NASDAQ: Forming the bottom. Don't miss the 2025 rally to 28,000.

Nasdaq is bearish on its 1D technical outlook (RSI = 35.342, MACD = -382.320, ADX = 38.919), headed towards oversold territory. 1W is also headed towards an oversold state (RSI = 36.953) as the price has crossed under the 1W MA50 and is approaching the 1W MA100. This is currently waiting at the bottom of the 2 year Channel Up. This 6 month correction is so far technically nothing but the bearish wave of this Channel Up and has been almost as strong (-15.89%) as the previous in July-Aug 2024.

Notice an key technical tendency here, no correction/bearish wave has ever crossed under the S1 level of two highs before. The current S1 is at 18,400. So taking those conditions into consideration as well as the fact that the 1W RSI is at the bottom of its Channel Down, we see this week as the bottom formation candle that will start a new bullish wave. The prior two such waves both made an incredibly symmetric rise of +52.60%, so expecting the same puts our target at TP = 28,000, most likely by December 2025-January 2026.

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##