The NASDAQ initially gapped higher at the open on Monday, but then turned back around to fall significantly. With that, it appears that the market needs
The NASDAQ initially gapped higher at the open on Monday, but then turned back around to fall significantly. With that, it appears that the market needs to consolidate a little bit in order to find buyers down here. We believe that the market has plenty of support all the way down to the 4300 level, so we are not interested whatsoever in selling this market and are simply waiting for supportive candles in order to go long again. We will admit that the market looks like it’s going to be very choppy in the meantime, so it’s very likely that trading this market will be difficult but we do have an upward bias overall.
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.
