NDX Still has some legs
NDX on a technical basis still looks as if it has another 3-5 percent to give and is especially apparent when cross-referenced to Copper which is approaching a resistance area.
I suspect that we will see a 15-20% (inline with market maker estimates) correction soon beginning around July 17th +/- at which point the Nasdaq will re-establish its pre-covid trend lines and channel upward for a end of year target of approximately 10,050.
I drew in some price action based on fibonacci retracements to simulate the price action I am anticipating.
Trade carefully, these are just my ideas and you should trade at your own discretion!
I suspect that we will see a 15-20% (inline with market maker estimates) correction soon beginning around July 17th +/- at which point the Nasdaq will re-establish its pre-covid trend lines and channel upward for a end of year target of approximately 10,050.
I drew in some price action based on fibonacci retracements to simulate the price action I am anticipating.
Trade carefully, these are just my ideas and you should trade at your own discretion!
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