NASDAQ targeting 25400 in the next 6 months. Don't miss this!!

19 nov

Nasdaq (NDX) hit this month our 20900 long-term Target, a level we called 3 months ago (August 12, see chart below):

As you can see, the index has been trading within a 2-year Channel Up and with the use of the Fibonacci Channel levels, we can determine on which phase of the Cycle we are.

Right now we are on the stage where the price has been rejected near the 0.786 Fib and pulled-back to the 0.5 Fib and the 1D MA50 (blue trend-line). This is exactly what took place from December 28 2023 to January 05 2024, i.e. during the previous Bullish Phase of the Channel. You can see that with the use of the Time Cycles, we can identify that the first such phase was on February 01 2023.

This is the phase that we've just completed and remarkably all 3 within the Channel Up completed a +20.88% rise. This further proves that the symmetry within this pattern is astounding. The larger Bullish Leg was completed on the previous two phases with a +49% and +48% rise respectively, so technically it is natural to assume that the current Bullish Phase (from the August 05 2024 bottom) will be completed on a +47% rise (-1% less than previously) at least.

This is why we're expecting to see 25400 as the next Higher High on a 6 month horizon.

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