As we now have identified a number of occasions, tech shares have lead the the bull market because the monetary disaster.
And right this moment’s chart highlights that in addition to essential 14-year bull market help.
Beneath is a weekly chart of the . As you possibly can see, the Nasdaq has remained inside a rising bull market channel for the previous 14 years, marked by every (A). However throughout the previous 18 months, it hit the highest of the channel (resistance) and turned decrease.
That flip decrease, noticed the NASDAQ check twin development help at (1), fortified by its 14-year up-trend help line.
Thus far, so good for tech bulls. The NASDAQ has held help and is trying to rally. This will probably be an necessary help degree to observe for traders within the months to return. Keep tuned.
