NASDAQ Investment Position: Buy and Hold

$NASDAQ(.IXIC)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2409(NQmain)$

Despite being in a Bullish zone, the market is currently in a correction trend, displaying a descending rectangle pattern with a higher proportion of downward movements expected over the next 10 days.

Current Market Situation:

NASDAQ Closing Price: 17,874.2 (+1.45%)

Trend Zone: Bullish

Investment Position: Buy and Hold

Cumulative Return: 4.0% over 8 days

Long-term Strategy:

The market is in a Bullish zone, which includes an Uptrend with strong upward movements and a Correction Trend with temporary downward fluctuations.

The strategy focuses on holding assets long-term to benefit from high returns with low risk.

No changes in the trend zone suggest maintaining the current Buy and Hold position.

Short-term Strategy:

Despite being in a Bullish zone, the market is currently in a correction trend, displaying a descending rectangle pattern with a higher proportion of downward movements expected over the next 10 days.

A Sell position is recommended, with the best timing to sell expected between Aug 26 and Aug 27 at a price of 17,773.7.

The buying opportunity is anticipated between Sep 05 and Sep 06 at a price of 17,360.7.

Predictions:

Next 10 Days: Price range expected between 17,446.3 and 17,874.2 (-1.2% median).

Trend Intensity: Downward movements are expected to be stronger (-56%) compared to upward movements (+34%).

Volatility & Turning Points:

Predictions may be volatile due to changes in buy-sell intensity.

No specific trend reversal is anticipated in the near term.

https://www.pretiming.com/2024/08/nasdaq-despite-being-in-bullish-zone.html