Why Nasdaq growing along line and when this end 📏

1 авг. 2023 г.

Since the beginning of year, Nasdaq index has been growing literally along the line, and the largest companies are dragging it in turn: NVDA , TSLA , GOOG , MSFT .
According to the classics of "hamster races", each new ruler increases the angle of inclination.

Since May of this year, the angle has increased as buybacks from companies and a “big bull” with options with an expiration date of zero from individuals investors have come into play.

And here we are again approaching the lilac line, now the index should again surprise everyone and increase the degree of upward slope OR a protracted fall will begin already from the current levels, since all fundamental and technical reasons have long been ripe for a reversal 🫡

Already on Thursday, we can see strong volatility and a break in the trend, as the last major mammoths report: AAPL and AMZN
In the medium term, it is not their numbers in reports and forecasts that are extremely important, but the volume of the buyback program, which usually drags the market up.
However, past reported mammoths have not issued buyouts, which means there is a high chance that we are already very close to the peak.

⚔️ Nearest resistance: 16500p. - ATH!

🛡️ Nearest support to start purchasing techs: 15000p; 13550p.