On Tuesday, I was in Houston but I still hosted my weekly “30 Minutes of Awesome” webinar (my wife demands I call it that! Ha!)
Basically, each Tuesday at 5:00 PM ET, I go LIVE to talk about the markets, what I’m expecting for the big indexes and stocks I’m looking at, and I even look at some stocks you request.
It’s a lot of fun! You can watch the recording from this week here, and you should check your email between 4:00 and 5:00 next week for an invite to Tuesday’s webinar!
But I’m not really here to brag about the free education. This Tuesday, I dove deep into what I expect from the Nasdaq.
You can watch the entire presentation, if you’d like, but here are the highlights…
The Nasdaq formed at the end of 2021, in November, and we’ve been in a correction ever since.
Last week, I predicted that we might pull back all the way to the .618 (the red line of support underneath the candles on the right line of the chart). We did exactly that.
That means that it looks like we’re setting up for a measured bounce.
The retreat yesterday doesn't necessarily mean it’s over, we just need a move higher to trigger a potential bullish run.
Looking at the chart, the “conservative” target would be 16,295, but we’d often expect the next move to go even higher than that before another pullback.
That sets up for a potential trade on the Nasdaq itself, but remember, it also means that the component parts of the Nasdaq, tech stocks, should be in for a rally as well.
Watch the video if you want the blow-by-blow explanation. But I thought I’d give you the quick rundown.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
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