NASDAQ Daily Chart – The potential bearish pattern has been negated and it’s off to new all time highs for the tech weighted index. These wedge style patterns can yield huge moves during strong bull markets like the one we are experiencing right now.

Also, the speed at which the index recovered from a 50-day moving average break to the downside and then accelerated higher and broke out without much of a consolidation is indicative of the strength in this MAGA market.

Here’s the Daily Chart:

NASDAQ Daily Chart