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  • Writer's picturePeet Serfontein

Analyst Thoughts: NASDAQ Medium-Term

EXPECTED CORRECTION FORMS PART OF THE CYCLICAL BULL TREND.


  • Moderate further gains to the previous top around T1 are likely to complete the current 1,2,3,4,5 bull trend. 

  • An overdue W,X,Y bearish correction to S1/P* is expected off T1. While the W,X,Y-type formation is preferred, a triangle or rectangle can also develop.

  • The overbought and diverging RSI (line D) confirms the potential for a correction.

  • Any break below S0* will activate and confirm the bearish corrective phase.

  • P*, as the cyclical bull trend support is expected to hold through any correction with further long-term gains to new highs. 

 




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