Weekly chart:
The Nasdaq is continuing to flow in a stable uptrend. Currently, the index seems to be stabilizing itself at the last point two at 4555 points. The first new attempts at a movement are up and running, but are still having difficulty. The odds, however, are still on the upper side.
Daily chart:
The Nasdaq was able to stabilize itself in the last correction zone (red rectangle) at the 20 LP. First attempts at a new movement were abandoned once more, but nonetheless, the chances are still on the upper side in this trend size, too.
Hourly chart:
In this image we can see very nicely how the market actually rebounded upwards at the 20 LP from the daily chart. Currently, however, we are still located in a downtrend, which should first be replaced by a new uptrend. In this case, there would be a good chance for a long trade.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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