The Nasdaq is UP By More Than 10%


The Nasdaq Stock Market, or simply Nasdaq, is the world's second-largest stock exchange for investors buying and selling stocks. One can trade the NASDAQ index. On November 22nd, 2021, the Nasdaq index reached a new high of 16770. For more than a month, the index was in distribution. We projected a short-term bottom between 11500 and 11700, which is the 50% Fib level of the upward trend. The harmonics AB=CD are also completed at this level, indicating a reversal for the security's and Klinger oscillators, for example, began to exhibit positive divergence. We were expecting short-term accumulation and upward movement.

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Since then index made a bottom at 11488 and rallied aggressively towards 13000 where the short-term trends look bullish as the security is making higher highs and higher lows.

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