Hello altogether,
Today we want to look at the Nasdaq index.
Fundamentally we are in a bit of uncertainty:
- Delta variant of Covid is spreading strongly
- Markets seem to be pushed a bit too high
- Fed is already talking about tapering, since the economical data releases are looking quite healthy for a while
Above can give the USD a push higher and could put some pressure on indices - especially the pretty overbought Nasdaq.
On the Nasdaq, we can also clearly see that the RSI is not able to reach new highs, whilst the index itself is trading close to its ATH. This is a bearish sign to me.
I am currently looking for a sell. Putting my stop right above the last ATH and am looking for a correction to my limit into the 13.700 - 14.000 area, where we can find our next big vertical as well as horizontal support.
Today we want to look at the Nasdaq index.
Fundamentally we are in a bit of uncertainty:
- Delta variant of Covid is spreading strongly
- Markets seem to be pushed a bit too high
- Fed is already talking about tapering, since the economical data releases are looking quite healthy for a while
Above can give the USD a push higher and could put some pressure on indices - especially the pretty overbought Nasdaq.
On the Nasdaq, we can also clearly see that the RSI is not able to reach new highs, whilst the index itself is trading close to its ATH. This is a bearish sign to me.
I am currently looking for a sell. Putting my stop right above the last ATH and am looking for a correction to my limit into the 13.700 - 14.000 area, where we can find our next big vertical as well as horizontal support.
Trade closed: stop reached:
A strong move back upwards closed this trade.
No loss was made, since we moved our stop to break even to protect against losses.
No loss was made, since we moved our stop to break even to protect against losses.
Moving Stop to break even to protect against losses.