Longer-term bullish but resistance at 14,000 appears robust.
Potential for some consolidation in the 13,500-14,000 range.
Tight stop-loss just above all-time highs.
Recent pull-back in NASDAQ from all time highs has exceeded 10% driven by falling treasury bond prices.
Friday saw an end of week rally into close. This morning saw another sell-off through the Asian session presenting an attractive re-entry opportunity.
Tech stocks have retraced around -9.4% from their all time highs. I expect the FED to continue to reiterate that they will be keeping rates low for a long while. This should see interest rates settle from their recent pick-up. On this basis, I expect the bullish trend to continue out of this pull-back reaching new all-time-highs by mid-summer.
January we saw a steady grind higher in US equities until this week. This week felt very much like a repeat of last month, but the sell-off this time was bigger and faster. The market commentators are already speculating that this could be the start of a major correction in equities. The driving force? A rapid fall in long-term US treasury bond prices.
Bond...
