Thursday’s Tesla-driven sell-off in Nasdaq 100 futures may flip into a Friday squeeze ahead of nonfarm payrolls, with Politico reporting that Elon Musk and Donald Trump have a scheduled phone call later today to broker a peace deal.
Given their sparring on Thursday was a key factor behind the Nasdaq nosedive, the headlines could help reverse the move into the European session.
Traders may look to establish longs with a stop beneath the intersection of minor horizontal and uptrend support near 21,436. Thursday’s session high screens as a potential target. If the headlines are refuted—or price action fails to respond—both could be grounds to cut the trade.
Good luck!
DS
Given their sparring on Thursday was a key factor behind the Nasdaq nosedive, the headlines could help reverse the move into the European session.
Traders may look to establish longs with a stop beneath the intersection of minor horizontal and uptrend support near 21,436. Thursday’s session high screens as a potential target. If the headlines are refuted—or price action fails to respond—both could be grounds to cut the trade.
Good luck!
DS
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