Today I’m looking at the Nasdaq futures daily chart – a simple and short view. Nasdaq is still highly correlated with crypto (94% with Ethereum and 78% with Bitcoin from mid-June).
We are very close to an 80-day cycle low in Nasdaq and a rally should be imminent. Notice that the June low was significant, at least a 40-week cycle trough, which means the upward force of this big and relatively new cycle is still present and bullish. Get ready to reposition.