needs to stay here to remain bullish. $ Flow has slowly waned.
You don't need to believe in fairytales to realize that there are kings, queens and peasants. As if not a single day has passed since the Medieval times. Poor get poorer, and rich get richer. As the folklore said, the emperor decided that he needs new clothes. And so he demanded from the entire kingdom that he finds the finest. Two swindlers arrive at the...
The Nasdaq made a new 52 week high. can we officially say we entered a new bull market?
Here is a multi year downtrend of the $NDXE/$NDX (log chart). It flipped the 50 week MA as support and closed last week above the downtrend line. This could suggest a relief rally in tech or a slowdown in FATMANG (FB, AAPL, TSLA, MSFT, AMZN, NVDA, GOOG). I favor the former.