Hello everybody, yesterday was just guessing what's the next move.
Admitting that US10Y Yields rise a bit more this is my prospect for the NASDAQ-100.
I know it is a bit messy and i apologize with that but well wasn't my aim to publish it.
I started looking at the support lines, drawed in yellow, that also correspond to Fibonacci's retracement.
I saw from the bottom of April how the deviance impact on the chart.
Then i looked at the change of trend's inclination, as you can see from the blue lines, where the lower one in my idea is the next trend line if the market will continue its bullish pattern.
Well in my opinion we are out about an imminent correction in the first 2/3 days. It is more probably that US100 may fall a bit more after not rising above a significant fibonacci layer on friday.
As a play i tried to figured out the right points where the Index could touch.
We have 2 possibilities.
1) We go down till 3 on march and the we correct. (but in my opinion even if more probably for everyone this is not what will happen... if you just see the September-November Correction is really too big without any Yield threatening it.
2) We go down till touching the support created in november, and going like under 12000. After which we could have a correction (more probable in my opinion)
I'm happy to hear your thought about it :)
Good day
Admitting that US10Y Yields rise a bit more this is my prospect for the NASDAQ-100.
I know it is a bit messy and i apologize with that but well wasn't my aim to publish it.
I started looking at the support lines, drawed in yellow, that also correspond to Fibonacci's retracement.
I saw from the bottom of April how the deviance impact on the chart.
Then i looked at the change of trend's inclination, as you can see from the blue lines, where the lower one in my idea is the next trend line if the market will continue its bullish pattern.
Well in my opinion we are out about an imminent correction in the first 2/3 days. It is more probably that US100 may fall a bit more after not rising above a significant fibonacci layer on friday.
As a play i tried to figured out the right points where the Index could touch.
We have 2 possibilities.
1) We go down till 3 on march and the we correct. (but in my opinion even if more probably for everyone this is not what will happen... if you just see the September-November Correction is really too big without any Yield threatening it.
2) We go down till touching the support created in november, and going like under 12000. After which we could have a correction (more probable in my opinion)
I'm happy to hear your thought about it :)
Good day