Nasdaq – Weekly Analysis

Four weeks. Nasdaq down 12%. And a big win for the Investing Angles crowd! The warning was there, just before the decline. We simply translated what the candles were telling us, and the market did the rest. Hopefully, everyone paid attention and was prepared for the ride. But yesterday’s successful call is already history. What matters now is what comes next. Has Nasdaq already taken enough damage, or are we witnessing just the opening chapter of a much larger decline? And have the latest candles revealed something that could change our outlook? Let’s turn the page and see what the charts are telling us now. CANDLES & TA: This week was quite brutal by all counts, and the outlook is far from rosy. On the daily chart, Nasdaq lost the 200 DMA, and perhaps the most concerning development is that the 50 and 100 DMAs have started to curl downward….