NASDAQ is still extremely strong, nevertheless:
It seems that in recent trading days some investors are reducing their exposure in US Tec. The timeframes for new highs are decreasing while the delta from the last high is decreasing as well. In addition, during the last 5 trading days the volume increased, i.e. investors needed to spend more money for less price action. As we know, liquidity is not a big issue for the big investors right now. Nevertheless, it could make sense for them, to decrease their daily investments in order to stimulate other investors to protect the existing exposure. Most of the existing investors are extremely sensitive when it comes to the daily EMA & Pivot Points. The last real support in the NASDAQ was around 9,050 (Jan/ Feb 2020 AND May 2020) while we saw a test of the 9,250 twice in recent days.
So, in order to get all investors onboard again and to motivate them a little bit, I see a potential short opportunity with targets 9,250 and 9,050.
I start to short the NASDAQ immediately nevertheless I keep the option to short the NASDAQ around 9,700 again.
Stay save.
It seems that in recent trading days some investors are reducing their exposure in US Tec. The timeframes for new highs are decreasing while the delta from the last high is decreasing as well. In addition, during the last 5 trading days the volume increased, i.e. investors needed to spend more money for less price action. As we know, liquidity is not a big issue for the big investors right now. Nevertheless, it could make sense for them, to decrease their daily investments in order to stimulate other investors to protect the existing exposure. Most of the existing investors are extremely sensitive when it comes to the daily EMA & Pivot Points. The last real support in the NASDAQ was around 9,050 (Jan/ Feb 2020 AND May 2020) while we saw a test of the 9,250 twice in recent days.
So, in order to get all investors onboard again and to motivate them a little bit, I see a potential short opportunity with targets 9,250 and 9,050.
I start to short the NASDAQ immediately nevertheless I keep the option to short the NASDAQ around 9,700 again.
Stay save.
Trade active:
First shorts around 9,550.
Comment:
As written second short position.
Trade closed: stop reached