I see a lot of people thinking the bull market is back on and I find that extremely difficult to believe
The nasdaq has seemed to completely change its trend direction over the past 8 months.
We are at 200 day EMA resistance in a clear downward channel.
Rate hikes, fed QT, bond yield inversion, recession.
Looking at heavily weighted stocks in the index I see a lot of them have not touched their weekly 200 Ema yet, and when they do make it all the way to the weekly 200 Ema, the index it self should be significantly below its 200 weekly ema
The nasdaq has seemed to completely change its trend direction over the past 8 months.
We are at 200 day EMA resistance in a clear downward channel.
Rate hikes, fed QT, bond yield inversion, recession.
Looking at heavily weighted stocks in the index I see a lot of them have not touched their weekly 200 Ema yet, and when they do make it all the way to the weekly 200 Ema, the index it self should be significantly below its 200 weekly ema