Nasdaq Update

OANDA:NAS100USD   US Nas 100
Same as SP500 , though here the chart allows adding a bit more detail. Again this is not an attempt to forecast price developments before they happen rather I am trying to illuminate that next few weeks can be challenging in terms of trading. The base case scenario has got more complex than it used to be last week, although the big picture remains largely unchanged.

My experience shows that good analytics is not about building a credible base case on a single timeframe. It is about about stitching wave counts on many layers in such way that (i) lower times frames support and validate the bigger picture and (ii) the bigger picture provides guidance so that we can stick to our trades in times of doubt when short-term opens up an array of possibilities.


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