Chart of the day

Where do we stand fundamentally?

From the beginning of the year, NASDAQ is back on $NVDA huge upside rise and expectation of a rate cut. sometimes more than unjustified. The upside potential seems limited from here

NASDAQ reached 19100 again. This could be the top of the fifth long-term upside wave. A confirmed break below strong support 18500 is needed to confirm the end of five waves and I expect that.

We are seeing an ongoing test of the mentioned level 19100 and a break upside will accelerate the extension higher.

_{It is a stretched market but look for the short trade entries with a stop loss above 19300. I see this as an ending consolidation before a bigger correction within the channel.}