Hey all!
Nasdaq broke through upper support at 11850 which indicates we shall have a fast quick way up now that I believe will be followed by a fall. People are getting in at any price now and don't care about valuations which always leads to a downturn. Also, RSI is now extremely high. At this RSI NASDAQ has always come down. How low not sure:), but we need to look at other factors now. Quarterly earnings have been good which has fueled the rally now the question is what else can fuel it? Lets see, good luck
Nasdaq broke through upper support at 11850 which indicates we shall have a fast quick way up now that I believe will be followed by a fall. People are getting in at any price now and don't care about valuations which always leads to a downturn. Also, RSI is now extremely high. At this RSI NASDAQ has always come down. How low not sure:), but we need to look at other factors now. Quarterly earnings have been good which has fueled the rally now the question is what else can fuel it? Lets see, good luck