NASDAQ weekly technical analysis for 7 to 11 march 2016
NASDAQ index this week closed with gains at 4717. Same like djia and SPX, this index also recovered major losses in last 3 weeks rally. From low of 4375 to high of 4746. Index price trend is down but momentum is strong bullish. My given target 4725 is achieved now next target will be at 4895. Which can be expected in next 1 to 3 weeks’ timeframe. From longer term view, NASDAQ above 4845 will turn bullish for year 2016. Till hen this is only recovery phase. Above 4845 expect targets of 5400 and 5780 until end of 2016.