Short
NASDAQ Sell Opportunity ?
If you have been following my analyses, you know that 4 months ago I posted an analysis on US10Y predicting it to reach 2.000% before continuing its way down, and since it formed a bullish flag and tonight Powell will be speaking, I expect to see a stronger Dollar which will lead to more downside on US30 and NASDAQ since the Fed is expecting to raise rates in 2023. However, the only thing the Fed knows for sure is that two years from now there will be a lot more debt than there is today. Therefore in two years, it will be much harder for the Fed to raise rates than it is today.
From a technical perspective, NASDAQ finished 5 waves up, and now I expect to see a correction to retest the bottom of the ascending channel (wave v of 5) as our first target. Breaking the beginning of the ascending channel (13200) will push NASDAQ to retest the bottom of the leading diagonal (wave 5) at 12700 as our second target. Breaking 12700 will push NASDAQ towards the previous wave 4 at 11200 as our third target.
Good luck everyone.
From a technical perspective, NASDAQ finished 5 waves up, and now I expect to see a correction to retest the bottom of the ascending channel (wave v of 5) as our first target. Breaking the beginning of the ascending channel (13200) will push NASDAQ to retest the bottom of the leading diagonal (wave 5) at 12700 as our second target. Breaking 12700 will push NASDAQ towards the previous wave 4 at 11200 as our third target.
Good luck everyone.
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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.