At the first signs of exhaustion, I’m willing to take a small short position and add it, as we’ve seen a good chunk of it sell out.

  • The NASDAQ 100 rebounded again in Friday’s trading session as the US dollar began to lose strength.
  • We are currently testing the 50-day EMA and the NASDAQ 100, which is near the 12,600 level.
  • This is an area that I think could continue to be important, but frankly I think it’s probably only a matter of time before the sellers come back.
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Whether it’s Monday or not may be another story, but now I think it’s highly unlikely that we’ll see any emulation of the upside, a lease for any meaningful length of time.. At the first signs of exhaustion, I’m willing to take a small short position and add it, as we’ve seen a good chunk of it sell out. You also need to be careful about your position size, as many people will jump in the bear market rally, and they tend to be rather vicious.

Wait for an opportunity to start selling

If we can break above the 50-day EMA, then it is possible that we can investigate the 200-day EMA. Level 13,500 is also a barrier, so not really until we get past all that noise that I would consider going long. In general, I think this is a situation where if you are patient enough, you should be able to start selling. The candlestick that formed in Friday’s session was quite bullish, but at the end of the day, we still have a lot of concerns about the idea of ​​risk appetite, especially with interest rates. so bullish lately. Yes, we will occasionally have a bearish rally in this market and of course rates will drop occasionally, but the overall outlook should remain the same.

The area has recently bounced off the 12000 level, and if we can get above that level then chances are we could go down to the 11000 level. ‘exhaustion, you can probably get involved, but I wouldn’t be interested in buying here, as I recognize that the fundamental situation is still not favorable to the upside, please not yet.

NASDAQ 100

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