Nasdaq is up for a big breakout - Trade of the week | Bulletproof Traders
In our Trade of the week, Bulletproof Traders in-house trading activities present our current overview on the Nasdaq.

Even though the stock market is over valued by a large stretch, there is still some upside potential, especially in the near future.

The price of the Nasdaq had an intense love affair with the big key level of $12,890. It started way back at last December, when price action began to engage with that key level from below.

However, every single time it approached it got rejected, and ended up failing to cross over. well, up until yesterday.

Finally, yesterday we got ourselves a an official breakout after the monthly bar had managed to close above that huge resistance. That is a big statement coming from the Nasdaq and reflects over to the rest of Wall-street and the global stock market.

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