NASDAQ's current key level

What a nice day ! What a nice bouncing back, as predicted last night. That's the power of chart reading !

NASDAQ's current key level is about 1750. Please refer the charts below.

If the bulls can hold 1750 well, then the first target is the yellow line, about 1793. Yesterday I also gave a bouncing target as shown in the chart! The chart's link is here. Please click the link for previous charts.

On the other hand, if 1750 is successfully broken down by bears, I will expect the market drop to 1725 area, at least.

So, watch 1750 very closely, then we will know where is the market heading to !

As mentioned before, this battle is over the year line between bulls and bears. The bears have tried 5 weeks so far to push the market below the year line. To date, the market is still above the
year line, which is about 1745. I am afraid that bears may lose the battle for now, at least for this round of battle. When the bear's trap is formed, that's the end of this battle.