Nasdaq is setting for the rebound
Nasdaq had bounced off the trendline yesterday, as rotation between financial and tech stocks has begun.
Yesterday's speech of Jerome Powell, head of the Federal Reserve, had confirmed the odds of a possible interest rate decline for September's meeting of the Fed.
The earnings season is going on, with AAPL, AMZN and INTC scheduled to release earnings reports after the market close. Usually, that's a bullish factor.
It's a possibility to open a long trade and anticipate a continuation of the upswing, as shown at the chart.
Yesterday's speech of Jerome Powell, head of the Federal Reserve, had confirmed the odds of a possible interest rate decline for September's meeting of the Fed.
The earnings season is going on, with AAPL, AMZN and INTC scheduled to release earnings reports after the market close. Usually, that's a bullish factor.
It's a possibility to open a long trade and anticipate a continuation of the upswing, as shown at the chart.
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