Nasdaq: 6-week correction vs. 6 months
From peak to trough, the
NQ1!
-- Nasdaq Futures -- saw a 32% correction. We're at 29.9% right now.
Back in 2020, it took just six weeks to flush the market down to some level of support & demand, which coincided with the 200-week moving average.
For this correction, it took significantly longer -- six months and we don't necessarily have the return of demand...yet. Will it come at the 200-week again? It's at least one area to keep an eye on IMO.
NQ1!
-- Nasdaq Futures -- saw a 32% correction. We're at 29.9% right now. Back in 2020, it took just six weeks to flush the market down to some level of support & demand, which coincided with the 200-week moving average.
For this correction, it took significantly longer -- six months and we don't necessarily have the return of demand...yet. Will it come at the 200-week again? It's at least one area to keep an eye on IMO.