PDEMDHC said:
Going back to August 2024 and October 2025 trend lines, looks like Nasdaq is nearing a top around 26100 or so. Going to watch for any short term reversals in the market depending on how close we get.
Volatility followed once we hit these highs, so something to potentially watch here.
That line actually goes all the way back to 2022. Very likely that we pull back a little bit from here or at least chop sideways for a little bit. I started selling covered calls today on most of my tech stuff.
If it can't bust through that line, it could grind upward slowly between now and the end of July to 27,000. If it does punch through the line and confirms, which would be amazing, there's a chance we bust through 28,000 this month before encountering a less reliable older trend line last touched in 2021.
I tend to think the slow grind to 27,000 is most likely, but I am just throwing darts.