, Daily, H4. Assessment of the NASDAQ index's potential in the near future.
When looking at the index through Fisher indicators, they are already approaching the +200 levels of the CCI(32) indicator, which I consider as levels where buyers take their profits. Those who use wave analysis say that the growth wave structure (after correction) has already been fully completed or will be completed soon. At the same time, the price on the price chart is approaching the linear regression channel trend line, which may indicate that this channel could act as a resistance level, confirming the likelihood of the end of this bullish wave only with the price chart. Looking at the non-linear regression channel, it is not yet ready to confirm the end of the bullish trend with its trends, so there may be a correction to the upward wave. To clarify this fact, it is advisable to look at a time frame lower than the daily. So let's look at the H4 time frame:
First of all, the Fisher indicator part indicates that the market is actually overheated by buyers, and their exit from positions will at least set a corrective effect on the price of this index. The non-linear regression channel still sets a small segment of the bullish trend (which can confirm the analysis on the daily time frame and as a resistance option for the linear regression channel trend line) for growth, after which the bearish trend will start, meaning the correction will work in the bearish direction. It doesn't make sense to analyze lower time frames, but it will definitely be necessary for trading intervals. Good luck to everyone.
