Combing the largest market cap companies within Nasdaq - Mentioned as the FAANGs
Includes: Facebook, Netflix, Google, Apple and Amazon.
There are greatest moves within the markets it's usually when it's the earning season, happens 4 times a yr - December, March, June, and September. That isn't my focus for now...
The technical aspect of Nasdaq at this current time, from the post I posted yesterday - Double bottom, keep in mind it's really struggling to get past the key area of 11600 area. If we do past that Nasdaq could head higher, I've taken 60% of my profits - which this is why I like to check FAANG companies. It could be forming bearish flag or a right shoulder. We as trades aren't here to predict the market spot on we reflect our actions towards what price gives us, at this moment of time, I would wait till confirmed and if we break lower I expect Nasdaq index to pull back. However, if we go below the areas of: 5250.50 - Further bearish movement. Looking at 200 EMA is a nice support area.
Fundamentals to keep in mind: Stimulus if that gets confirmed - Equities could edge higher = Lower DXY.
A good interesting aspect as well to look into would be the VIX and 10yr they've had great moves this week.
Be careful trading or adding new position as we have NFP tomorrow.
Hope you've all had a great trading week so far.
Here's a key tip for today - Create your belief system within your trading - Believe in yourself
Remember: Just a trade idea, not a recommendation.
Trade Journal
Includes: Facebook, Netflix, Google, Apple and Amazon.
There are greatest moves within the markets it's usually when it's the earning season, happens 4 times a yr - December, March, June, and September. That isn't my focus for now...
The technical aspect of Nasdaq at this current time, from the post I posted yesterday - Double bottom, keep in mind it's really struggling to get past the key area of 11600 area. If we do past that Nasdaq could head higher, I've taken 60% of my profits - which this is why I like to check FAANG companies. It could be forming bearish flag or a right shoulder. We as trades aren't here to predict the market spot on we reflect our actions towards what price gives us, at this moment of time, I would wait till confirmed and if we break lower I expect Nasdaq index to pull back. However, if we go below the areas of: 5250.50 - Further bearish movement. Looking at 200 EMA is a nice support area.
Fundamentals to keep in mind: Stimulus if that gets confirmed - Equities could edge higher = Lower DXY.
A good interesting aspect as well to look into would be the VIX and 10yr they've had great moves this week.
Be careful trading or adding new position as we have NFP tomorrow.
Hope you've all had a great trading week so far.
Here's a key tip for today - Create your belief system within your trading - Believe in yourself
Remember: Just a trade idea, not a recommendation.
Trade Journal
Comment:
Looks like bear flag - Lets see if it breaks below 5500 areas. However, looking at US Indices we could see ATH.