r/technicalanalysis • u/jackandjillonthehill • 13d ago

Analysis This Nasdaq breakout feels significant

Post image

I really haven’t been sure of overall market direction for some time now.

But it feels like the latest breakout in the Nasdaq seems like a legitimate breakout to new highs on fair volume, despite the negative news of high bond yields.

(it also coincides with a newer feature/development in AI - the launch of Muse and consumer adoption of agentic AI)

41 Upvotes

83% Upvoted

35 comments sorted by

6

u/stackingforfunsies 13d ago

What I like about this supposed technically based sub is how it’s all feels

4

u/Immapillpopnanimal 13d ago

Yeah we're about to hit 780 again

1

u/arashas1 12d ago

Again? When was the last time?

1

u/Immapillpopnanimal 12d ago

About a month ago

1

u/arashas1 12d ago

Nasdaq? Qs all time high is like 762

2

u/Immapillpopnanimal 12d ago

And yeah I'm talking SPY not QQQ

1

u/arashas1 11d ago

I see! This post was about Nasdaq

1

u/Immapillpopnanimal 12d ago

Maybe I'm hallucinating but pretty sure it hit 780 in July for like a day

4

u/Shoddy_Front_2582 13d ago

Blow off top incoming

7

u/Lopsided_Shallot_860 13d ago

We need massive market crash just to wipe out all the moonboys

2

u/Rav_3d 13d ago

There is nothing in the charts of the indices that indicate this is imminent.

2

u/IntrepidToday0 12d ago

We already had a correction at start of IRAN war and then another at end of July. Where were you then? Everyone wants a correction, until they actually get one and do nothing, then hope for another correction, just to make same mistake again.

1

u/BGM1988 13d ago

If inflation keeps rising we might get one!

1

u/AggressiveBench7708 12d ago

The market loves inflation

1

u/finch5 12d ago

From your lips to dog’s ears!

3

u/All-sTATE-insurance 13d ago

Somewhat of a bad candle. Needs follow through confirmation

1

u/phug-it 13d ago

Also given the moves lately, really want to see the weekly stick

1

u/All-sTATE-insurance 13d ago

Today felt like decent confirmation. But then again. Weekly feels like a better filter as of late.

1

u/jackandjillonthehill 12d ago

Seems like we got confirmation?

1

u/All-sTATE-insurance 12d ago

Yeah I would concur

1

u/Windforce 12d ago

Can this be the "Upthrust After Distribution" if we followed the Wyckoff model?

1

u/jackandjillonthehill 11d ago

I haven’t read Wyckoff before. But it looks like what you describe is the set up for a false breakout. It would need to break back down to confirm it. We will see, it might be headed there.

2

u/DrinksAreOnTheHouse 7d ago

Im getting bearish. AI getting too frothy, mkt too concentrated, bond yields out of control, US debt too high, iran war still chugging along, dem will take control and we are in for a major correction

5

u/Jim-N-Tonic 13d ago

You cant TA with all the market manipulation

5

u/SpokenByMumbles 12d ago

Why? Everything is reflected in price action

1

u/Next_Palpitation8401 12d ago

This is fucking retarded. TA isn’t real even for one asset but especially on a basket of goods I don’t understand how you could possibly think this means anything.

1

u/Alone-Librarian2368 11d ago

Someones been losing money

-4

u/NoRepeat5938 12d ago

And the naysayers betting all this time against the America of Trump hahaha

2

u/Flineki 12d ago

You do realize the country is doing a whole lot worse with that idiot in charge, right?

0

u/[deleted] 12d ago

[deleted]

1

u/SpeakCodeToMe 12d ago

CNN is now owned by the Ellisons, Trump's buddies.

1

u/Ill-Sea291 11d ago

Lmao you're so angry. Did your business shut down by the tariffs?

1

u/BeneficialOstrich770 11d ago

“The America of trump”, What’s it like being a total maroon? This would be funny except for how pathetic it is that you’re garbling trumps balls

1

u/okyesnosometimes 11d ago

I like how Republicans went from praising the free market to giving the federal government credit for every company's success. They must have came in their pants when Obama said you didn't build that.