NASDAQ: Replicating the January bottom. Long term target at 13,4

8 Mar 2023

Nasdaq followed our short term trading plan to perfection and hit both our targets (see bottom chart). Now with the 1D time frame on neutral technicals (RSI = 51.600, MACD = 59.860, ADX = 20.760) but the RSI on a HL trend line, this draws comparison with the January bottom formation.

The 1D Golden Cross that will be completed tomorrow and will be the first since May 2020, can signal the start of a rally similar to January's that topped on the 1.5 Fibonacci extension. Based on that we are long and have a TP at 13,400.

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