NASDAQ has hit a strong demand level and now conducting a pullback.
Since the NASDAQ is very reactive to bond yields and DXY movements
The Next FOMC is 14-15 June 2022, FED has stated next two meetings will be 50 basis points for each meeting (0.50%) increase
but looking at other information I have there rates at 110 points for June and higher for next meeting
This would reflect the overall market sentiment and IMF statements that a global downturn is coming during 2022-2023
That being the case once the pullback is completed will have a nice setup to short to next demand level as highlighted
Since the NASDAQ is very reactive to bond yields and DXY movements
The Next FOMC is 14-15 June 2022, FED has stated next two meetings will be 50 basis points for each meeting (0.50%) increase
but looking at other information I have there rates at 110 points for June and higher for next meeting
This would reflect the overall market sentiment and IMF statements that a global downturn is coming during 2022-2023
That being the case once the pullback is completed will have a nice setup to short to next demand level as highlighted
With Fed being more hawkish anticipate will hit target by Dec
Downgrades during earnings will help it drop lower