Showing posts with the label NASDAQ

Market Insights: Evaluating Nasdaq's Unexpected Bullish Turn and Potential Correction.

The Nasdaq index has experienced a strong upward trend and a rebound trajectory this week, leading to the current state where the weekly trend has entered the Bullish zone. It is anticipated that the weekly trend will continue within the Bullish zone for the foreseeable future. Moreover, the previously consistent prediction of a downward trend entering from mid-November, characterized by a weakening buying strength and strengthening selling pressure, is expected to undergo some modifications. While it is challenging to determine whether this week's trend is a temporary strong upward movement, based on the volatility observed this week, there is a possibility that the gradual trend with mild buying strength may persist for another 1-2 weeks. However, as it appears to be a point where a peak is forming and the trend has entered the Bullish zone instead of the predicted downward trend, a transition to a correction trend is anticipated. If next week shows a marginal or limited upward m

NASDAQ's Recent Trends: Weakening Buy Strength and Anticipating a Downward Shift.

The NASDAQ daily index entered the Bullish zone seven days ago, signaling the initiation of an upward trend. However, in recent times, it has displayed a corrective trend. Since last Friday, there has been a notable surge in a robust upward momentum attempting to re-enter the bullish trend. Nevertheless, the current state of the market indicates that the buying strength is significantly weak for a complete transition into an upward trend. Additionally, looking at the projected trend, it appears challenging for the market to shift back into a bullish trend. As we approach mid-November this week, there is a noticeable weakening in buying strength compared to previous weeks, and even if a strong uptrend emerges, there is a high likelihood that it may be temporary. Overall, the prevailing condition suggests a strong selling pressure, indicating the continuation of the correction trend with a gradual increase in the magnitude of the decline. This trend is expected to persist, and there is a