AlgoVenture

Nasdaq: Weekly Forecast 20210606

Long
Nasdaq made a comeback after it lost its handle at 13766 and managed to close a little higher for the week.

The market may start a bullish run earlier than expected as the sentiment with the Fed quickly shifted to a hold-off from tapering amid weaker than expected NFP.

We have also seen a successful rebound from the demand zone at 13500 and a breakout of a falling trendline within a rising wedge.

This week, we shall look for buying opportunities at the beginning, first entry at 13660, followed by 13620.
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