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Nasdaqanalysis

NASDAQ 100 - the push to the upside is now expectedTraders, as you already know due to the lately COVID-19 outbreak markets started to fall for the recent week. The Virus fears raise as the"W.H.O." raises coronavirus threat assessment, now says virus poses a ‘very high’ risk at a global level" - cnbc.com. Price is now trading at a previous strong demand area, already retested the 8.200 level. We now expect the push to the upside from the demand area, due to the tweet on 28 Feb " POWELL SAYS FED WILL USE ITS TOOLS AND ACT AS APPROPRIATE TO SUPPORT THE ECONOMY"@FxMacro Now as we approach summer, the Virus-infected cases should start to decrease as the COVID-19 only survives under 26 degrees Celsius. We don't see concrete signs of a recession. Gold is also dropping, might create now an h&s pattern, signaling a reversal to 1400. Monthly indicators and moving averages are signaling strong buy, the bullish momentum is still valid from a technical view. We will long at 8.400 and have our fist target to the 50 EMA, 9000. Keep in mind that the Corona Virus news might still impact the markets in the following weeks, use proper risk management.
ULong
by TradingExpertGroup
NASDAQ Technical analysisFor weeks, stock investors have been riding the waves of positive chatter on the trade deal, better-than-expected earnings, and a third rate cut by the Fed, to record highs. But please remember that it’s a two-sided game. The same events that drove indexes higher may be signaling they are ready to take back some of those gains. Looking ahead notable earnings reports today include Lowe’s and Target. Speaking technically, a sustained move above 8,340 will indicate the presence of buyers. This could trigger a rebound rally later in the session with the first target 8,360.00. This is a potential trigger point for an acceleration to the upside. A convincing move under yesterday's low 8,308.30 and the trend line of support will signal the presence of sellers. The first target is 50-day SMA on 4-hour chart at 8,119.4. A clear break under it will change the main trend to down. This could trigger a further break to the next bottom around psychological 8,000 support. Take in mind, that there also is located Ichimoku cloud. Our advice is to start looking for value areas and to try to avoid investing on the fear that you are going to miss a major rally. Signs of slower consumer spending, a pause in rate cuts and unstable trade negotiations are not reasons to chase stocks higher.
TVC:NDQ
by ForexTrendline