Nasdaq Signals a Major Reversal… Here's What I'm Watching

AI-generated source summary

The analysis focuses on potential bullish reversals across multiple indices and stocks, particularly the Nasdaq and Russell 2000, citing hidden bullish divergence and harmonic patterns like the bullish shark. The Nasdaq is analyzed on a daily chart, showing 167 days of consolidation with a target of 30,300, suggesting a potential resolution upwards after the midterm elections. The Russell 2000 is also identified with a bullish shark harmonic pattern, potentially breaking its downtrend, with a target around 2,850 (the 200-day moving average). NVDA shows hidden bullish divergence on the daily chart, with a support zone identified between $208-$210, retesting prior all-time highs, suggesting a potential upward move. For oil (XAUUSD), a bearish crab harmonic on the daily chart is noted, with a target reversal zone between $101-$105, indicating a potential short-term downtrend. Several individual stocks, including Nebius, DRAM, GE Aerospace, and Coherent Corp, are highlighted for harmonic setups and potential long-term uptrends, with GE Aerospace on the weekly chart showing hidden bullish divergence and a bullish shark pattern with a target of $333. The overall market sentiment, despite some bearish signals in oil, leans towards a potential bullish turn in major indices and growth stocks due to the observed technical patterns and divergences.

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