I've been calling for a strong correction in the Nasdaq (and all major U.S. indices) since the start of the year—long before the tax war even began. I warned that a break below 20,000 was likely, with my final target set around 17,500.
And indeed, the index has fallen—regardless of what the so-called "cause" might be. Right now, Nasdaq is trading at 18,400, sitting right at a minor horizontal support zone.
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A Short-Term Rebound Before More Downside?
📉 Overall Bias Remains Bearish – The broader trend still points lower.
📈 Rebound Likely – A push above 19,000 in the coming days wouldn’t be surprising.
⚠️ High-Risk Setup – Going long here is risky, given the current macroeconomic backdrop.
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Trading Strategy: Short-Term vs. Long-Term
✅ For Short-Term Traders & Speculators – A temporary upside correction could offer a buying opportunity.
❌ For Swing & Long-Term Traders – It's better to wait for this rebound to fade and position short for the next leg down.
While a bounce could be on the cards, the bigger picture still points lower—I remain bearish in the long run. 🚀
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
And indeed, the index has fallen—regardless of what the so-called "cause" might be. Right now, Nasdaq is trading at 18,400, sitting right at a minor horizontal support zone.
________________________________________
A Short-Term Rebound Before More Downside?
📉 Overall Bias Remains Bearish – The broader trend still points lower.
📈 Rebound Likely – A push above 19,000 in the coming days wouldn’t be surprising.
⚠️ High-Risk Setup – Going long here is risky, given the current macroeconomic backdrop.
________________________________________
Trading Strategy: Short-Term vs. Long-Term
✅ For Short-Term Traders & Speculators – A temporary upside correction could offer a buying opportunity.
❌ For Swing & Long-Term Traders – It's better to wait for this rebound to fade and position short for the next leg down.
While a bounce could be on the cards, the bigger picture still points lower—I remain bearish in the long run. 🚀
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.