NASDAQ Numerous technical indicators call for a Buy.

Nasdaq (NDX) gave us a low risk sell trade last week (see chart below), where after taking the loss on the Channel Up bottom buy, we reversed to selling on the break-out and hit 14530:

Standard 'buy low, sell the breakout if invalidated' approach that aims at assuming low risk near supports/ resistances and high return when those break.

This sell-off brought the price on the Lower Lows (bottom) trend-line of the Falling Wedge for the 4th time. Coming of a 4H Death Cross, this is the 2nd Low after its formation, which has previously been a bottom pricing and buy signal. Additionally, the 4H RSI has been on Higher Lows on every bottom. The last indication that this is a solid buy entry, is that the price hit the 1.1 Fibonacci extension (from previous Low to High), which was where the previous two bottoms where formed.

As a result of all the above parameters, we issue a buy signal on Nasdaq and since the previous Lower Highs almost hit the 0.236 Fibonacci level, we set the Target at 15050.

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