Here are some thoughts on nasdaq...
We got wedge in wedge going on. These type of patterns usually resolve in big move to downside and its sharp. It is still bullish ichimoku however. Price has to break cloud for it to become bearish. By the time, that happens , the first leg to downside will finish and then it will pullback giving you second entry to ride the trend. I am not trying to short NAS100 here as it is top picking and not my style. This is just an observation . Fundamentally if fed hikes one more time, it wont go well for equities. Rising rates wont favour stocks. Will you invest in riskier investment or want something secure? It wont go well for bonds either. So ,I am cautious with both. Just thought to share. Once set up emerges i will share.
Thanks
We got wedge in wedge going on. These type of patterns usually resolve in big move to downside and its sharp. It is still bullish ichimoku however. Price has to break cloud for it to become bearish. By the time, that happens , the first leg to downside will finish and then it will pullback giving you second entry to ride the trend. I am not trying to short NAS100 here as it is top picking and not my style. This is just an observation . Fundamentally if fed hikes one more time, it wont go well for equities. Rising rates wont favour stocks. Will you invest in riskier investment or want something secure? It wont go well for bonds either. So ,I am cautious with both. Just thought to share. Once set up emerges i will share.
Thanks