NASDAQ waves and trend lines - still in down channel

28 sept. 2020

Here is what I have for the NASDAQ. Same as my S&P analysis. Still in the down channel and I laid out a falling wedge pattern. I think there may be a good drop this week before a more noticeable bounce.

28 sept. 2020

Note

Morning breakout. The S&P is still within the down channel but this breakout move in the NASDAQ does not have a precedent. I am still not sold we are read for a major rally, but we will have to wait it out this morning.

28 sept. 2020

Note

Unlike the S&P that is just under the 50 day MA, the NASDAQ broke above the 50 day in premarket.