Nasdaq 100 IndexShort
The biggest negative day in the past 513 days..!
This is just my observation:
Today NASDAQ 100 plummeted 4.22%, which is the biggest drop in the past 513 days (355 trading days)
This has happened while,
January 2022 was the hardest month in the past 3 years for NASDAQ 100 and ends with -8.52%.
The significance of this event will increase if you know we did not have any positive candle with above 4.22 % in a single day in the past 14 months..!
So far all the gains in the past 6 months have been wiped off and the 6 monthly return is -4.48%..!
I think we should be very cautious to open long positions..! and those who approach the market with patience have the chance to buy at good bargains ..!
What are the objectives that support my idea:
1- Getting out of the Bullish regression channel in the weekly chart:
2- Lower high and Lower Low Pattern in the weekly chart:
3- Bear power dominated after 93 weeks..! ( Bull Bear Power indicator)
4- The highest level of ATR in the past 5 weeks, which is comparable to the Pandemic crash in early 2020..!
I invite you to think about it, and make the best decision for yourself..!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Today NASDAQ 100 plummeted 4.22%, which is the biggest drop in the past 513 days (355 trading days)
This has happened while,
January 2022 was the hardest month in the past 3 years for NASDAQ 100 and ends with -8.52%.
The significance of this event will increase if you know we did not have any positive candle with above 4.22 % in a single day in the past 14 months..!
So far all the gains in the past 6 months have been wiped off and the 6 monthly return is -4.48%..!
I think we should be very cautious to open long positions..! and those who approach the market with patience have the chance to buy at good bargains ..!
What are the objectives that support my idea:
1- Getting out of the Bullish regression channel in the weekly chart:
2- Lower high and Lower Low Pattern in the weekly chart:
3- Bear power dominated after 93 weeks..! ( Bull Bear Power indicator)
4- The highest level of ATR in the past 5 weeks, which is comparable to the Pandemic crash in early 2020..!
I invite you to think about it, and make the best decision for yourself..!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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