Hi FolksI always keep an eye on the Nasdaq (NDX) chart as a...

Hi Folks

I always keep an eye on the Nasdaq (NDX) chart as a indicator for the AI sector.

Since late Oct the NDX has been through a remarkable growth spurt growing 31% to the peak in just 5 months. Inevitably after such a strong rise a downward retracement was always on the cards.

During that rise 7 unfilled daily gaps were created and with the start of the retracement, 4 weeks ago, the top gap has been filled in the last two days.

I have included the retracement FIB's on the chart and with a 38% retracement two more gaps are likely to fill.

The four lower unfilled gap may indeed remain unfilled. Who knows?

So it seems that some downward pressure is already underway on the AI sector and may continue for some weeks/months towards mid-year, The pullback in the last week was quite strong.

Worth keeping a eye on.

cheers Lies