Is the correction over for Nasdaq?

27 mar 2022

Many of you are wondering if this correction on stocks is really over and we will be heading to all time highs again! That 23% correction wasn't some small move, we clearly broke the trend line and we are in a really dangerous position technically and fundamentally(inflation, increase in interest rates, war...). However, the market recovered really quick and we bounced like 14%. As you can see in my chart I expect a rejection from maximum 14.9-15.3k area(red trend) and continue the down momentum and head on to 3 levels where the buy opportunity is really serious and a chance that we can't miss again. First buy is at 12.1-12.4k(yellow trend+green support) level, second one is at the 0,61 fib level at 10.5k and the final zone is at 9.3-9.8k. Breaking 15.3k and staying above it would minimize the chance of a second correction by a big percentage and nobody can know where we will get a discount on nasdaq again.