Hey traders,
Hope that you are all have a blue Monday. It appears that we could see the rest of this month as a bearish month for the NASDAQ 100 index following a massive correction on the monthly timeframe. We appeared to have been over bought for many months after the initial outbreak of the corona virus cause what most experts called a bubble. has the bubble popped? Perhaps it did but like bitcoin, CAC40 index, US30 index proved, chart memory is very powerful, we should see the NASDAQ index return to its bullish nature indefinitely. We could see some of the underperforming NASDAQ listed companies being recalled but what we know for certain is that the index will return to its bullish nature.
We're approaching the oversold mark on the weekly timeframe, I anticipate the index to begin to grow from there. I'm a swing trader and would like to see this play out long term. I have my buy limit set and will take my first profit at 17000, followed by the next at 18000.
What are your thoughts on the NASDAQ 100 index?
Hope that you are all have a blue Monday. It appears that we could see the rest of this month as a bearish month for the NASDAQ 100 index following a massive correction on the monthly timeframe. We appeared to have been over bought for many months after the initial outbreak of the corona virus cause what most experts called a bubble. has the bubble popped? Perhaps it did but like bitcoin, CAC40 index, US30 index proved, chart memory is very powerful, we should see the NASDAQ index return to its bullish nature indefinitely. We could see some of the underperforming NASDAQ listed companies being recalled but what we know for certain is that the index will return to its bullish nature.
We're approaching the oversold mark on the weekly timeframe, I anticipate the index to begin to grow from there. I'm a swing trader and would like to see this play out long term. I have my buy limit set and will take my first profit at 17000, followed by the next at 18000.
What are your thoughts on the NASDAQ 100 index?
Trade active:
Buy limit entered.
Trade closed manually:
Took profit
