As the Dow and S&P500 approach their structural peaks, the Nasdaq is also included in this group and is expected to fill a gap created in the 1-hour futures chart between August 19, 2022 and August 21, 2022 with a move above 13,247. Algorithms programmed with key words may trigger a sharp move upward and provide the means to fill gaps in the S&P500 and Nasdaq during, or after, Jerome Powell’s speech at 12:40 p.m. EST on Tuesday, February 7, 2023. This would align with a move of 8.5 trading days (+/- 1.5 trading days) after January 30, 2023 noted on February 1, 2023.
Stock chart courtesy of StockCharts.com.
