Nasdaq prints a definitive bottom last Friday

Nasdaq prints a definitive bottom last Friday

Key Support: 12280
Key Resistance: 12800-13000

Long Term View
The Nasdaq crashed 12.30% from high to lows to retest the previous key level where buyers jumped in before the Nasdaq rallied 13.80% to all time highs at almost 14000

Fundamentals
The Covid Relief plan has passed in Congress and now $1.9 Trillion will be injected back to the economy. This is very bullish for stocks because most of this money will be spent in the economy.
1H Char Analysis
After last week´s bottom we are entering at the new high breakout and targeting the weekly pivot and the Non-Farm Payrolls wick highs.

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Author : Orlando Gutierrez

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