Pick Your Bias:
As a technician, one can change their mind pretty quickly depending on PRICE circumstances, but at the end of the day, they need to take conviction. The MONTHLY chart below of the Nasdaq has something for both the bull and bear case. Something that I did not point out on the chart was the last 3 months CLOSING very taut within just 132 handles of each other. This type of tight overall trade is often resolved in the direction which it came from and has the tendency to be very powerful if a breakout occurs. The back-to-back bearish MONTHLY candles the last 2 months should give bulls some trepidation but it my experience over decades of trading, bearish candles do not seem to act as well in an uptrend, as bullish ones do in a downtrend at the bottom. As long as the breakout to the upside remains intact stay optimistic. PRICE is omnipotent in my opinion. On the daily chart, a break above a symmetrical triangle pivot of 17625 would carry a measured move of 3000 handles with the width of the triangle trading between roughly 15700-18700.