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Nasdaq: Analyzing Recent Trends and Potential Resurgence

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In the most recent trading session, the Nasdaq, mirroring the broader trend observed across major US indices, underwent a significant retracement following an extended period of bullish momentum throughout the year. The Nasdaq's price descended to a demand zone situated approximately at the 50% level from the preceding swing on the daily timeframe. Subsequently, following a rebound around the $17,000 mark, indications suggest a potential for a renewed pullback, signaling a possible resurgence in the uptrend. We are currently considering a long position, having already initiated one, and are also contemplating a buy limit order should the retracement deepen further.