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Leo-btm
May 15, 2023 11:46 AM

Major drop on NASDAQ might happen.  Short

E-mini Nasdaq-100 FuturesCME

Description

NASDAQ / 1W

Hello traders, welcome back to another market breakdown.

NASDAQ chart from today looks similar to the pattern we had in 2000-2001 recession. If the US will indeed a recession by the end of this year or the coming year then it's worth watching over this pattern that lead to the major drop.

Checkout the chart for more details on levels I'm watching for long term setups and where I'll be cautious to inverst any money in the technology sector.

Trade safely,
Trader Leo.
Comments
basictradingtv
Interesting comparison, thanks!
Leo-btm
@basictradingtv welcome mate
EliteTradingSignals
Good idea my friend!
Leo-btm
Leo-btm
Let me know what you think traders.
habibalby
@Leo-btm, don't you think that it should retrace a bit 13150 ~ 13190 and then continue ?
Leo-btm
@habibalby, I'm watching for 13490-13524 for a potential sell zone that might lead for a deep pull-back for short term
ArmanShabanTrading
Well explained!
WalterMoon
Exceptional work you are doing for NQ1
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