Hello everyone. The unprecedented inflation figure since 1981 and possible two 50bps interest rate hikes have scared investors. I noticed on last Friday that almost everything drops, including crude oil, gold, natural gas, bitcoin, global stock indices. You name it.
Funds have flowed into dollar and treasury because those are safe-haven assets. Yen dropped a lot against dollar due to its monetary policy.
The disappointed earning from Netflix has weighed on the tech-heavy index since late last week. The fear quickly spread to the whole universe.
By anchored VWAP and abcd pattern, the previous low around 13000 is very likely to be violated soon. The potential solid defense line, in my opinion, is around 12400.
What do you think? Give me a like if you're with me.