Chart of the day

Where do we stand fundamentally?

NASDAQ is driven higher by tech stocks and its sector on the back of AI technology, but those are not the only stocks that contribute to its growth. We have NFLX, META, and AMZN also breaking out. It gives a bullish continuation picture.

NASDAQ is breaking out above the significant resistance of 19500. This breakout and confirmed break above 20000 will lead to an extreme upside extension to 24000.

Support for an upside extension and a test of 20000 again is 19500 and an invalidation level of a fifth wave extension higher is 17500. Only a confirmed break above 20000 is required for a continuation higher.

_{Look for a long trade entry with a stop loss below 19200.}