Nasdaq- What's Next?
Been a while posting about Nasdaq composite index (or Nasdaq) so here is an update:
Fundamentals are scary as we all know.
Russians are preparing for a 'second round' of attacks on Kiev and no political solutions or a serious attempt is expected soon. It's a major issue for the global economy.
Time will be pushing Putin as well, trust me. So we might hopefully see the end of this soon but NOT yet... 😰🙏🌐
In the meantime the Dollar is killing all other currencies and that's an ice cream nobody likes to take. Unless you are Biden (hindustantimes.com/world-news/joe-biden-news-joe-biden-ice-cream-us-midterm-elections-joe-biden-in-portland-watch-nothing-just-joe-biden-eating-ice-cream-he-chose-the-flavour-101665909805010.html) 🫥💩
European economy is flirting with a recession and protests arise (twitter.com/JamesMelville/status/1581919137017696256?s=20&t=-UQMRGsHZQVE2z8fcLgVzw) in France🇫🇷 (twitter.com/sswesner/status/1581665692902133760?s=20&t=33MGM5oW2ksOym38BjoanQ)Italy🇮🇹Belgium🇧🇪Germany🇩🇪 and other countries. Europeans are getting pissed off...🤬
In the meantime in England Liz Truss (or short term expiring trash) (twitter.com/brianklaas/status/1580914221399015427?s=20&t=FtmDa2xrRLnFZc6mrWPANg) can not have a 'pivot' so there goes everyone else's hopium of seeing lower interest rates back that soon..
Donald Trump 🎃 is attempting a rebound of his own to 'Save America' this time (he made is great again the last time?) (dailymail.co.uk/news/article-11296529/Trump-mocks-Biden-Nevada-rally-two-minute-WWE-style-highlight-reel-gaffes.html)
In the meantime we expect a new 75basis Rate hike by the Feds.
Finally, something we haven't seen before:
the Chinese postponed releasing their GDP (bloomberg.com/news/articles/2022-10-17/china-delays-release-of-gdp-data-due-tuesday-no-reason-given?utm_source=google&utm_medium=bd&cmpId=google) today. No reason offered!
In other words:
the Fundamentals are BAD 🙀 but regardless:
we always follow the chart!
Chart shows resistance at 11030-11043 and possible visit below the 10,000 mark to 9040 or even 8455
Not a good chart but things do change fast and will keep you posted.
One Love,
The FXPROFESSOR
Fundamentals are scary as we all know.
Russians are preparing for a 'second round' of attacks on Kiev and no political solutions or a serious attempt is expected soon. It's a major issue for the global economy.
Time will be pushing Putin as well, trust me. So we might hopefully see the end of this soon but NOT yet... 😰🙏🌐
In the meantime the Dollar is killing all other currencies and that's an ice cream nobody likes to take. Unless you are Biden (hindustantimes.com/world-news/joe-biden-news-joe-biden-ice-cream-us-midterm-elections-joe-biden-in-portland-watch-nothing-just-joe-biden-eating-ice-cream-he-chose-the-flavour-101665909805010.html) 🫥💩
European economy is flirting with a recession and protests arise (twitter.com/JamesMelville/status/1581919137017696256?s=20&t=-UQMRGsHZQVE2z8fcLgVzw) in France🇫🇷 (twitter.com/sswesner/status/1581665692902133760?s=20&t=33MGM5oW2ksOym38BjoanQ)Italy🇮🇹Belgium🇧🇪Germany🇩🇪 and other countries. Europeans are getting pissed off...🤬
In the meantime in England Liz Truss (or short term expiring trash) (twitter.com/brianklaas/status/1580914221399015427?s=20&t=FtmDa2xrRLnFZc6mrWPANg) can not have a 'pivot' so there goes everyone else's hopium of seeing lower interest rates back that soon..
Donald Trump 🎃 is attempting a rebound of his own to 'Save America' this time (he made is great again the last time?) (dailymail.co.uk/news/article-11296529/Trump-mocks-Biden-Nevada-rally-two-minute-WWE-style-highlight-reel-gaffes.html)
In the meantime we expect a new 75basis Rate hike by the Feds.
Finally, something we haven't seen before:
the Chinese postponed releasing their GDP (bloomberg.com/news/articles/2022-10-17/china-delays-release-of-gdp-data-due-tuesday-no-reason-given?utm_source=google&utm_medium=bd&cmpId=google) today. No reason offered!
In other words:
the Fundamentals are BAD 🙀 but regardless:
we always follow the chart!
Chart shows resistance at 11030-11043 and possible visit below the 10,000 mark to 9040 or even 8455
Not a good chart but things do change fast and will keep you posted.
One Love,
The FXPROFESSOR
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🌐 Public Telegram: t.me/fxprofessor88
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