US Nas 100Short
Nasdaq Trade idea - a bearish move down
Nasdaq has been following technical analysis perfectly so far this week, we can see price playing within the consolidation zone and still within the possible head and shoulders pattern, I'm expecting two possible outcomes today:
1: rejection on the top of consolidation which could give us our weekly lower high to follow of the trend from last week.
2: double top of the head on the head and shoulders pattern which will be invalid (h&s)
we have therefore have 3 sell zones - consolidation, double top and a late sell zone if price enters our bearish trend.
fundamentally we can see some signs that hint on a continuation of sellers coming into the market.
″[The] market could continue to reflect concerns around financial conditions tightening and earnings growth slowing,” Lauren Goodwin, economist and portfolio strategist at New York Life Investments, said in a note.
1: rejection on the top of consolidation which could give us our weekly lower high to follow of the trend from last week.
2: double top of the head on the head and shoulders pattern which will be invalid (h&s)
we have therefore have 3 sell zones - consolidation, double top and a late sell zone if price enters our bearish trend.
fundamentally we can see some signs that hint on a continuation of sellers coming into the market.
″[The] market could continue to reflect concerns around financial conditions tightening and earnings growth slowing,” Lauren Goodwin, economist and portfolio strategist at New York Life Investments, said in a note.
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