I think NASDAQ100 will soon Break below its support level and we are about to see another 10% correction in the next few weeks.
The technical reason:
NDX components are breaking below their previous support levels one after the other: *Do not forget: it is very possible to see sharp rallies of short coverings in MAy-June before June 17th which is the next Quadruple Witch..!
The fundamental Reason: QT+ Slower Economy+ Inflation Quantitative tightening (QT) is a contractionary monetary policy that is the reverse of QE.
***If you find some terms strange, check my previous posts..!
1- NFLX:
2- LCID:
3- NVDA:
4- PYPL:
5- MATCH:
6- AMD:
7- DDOG:
8- ISRG:
9- FB:
10- ALGN:
11- MRVL:
12- SBUX:
13- AMAT:
14- IDXX:
15- WDAY:
16- SWKS:
17- GOOG:
18- OKTA:
19- ANSS:
20- LRCX:
21- ILMN:
22- MU:
23-ADSK:
24- MSFT:
25- ADBE:
26- CHTR:
27- CSCO:
28- ATVI:
Best,
Dr. Moshkelgosha M.D
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"Do not forget: it is very possible to see sharp rallies of short coverings in MAy-June before June 17th which is the next Quadruple Witch..!" Next tradable low is in June imho. This will be different this time.
@fantasyste, No matter what the Fed does ie: tool box talk, soft landing rhetoric etc... they will in no way have influence on the downward trajectory the market is heading, they are behind the curve at least a year, their mis-calculation and attempts to catch up and tame inflation will be futile. that is not to say there won't be rallies, there will, but near the end of summer going into fall their dog and pony show will be rendered insignificant and then a loss of confidence will ensue and that is very bad going forward imho.
fantasyste
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@Peterson, man, with a new variant the game changes. No inflation (what matters to big guys) and poverty for all the rest of the people (goyim). I agree with you about this fall (fall in both senses)