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Non-Tech : Kirk's Market Thoughts
COHR 178.06+2.8%Jan 9 9:30 AM EST
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To: #Breeze who wrote (15388)2/19/2023 10:47:44 AM
From: Kirk ©1 Recommendation

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Nasdaq 100 LT Trend Chart

I added 2 black lines to COTD's broken channel
The Nasdaq 100 had been in a major bull market since the end of the financial crisis.

In fact, the Nasdaq 100 traded within the confines of a relatively narrow, upward sloping trend channel for over 12 years.

Shortly before and definitely after the Fed started raising rates — things changed.

During the summer of 2022, the Nasdaq 100 broke below support.

Currently, however, the Nasdaq 100 is testing what was once long-term support — for a second time.

chartoftheday.com

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