The Nasdaq 100 has broken out above it's down trend
The NASDAQ 100 Index $QQQ has just broken out today above it's downward trendline that's been in place since late last year, and some technical analysis suggests it could continue to test the $297 and $300 levels before possibly continuing to a Fibonacci 50% extension from the price box height formed in Q4, making the target of $317 which also coincides with previous support in February last year.
A sine wave analysis shows we have been in a consistent 45-50 day cycle since late last year. You can see on the chart below the wave or price is usually early by a few days in a projected turning point.
Currently we're almost half way through an up cycle with projections for a turn around the 17th of February..
A sine wave analysis shows we have been in a consistent 45-50 day cycle since late last year. You can see on the chart below the wave or price is usually early by a few days in a projected turning point.
Currently we're almost half way through an up cycle with projections for a turn around the 17th of February..