NASDAQ - SELL IDEA

In my latest analysis of NASDAQ, I've identified a compelling SHORT opportunity amidst the index's current conditions. Technical indicators signal a potential downturn, with NASDAQ facing resistance at key levels and showing signs of exhaustion after a prolonged uptrend. A bearish divergence on the RSI, coupled with a bearish crossover in the MACD, suggests a weakening momentum and the potential for a corrective pullback.

The broader economic context adds to the bearish case. With valuations stretched and investors increasingly cautious amid rising interest rates and inflation concerns, there's a growing sentiment that a market correction could be on the horizon. Additionally, the tech-heavy index may be particularly vulnerable to shifts in market sentiment and regulatory concerns, further supporting a SHORT stance.

Entering this SHORT trade, strategic entry points have been identified to capitalize on the anticipated decline, with targets and stop-losses meticulously planned to navigate this trade effectively. This strategy aims to leverage the potential market adjustment, offering a calculated approach to profit from the NASDAQ's expected retracement

Trade closed manually