Nasdaq Double Bottom: The Christmas Week Market Technical Analysis

There’s only a handful of trading days left for 2020… do you have a trade plan to finish this year out strong? 

We have one in mind, especially now that it appears that the Nasdaq is forming a “double bottom” pattern that we could take advantage of.

A double bottom is a chart pattern that occurs after there’s a down trend, signaling a reversal in the stock market and the start of an up trend.

This pattern shows a drop in a stock or index, a rebound, another drop similar to the first and then another rebound. Think of it like how the letter “W” looks.

Some traders use the double bottom pattern to determine their long-term outlook on the stock market, and this pattern could be the indicator we’ve been waiting for since it’s pointing toward  signs of a possible bullish market.

Join us today for this quick four-minute deep dive into the handful of things we could expect to happen from this double bottom.