Nasdaq is getting an upward reaction from the bullish equal ABCD formation’s point D. After one of the biggest drops for years, China’s stabilizing covid situation and promises of further fiscal and monetary help support the recent run. But the downtrend still continues until passing the 13.775 resistance, and up moves may stay limited for the time being.
On the other hand, the last 2 down corrections made a dip with less than %10-%15 of the members remaining above their 200-day moving average and started to increase. The same bullish signal appears at the same time with bullish ABCD formation is a good thing for the bulls. If Nasdaq can hold above 11.000 and breakout to above downtrend, another bullish run might start again.
