NASDAQ extends recent record run today, together with other major US indexes. Daily MACD’s break of the falling trend line suggests upside acceleration. Focus is now on 61.8% projection of 13002.53 to 15403.43 from 14181.69 at 15665.44. Decisive break there will likely bring acceleration to 100% projection at 16582.59. That would also solidify near term bullishness that would probably last for the rest of the year.
Meanwhile, rejection by 15665.44 would bring corrective pull back. But outlook will stay bullish as long as 55 day EMA (now at 14936.75) holds, even in case of deep correction.
