NDX: Some scenarios to work with from now!
Hello traders and investors! Let’s see how the NDX is doing today!
It is underperforming the SPX, but that’s fine, we are almost defeating the ATH again, but there are some points we must stay alert.
First, if the index defeats today’s high tomorrow, and fills the gap, probably we’ll see a new record high here, and the bull trend will remain intact. What could spoil the movement is if the index loses the purple trendline, along with today’s low.
If this happens, we’ll see the NDX at the red line around 13,700 again. In addition, the market may see this movement as a false breakout from the black line at 14,072 (April’s high), and this won’t be good.
In this case, the NDX would probably keep accumulating for a few weeks, before it can do anything good again.
Either way, despite the fact it is near the ATH, I see several opportunities around the market, and I can assure you: We have some great stocks, trading below their fair value thanks to the tech stocks sell-off seen this year. My followers have access to them and much more!
And if this analysis helped you, remember to follow me here on Tradingview to keep in touch with my free analysis. Also, remember to support this idea if you liked it!
Thank you very much!
It is underperforming the SPX, but that’s fine, we are almost defeating the ATH again, but there are some points we must stay alert.
First, if the index defeats today’s high tomorrow, and fills the gap, probably we’ll see a new record high here, and the bull trend will remain intact. What could spoil the movement is if the index loses the purple trendline, along with today’s low.
If this happens, we’ll see the NDX at the red line around 13,700 again. In addition, the market may see this movement as a false breakout from the black line at 14,072 (April’s high), and this won’t be good.
In this case, the NDX would probably keep accumulating for a few weeks, before it can do anything good again.
Either way, despite the fact it is near the ATH, I see several opportunities around the market, and I can assure you: We have some great stocks, trading below their fair value thanks to the tech stocks sell-off seen this year. My followers have access to them and much more!
And if this analysis helped you, remember to follow me here on Tradingview to keep in touch with my free analysis. Also, remember to support this idea if you liked it!
Thank you very much!
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