The NASDAQ as you can see gapped lower at the open on Thursday, but turned back around to go much higher. The positive candle of course is a good sign
The NASDAQ as you can see gapped lower at the open on Thursday, but turned back around to go much higher. The positive candle of course is a good sign going forward, but we need to clear the 4300 level in order to be comfortable buying this marketplace. Between now and then, we believe that this market will probably bang around, looking for some type of supportive move in order to finally turn things back around as it has been oversold for some time ultimately, we think that buyers return to the NASDAQ and the US stock markets in general after this significant sell off.
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.
