The NASDAQ 100 broke down during the course of the week, and sliced all the way down to the 4000 area on Friday. Ultimately, the market should continue to
The NASDAQ 100 broke down during the course of the week, and sliced all the way down to the 4000 area on Friday. Ultimately, the market should continue to see bearish pressure, but at this point in time we need to break down below the 4000 level in order to feel comfortable shorting from a longer-term perspective. Nonetheless though, this is a market that looks very damaged and at this point in time we believe that the sellers will continue to take advantage of any type of rally at this point in time and of course a break down as well.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
