SHORT NASDAQ 100
Tech sector is weak overall. Lead by major offloading in the Semis.
Combine this with increased QT which began on Sept 1st and we can see more downside.
Technical:
Broke major daily trendline, indicating more downside. We could bounce and retest the line before the next leg down
Fib retracement, still hovering within a potential bounce range.
12,000 QP psych level also in sight.
For us to see 11200 in the next few weeks, we need to drop below the 12,000 key level soon! I do see that happening.
Combine this with increased QT which began on Sept 1st and we can see more downside.
Technical:
Broke major daily trendline, indicating more downside. We could bounce and retest the line before the next leg down
Fib retracement, still hovering within a potential bounce range.
12,000 QP psych level also in sight.
For us to see 11200 in the next few weeks, we need to drop below the 12,000 key level soon! I do see that happening.
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