Hey traders, If you're seeing this one, it means I was able to post this. The Nasdaq 100 dropped 2% after that double top showed up. I described what looks like an inverse head and shoulder forming, where the bulls are going for that higher-low.
The VXN on the other hand hit a resistance at 30.50 and if this is just a retest to the 28 point support, then the VXN bulls will be back and the Nasdaq 100 bears will take us for another rude.
I see a 14200 reach, however, I'm keeping an open-mind to the whole situation.
Yesterday's FOMC gave us a gap-fill then a continuation to the downside. Some fed officials wanted a 0.5% rate hike to arrest inflation quickly.
Investors became unnerved by the idea of the increase causing an effect on the Nasdaq although, not a news fan but maybe.. That got a reaction.
Look at this plan:
VXN chart:
Hey trader, if you loved this one, leave a like, comment, follow, and share your thoughts in the comment below. I love reading them.
Cheers,
Lazyluchi..
The VXN on the other hand hit a resistance at 30.50 and if this is just a retest to the 28 point support, then the VXN bulls will be back and the Nasdaq 100 bears will take us for another rude.
I see a 14200 reach, however, I'm keeping an open-mind to the whole situation.
Yesterday's FOMC gave us a gap-fill then a continuation to the downside. Some fed officials wanted a 0.5% rate hike to arrest inflation quickly.
Investors became unnerved by the idea of the increase causing an effect on the Nasdaq although, not a news fan but maybe.. That got a reaction.
Look at this plan:
VXN chart:
Hey trader, if you loved this one, leave a like, comment, follow, and share your thoughts in the comment below. I love reading them.
Cheers,
Lazyluchi..
Note
VXN chart:Note
Plan:If I get that retest for a next low at 14300, I go short. If not a wait for a bullish sign.. Stay active for the initial jobless claims news.
Note
The first plan was a bust. Waiting to see what the bulls decide on..Note
Took this one for study, divergence---popping but bears not really in control
Note
Trade plan went fine. However, the market didn't exactly go smoothly so I couldn't trades via stream. Till tomorrow guys---Cheers!Stay safe.
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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.