What next for the Nasdaq 100?
US equity markets closed lower overnight, perhaps anticipating the disappointment that has followed Nvidia's earnings report.
With a sustained break below the 19,400 (highlighted on Monday in the article link below) level all but guaranteed after Nvidia's earnings report and ahead of the seasonally challenging month of September, we take this opportunity to move to tactically short bias in the Nasdaq 100.
Leaning against last week's swing high of 19,938, we look for a decline towards support 18,000/17,800 area coming from the 200 day ma and uptrend support from the December 22 10,671 low.
Link here to the article and video from Monday
ig.com/au/news-and-trade-ideas/wall-street--us-stocks-rise-ahead-of-ai-giant-nvidia-s-eagerly-a-240826
With a sustained break below the 19,400 (highlighted on Monday in the article link below) level all but guaranteed after Nvidia's earnings report and ahead of the seasonally challenging month of September, we take this opportunity to move to tactically short bias in the Nasdaq 100.
Leaning against last week's swing high of 19,938, we look for a decline towards support 18,000/17,800 area coming from the 200 day ma and uptrend support from the December 22 10,671 low.
Link here to the article and video from Monday
ig.com/au/news-and-trade-ideas/wall-street--us-stocks-rise-ahead-of-ai-giant-nvidia-s-eagerly-a-240826
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