Weekly and Monthly remain bullish and uptrend.
-- Nasdaq --
+ Daily chart - Weak hammer candle bouncing from trendline and 10400 support zone.
+ Sign of Classical Bullish Divergence seen on H4
- FiFT still -ve
- ATOM crossing below mid line.
-- XLK (US Tech sectors) --
Uptrend still intact but index close below EMA20 for the first time since 3rd April.
ATOM crossing below midline and FiFT remain -ve on daily chart..
Summary
Remain cautious with technology sector. Hit & Run or take partial profit when hit certain target is probably a good strategy ..
However, it will be an opportunity to buy low if Nasdaq and XLK able to bounce from key support zone / trendline.
-- Nasdaq --
+ Daily chart - Weak hammer candle bouncing from trendline and 10400 support zone.
+ Sign of Classical Bullish Divergence seen on H4
- FiFT still -ve
- ATOM crossing below mid line.
-- XLK (US Tech sectors) --
Uptrend still intact but index close below EMA20 for the first time since 3rd April.
ATOM crossing below midline and FiFT remain -ve on daily chart..
Summary
Remain cautious with technology sector. Hit & Run or take partial profit when hit certain target is probably a good strategy ..
However, it will be an opportunity to buy low if Nasdaq and XLK able to bounce from key support zone / trendline.
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