NASDAQ hit 1D MA200 for first time since April 05!

The Nasdaq index (NDX) hit today its 1D MA200 (orange trend-line) for the first time since April 05 2022. This completed the bullish leg we signaled on our analysis at the start of this month:

At the same time, the price hit the January 05 Lower Highs trend-line, entering the No-trade Zone. This is the region we regard as highly volatile as it is between the 0.618 Fibonacci level from the August 16 High and the Lower Highs trend-line.

We will buy again upon confirmation after a 1D candle closes above the 0.618 Fib and target the 1W MA100, which is just below the 13760 August 16 High. Similarly, if we close a candle below the 1D MA100 (green trend-line), we will sell back to the top of the Support Zone (10765).


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