NASDAQ still has room to fall.
Looking at the long term primary trend, a healthy correction is needed for the next leg up. Tech is taking a breather to grab more strength and continue its run to the upside. Primary trend is intact, look for increasing volume towards the 13000 weekly demand level when it gets there, increasing volume will show strength in the primary trend. If there is no strength shown and it breaks the controlling swing pivot low, then the trend will show signs of reversals. Primary Trend should persist until proven otherwise. Measuring previous impulsive motive moves and corrective moves and projecting it towards the long term view a reasonable price target for long term investors/traders is around 15500.
Looking at the long term primary trend, a healthy correction is needed for the next leg up. Tech is taking a breather to grab more strength and continue its run to the upside. Primary trend is intact, look for increasing volume towards the 13000 weekly demand level when it gets there, increasing volume will show strength in the primary trend. If there is no strength shown and it breaks the controlling swing pivot low, then the trend will show signs of reversals. Primary Trend should persist until proven otherwise. Measuring previous impulsive motive moves and corrective moves and projecting it towards the long term view a reasonable price target for long term investors/traders is around 15500.
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**long term target 15000, not 15500** sorry fat finger!
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This is still a possible scenario that may develop in future weeks. We shall see how the market Opens on Sunday. Great weekend Traders and investors. #TTP #TrusTheProcess
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300 more points for it to drop. Wait for the best entry, PAY-tience!
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