a daily price action after hour update - nasdaq
Good evening and i hope you are well.
Today bulls got another very strong day and either retested the highs or made new ones. ECB paused as expected but markets did not care one bit. Just bullish price action since EU open. Tomorrow more macroschmackro data which could lead to big spikes on a choppy week. I can not rule out market will interpret numbers bullish and we have another insane rally into the weekend.
nasdaq
bull case: Bulls had a strong bull trend day but made a lower high. After US close we broke out of the big wedge and if this get’s follow through, odds favor that this was just a bigger two legged move inside a big trading range. Bulls need to stay above the 1h 20ema around 18180 to keep btfd going and going for new highs tomorrow.
bear case: If bears can generate good selling pressure here and trade below 18100, they might have a chance of bulls taking profits enough again to trade back below 18000. The after hours sell-off was strong enough to get a second leg and i still expect a bigger second leg after Tuesday’s sell-off
short term: neutral until Fridays NFP - will probably keep ranging between 17830 - 18400
medium-long term: bearish but first market must form a credible top
trade of the day: btfd. no reason to exit longs until US close
Today bulls got another very strong day and either retested the highs or made new ones. ECB paused as expected but markets did not care one bit. Just bullish price action since EU open. Tomorrow more macroschmackro data which could lead to big spikes on a choppy week. I can not rule out market will interpret numbers bullish and we have another insane rally into the weekend.
nasdaq
bull case: Bulls had a strong bull trend day but made a lower high. After US close we broke out of the big wedge and if this get’s follow through, odds favor that this was just a bigger two legged move inside a big trading range. Bulls need to stay above the 1h 20ema around 18180 to keep btfd going and going for new highs tomorrow.
bear case: If bears can generate good selling pressure here and trade below 18100, they might have a chance of bulls taking profits enough again to trade back below 18000. The after hours sell-off was strong enough to get a second leg and i still expect a bigger second leg after Tuesday’s sell-off
short term: neutral until Fridays NFP - will probably keep ranging between 17830 - 18400
medium-long term: bearish but first market must form a credible top
trade of the day: btfd. no reason to exit longs until US close