Nasdaq monthly chart? What is it saying

Nasdaq monthly chart

Nasdaq Monthly Chart Outlook

Dec 25, 2022

If the markets follow the projected path from October, a test of the 9,900 to 10,500 ranges will probably mark a bottom. In other words, if they follow the 1973-74 pattern, a test of the above ranges will make for an enormous opportunity (the purple support line in the 1st part of the chart). Will the Nasdaq follow this path; nothing is written in stone. However, if it were to happen, it would provide a mouth-watering opportunity for Tactical Investors. Market Update September 11, 2022

The above objectives were satisfied. It dipped to the low 10K ranges and held. Shortly after that, it reversed course and started to trend higher. In November, the Nasdaq experienced two blistering rallies, so it is now paving the way for a test of the 12,300 to 12,600 range. There is a good chance that a close at or above 12,600 will pave the way to take out its Aug highs.

nasdaq chart

Other excerpts from recent issues prove that it pays to buy the fear

While it looks like the Dow lost a lot of weight, it shed less than 700 points since the last update. On August 9, it was roughly at 32,800. Risk takers should have opened up longs. Market Update August 27, 2022

Short term, the markets are entering a corrective phase; the SPX has hit short-term targets. Former support points turned into resistance which should turn into zones of support again, albeit on a short-term basis. The likely pullback targets fall in the 3960 to 4020 with a decent chance of overshooting as low as 3870. Market Update August 2, 2022

It traded as low as 3,886, so it traded below the low end of the official suggested range by roughly 70 points. The markets should continue rallying as the selling pressure is easing, bearish readings are high, the masses are unsure, and the dollar is close to putting in a short-term top. Market Update September 11, 2022

Risk takers should continue holding until the Dow tests the 33,600 to 34K ranges and the Nasdaq trades to 13,500. At that point, all the higher-risk positions opened should be closed. You can also modify this trade in line with your trading style. Market Update September 11, 2022

FAQ

Q: What is the projected path for the markets from October?
A: The projected path suggests a potential test of the 9,900 to 10,500 ranges, marking a bottom if following the 1973-74 pattern.

Q: Will the Nasdaq follow this path?
A: There is no certainty, as nothing is written in stone. However, if it were to happen, it could present an opportunity for Tactical Investors.

Q: What were the recent objectives and outcomes?
A: The markets dipped to the low 10K ranges, held, and then reversed course. In November, the Nasdaq experienced two strong rallies, paving the way for a potential test of the 12,300 to 12,600 range.

Q: What does recent data suggest about market behaviour?
A: Recent data indicates that buying during fear has proven beneficial. Despite the appearance of a significant drop, the Dow only shed less than 700 points since the last update.

Q: What is the short-term outlook for the markets?
A: The markets are entering a corrective phase, with the SPX hitting short-term targets. Former support points have turned into resistance, which may become support zones again on a short-term basis. The likely pullback targets range from 3960 to 4020, with a possibility of dipping as low as 3870.

Q: What was the market reaction in September?
A: The market traded as low as 3,886, falling below the suggested range by approximately 70 points. However, a continued rally is expected with easing selling pressure, high bearish readings, uncertain sentiment, and the dollar nearing a short-term top.

Q: What is the recommended approach for risk-takers?
A: Risk takers should continue holding positions until the Dow tests the 33,600 to 34K ranges and the Nasdaq reaches 13,500. At that point, it is advisable to close higher-risk positions or adjust the trade based on individual trading styles.

Other Articles of Interest

Dry Bulk Shipping Market trends and forecasts

The Global Dry Bulk Shipping Market: Opportunity or Punishment?

The Global Dry Bulk Shipping Market: Trends and Forecasts Oct 13, 2023 Introduction: In the expansive realm of the global ...
Russell 2000 ETF

The Russell 2000 ETF: Your Gateway to the World of Small Stocks

October 11, 2023 Your Passport to Profits Outside Large-Cap Country Introduction When most people think of investing in the stock ...
Unlocking the Secrets to Stock Market Success: Strategies for Prosperity

Effective Strategies for Enhancing Stock Market Success

 Stock Market Success: Strategies To Supercharge Returns Oct 9,2023 Introduction Achieving stock market success and supercharging returns requires careful planning, ...

Current News Transforms into Thrilling Garbage News!

Garbage News: When Information Overwhelms Quality Oct 8, 2023 Introduction: In today's digital age, news shapes our understanding of the ...
The Retirement Lie

Happy Retirement: An Unattainable Dream for Many

Happy Retirement vs Early Retirement Updated Oct 7, 2023 Retiring early may sound enticing, but it isn't always the wisest ...
The China USA War: Examining the Trade War's Impact on Global Economy

The China USA war: The Trade War of the Century.

The China USA War: Unraveling the Trade War of the Century. Oct 7, 2023 Introduction: The global economic landscape has ...
Stock Price of MSFT For The Next Few Years

Stock Price of MSFT: Projections for the Next Few Years

Stock Price Of MSFT Trends Updated Oct 2023 Microsoft's focus on cloud services has paid off for investors in a ...
Biotech sector

Biotech Sector: On the Verge of Triumph or Turmoil?

Introduction The biotech sector stands at the forefront of groundbreaking advancements in the ever-evolving world of science and innovation. Its ...
Mass psychology formation meating

Mass Formation Psychology Meaning: Unveiling the concept

Mass Formation Psychology Meaning Updated Oct 3, 2023 Before we get to the topic, let's examine the meaning of mass ...
Financial Record Keeping

Organized Financial Record Keeping: Effective Stock Holding Management

 Intro: Oct 3, 2023 Efficient financial record-keeping is crucial for investors with diverse portfolios encompassing stocks, bonds, real estate, and ...
Unleashing the Future: The Epic Evolution of AI into Personal AI

Unleashing the Future: The Epic Evolution of AI into Personal AI Powerhouse

The Next Phase of the AI Revolution: Personal AI Oct 3, 2023 Artificial Intelligence (AI) has rapidly advanced, transforming various ...
What Are Economic Indicators

Unlocking the Mysteries: What Are Economic Indicators?

Decoding the Secrets: What Are Economic Indicators Oct 2, 2023 Introduction: In the intricate tapestry of economics, gaining insight into ...
Lagging Economic Indicators: Time to Thrive or Perish

Lagging Economic Indicators: Time to Thrive or Perish

Lagging Economic Indicators: Time to Thrive, Not Just Survive Updated Oct 2, 2023 We will delve into this concept against ...
Why doesn't anybody help us stop losing money in the market? because nobody cares

Why Doesn’t Anybody Help Us Stop Losing Money In The Market

Why doesn't anybody help us stop losing money in the market? September 28, 2023 Introduction  "Why doesn't anybody help us ...
Investing in a Bear Market: Are Bear Market Fears Overblown

Investing in a Bear Market: Ignore the Naysayers

Investing In A Bear Market: Strategies for Successful Investing Updated Sept 29, 2023 We will employ a historical backdrop to ...