NASDAQ 2hr Chart - thought for next week
The last 10 weeks has seen the NASDAQ alternate between red and green weeks. Last week ended red as expected but will next week end green?? Looking at the chart it's very close to to support, which has held since April, if the price drops below support we could see big drop and a red week again. Given the continued rise in new cases of Covid 19 in the US this seems the more likely outcome, unless a new stimulus package is announced. While my head says green week my gut is saying red and if the number of cases continues to climb in the US (which it looks doing for a couple of weeks at least) then we could be in for a significant pull-back and a great buying opportunity.
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.