Thursday’s Tesla-driven sell-off in Nasdaq 100 futures may flip into a Friday squeeze ahead of nonfarm payrolls, with Politico reporting that Elon Musk and Donald Trump have a scheduled phone call later today to broker a peace deal.
Given their sparring on Thursday was a key factor behind the Nasdaq nosedive, the headlines could help reverse the move into the European session.
Traders may look to establish longs with a stop beneath the intersection of minor horizontal and uptrend support near 21,436. Thursday’s session high screens as a potential target. If the headlines are refuted—or price action fails to respond—both could be grounds to cut the trade.
Good luck!
DS
Given their sparring on Thursday was a key factor behind the Nasdaq nosedive, the headlines could help reverse the move into the European session.
Traders may look to establish longs with a stop beneath the intersection of minor horizontal and uptrend support near 21,436. Thursday’s session high screens as a potential target. If the headlines are refuted—or price action fails to respond—both could be grounds to cut the trade.
Good luck!
DS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.