Let's have a Longer-term view, and watch Bullish Reversal signals flashed by MACD and RSI.
Nasdaq 100 Index - Weekly Chart
The tech-heavy Nasdaq 100 Index has rebounded for three consecutive weeks following a 22% decline from its November high.
In theory, people call for an index's "Bear Market" once spotting a 20% drop from its recent high.
Now it seems Nasdaq 100's "Bear Market" refuses to develop.
And a long-term Bullish Reversal is in sight -- Note the swinging of Weekly Momentum Oscillators MACD and RSI from lows.
A Weekly Chart shows two previous examples of Nasdaq 100's Bullish Reversal from a "Bear Market" in the past three years:
1) Christmas 2018 (rising 65% rise from bottom);
2) Covid Downturn in March 2020 (rising 152% from the bottom).
Be prepared for the current Bullish Reversal continuing.
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