NASDAQ. 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.
Summary of NASDAQ Analysis (Aug 23, 2024) 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