Saad Ullah
Positive Forecast on Nasdaq Future after US Elections
@mardermarket, trader and co-founder of the Market Watch news portal, notes the positive dynamics emerging in the Nasdaq Index, one of the main indicators of the state of the US economy as a whole.
He notes that a technical cup figure is forming in the market against the background of uncertainty about the outcome of the dramatic US presidential elections, which has already passed the bottom, and now the Nasdaq is rising along the right 'wall'. He believes that the traditionally strong bullish months of winter, as well as a definite election result, will help the index shoot towards the end of the year, which will lead to its rapid growth.
There are few things as classic in life as the Nasdaq forming a cup-with-handle in mid-October amid uncertainty (e.g. a war or the economy), in this case the election, growth-stock strength, and just ahead of the historically bullish Nov/Dec/Jan period #stocks Chart MarketSmith @mardermarket via Twitter
A little later, the analyst clarified that he does not claim that all these events will unambiguously happen, however, if any of this happens, it will still be a fairly strong bullish signal.
Nasdaq Volatility Is Growing
Earlier, another analyst, @MacroCharts, pointed out that the volatility of the Nasdaq index is going into a ladder pattern. Earlier this year, the volatility of the Nasdaq has already been built into this figure twice, and both times the index has fallen. However, the analyst warns that this technical pattern is simply a harbinger of a change in the index and that change does not have to be a fall, he argues.
Saad Ullah
