Nasdaq 100 What Now Episode 3
Updated
Hey traders, If you're seeing this one, it means I was able to post this. The Nasdaq 100 dropped 2% after that double top showed up. I described what looks like an inverse head and shoulder forming, where the bulls are going for that higher-low.
The VXN on the other hand hit a resistance at 30.50 and if this is just a retest to the 28 point support, then the VXN bulls will be back and the Nasdaq 100 bears will take us for another rude.
I see a 14200 reach, however, I'm keeping an open-mind to the whole situation.
Yesterday's FOMC gave us a gap-fill then a continuation to the downside. Some fed officials wanted a 0.5% rate hike to arrest inflation quickly.
Investors became unnerved by the idea of the increase causing an effect on the Nasdaq although, not a news fan but maybe.. That got a reaction.
Look at this plan:
VXN chart:
Hey trader, if you loved this one, leave a like, comment, follow, and share your thoughts in the comment below. I love reading them.
Cheers,
Lazyluchi..
The VXN on the other hand hit a resistance at 30.50 and if this is just a retest to the 28 point support, then the VXN bulls will be back and the Nasdaq 100 bears will take us for another rude.
I see a 14200 reach, however, I'm keeping an open-mind to the whole situation.
Yesterday's FOMC gave us a gap-fill then a continuation to the downside. Some fed officials wanted a 0.5% rate hike to arrest inflation quickly.
Investors became unnerved by the idea of the increase causing an effect on the Nasdaq although, not a news fan but maybe.. That got a reaction.
Look at this plan:
VXN chart:
Hey trader, if you loved this one, leave a like, comment, follow, and share your thoughts in the comment below. I love reading them.
Cheers,
Lazyluchi..
Note
VXN chart:Note
Plan:If I get that retest for a next low at 14300, I go short. If not a wait for a bullish sign.. Stay active for the initial jobless claims news.
Note
The first plan was a bust. Waiting to see what the bulls decide on..Note
Took this one for study, divergence---popping but bears not really in control
Note
Trade plan went fine. However, the market didn't exactly go smoothly so I couldn't trades via stream. Till tomorrow guys---Cheers!Stay safe.
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