Weekly chart:
The Nasdaq 100 remains in an uptrend and was even able to form a new point two at 4729 points. Accordingly, the last correction zone runs between 4685 and 3903 points. This is a very large correction zone, in which the market could also proceed sideways for quite some time still. Alternatively, the Nasdaq could advance directly onwards and continue its uptrend.
Daily chart:
In the daily chart we can also see a valid uptrend, which is, however, very far into the movement. This uptrend’s correction zone begins at 4440 points and ends at 4040 points. Until there, therefore, the index still has a lot of space in order to correct. At the moment, there are no trading chances available in this trend size.
Hourly chart:
The initiated correction in the daily chart is showing itself as a valid downtrend in the hourly chart, which is itself now in the correction. The last correction zone runs between 4673 and 4712 points. In this trend size, the chances are momentarily on the lower side, especially considering that the superior trend has considerable potential for setbacks.
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Markus Gabel
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