MNQ touches 100ma with daily hanging man candle
With crypto markets being hyped up claiming the bottom is in, the US tech market tells another story. First we have been under the 100ma on MNQ on the daily for 200 days which is a very significant period of time compared to NASDAQ's complete history from day 1.
Step back and think about this also, Joe Biden is the president and the democrats have proved to continue to create a bigger bear market with US politics. This is a healthy correction that is needed before the next bull run starts.
If you are smart you will continue looking for shorts even if your bias is fully bullish right now, find some low risk entries on shorts this week because if we bounce off the 100ma, it's going to be a pure dump.
In my analysis I would like to see a price target of 12,000 hit this week.
Step back and think about this also, Joe Biden is the president and the democrats have proved to continue to create a bigger bear market with US politics. This is a healthy correction that is needed before the next bull run starts.
If you are smart you will continue looking for shorts even if your bias is fully bullish right now, find some low risk entries on shorts this week because if we bounce off the 100ma, it's going to be a pure dump.
In my analysis I would like to see a price target of 12,000 hit this week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.