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
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