Nasdaq Composite bounced off the blue uptrend line and is now challenging MA20. If it cannot break through MA20, the downtrend will remain intact such as those previous occurrences in the yellow circles. On the other hand, should it recover MA20, it will likely reach the light blue up-channel top as the 2 yellow arrows did.
Also, about 800 stocks beat Nasdaq to break through MA20, including GOOG and TSM. Click the link below to view them:
360miq.com/screener?market=NYSE%20%2B%20NASDAQ&ma20=Close%20cross-over%20MA20
360miq.com/market?data=NASDAQ#tab-3
