NAS100 is in a correction phase! What should we expect next?
What NAS100 is doing right now is quite simple to tell and relate, the index is in a correction as it has done in the past. As we can see after a correction comes a rally/drop and after a rally/drop comes a correction. A week ago we saw a drop where NAS100 moved significantly fast without looking back, this week what we see is just a correction which is not yet complete in my point of view. We still need a swing high and maybe another swing low to complete this correction. What comes after that? Obviously a rally or drop.
This is how I define these market phases:
Correction Phase= Sleeping state
Rally/Drop Phase= Awakening state
Right now NAS100 is sleeping, there's nothing much happening but moving choppy, sideways in a confined space. I am waiting it to complete its sleep and pay closer attention to its awakening to catch a rally or drop. Taking trades within a correction can only be done wisely.
Does this make sense?
What should we expect next, rally or drop?
Share your thoughts in the comment section below.
This is how I define these market phases:
Correction Phase= Sleeping state
Rally/Drop Phase= Awakening state
Right now NAS100 is sleeping, there's nothing much happening but moving choppy, sideways in a confined space. I am waiting it to complete its sleep and pay closer attention to its awakening to catch a rally or drop. Taking trades within a correction can only be done wisely.
Does this make sense?
What should we expect next, rally or drop?
Share your thoughts in the comment section below.
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