The Nasdaq just broke out of an 8-month rectangle pattern. Gianni Di Poce says this is a very significant move and we are still early in the rally.
The base measured roughly 3,000 points. A larger base produces a larger move higher, and Gianni is now targeting 29,000 to 30,000 on the Nasdaq in a matter of months.
The Trinity Trade has been cashing in on the exact setups feeding this breakout. Gianni booked 51% gains on Marvell Technology (MRVL) in three weeks and closed AMD calls 170% higher last week.
Technology just hit a new all-time high and reclaimed the top spot as the strongest performing sector on the year.
Here is what Gianni broke down in tonight’s video:
The Nasdaq built a 3,000-point base over eight months and is now breaking above it, placing this rally in its early innings with 29,000 to 30,000 as the conservative upside target.
His S&P 500 target sits at 7,700 conservatively, with the index still early in its rally phase and the VIX holding below 20.
Oil looks positioned for one more washout toward $75 per barrel before marking a tradable bottom in the energy space.
Bitcoin (BTC.X) holding 74,000 to 76,000 opens a path to 82,000 to 86,000, while Ethereum above 23,000 clears the way to 33,000.
Gianni points out that sentiment is still not bullish and the rally is widely hated. That disbelief is exactly why this move has room to run.
His message for traders who missed the initial push is to stay patient and wait for the next individual setup. The Trinity Trade is built to spot them in real time.
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