We have changed our expectations for the Nasdaq. We still expect the Nasdaq to have already initiated its long-term correction. However, based on the current structure and momentum, we now consider it possible that the Nasdaq will form a new all-time high.
Nevertheless, this new all-time high would be based on a corrective structure and could lead to one final major high for the Nasdaq before the correction continues.
We have established a short-selling zone for the Nasdaq because we expect the market to lose its current bullish momentum and break down toward new local lows below 27,176 points in the medium to long term.
Short-Selling Entry Levels
- 123.6%: 31,609 points
- 138.2%: 32,133 points
- 161.8%: 32,981 points
We are watching for new all-time highs, which we expect to become possible as soon as the market breaks above its current all-time high at 30,762 points.
If anything happens with this index, we will update you immediately.
Kind regards,
Monalytics
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