Nasdaq – Weekly Analysis

The Nasdaq bulls are back! Or at least, they’re making a serious attempt to convince us. After weeks of selling pressure, Nasdaq bounced this week, offering a glimmer of hope that the worst may finally be behind us. Perhaps the bottom is in, the correction is over, and it’s time to celebrate another buying opportunity? Well, the market has a rather expensive way of teaching investors the difference between a bounce and a bottom. So, is Nasdaq preparing for a powerful comeback, or are the bulls being invited to another party organized by the bears? Let’s examine the latest candles, technical indicators, and Elliott Wave structure. The next move could be considerably more interesting than this week’s recovery. CANDLES & TA: The weekly frame closed with a bullish Harami combination, a pattern that normally carries fairly substantial odds of a reversal. However, this particular setup may be an exception. Technical…