The NASDAQ as you can see initially gapped lower at the open on Tuesday, and then drove even lower. However, we are getting close to the 5000 level which
The NASDAQ as you can see initially gapped lower at the open on Tuesday, and then drove even lower. However, we are getting close to the 5000 level which should be the support that the market looking for. After all, it is a large, round, psychologically significant number. There was a gap there, so it’s probably only a matter time before the buyers get involved again. We have no interest in selling, because quite frankly there’s more than enough support below from the longer-term charts in order to keep us from selling at this point in time.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
