NDX: Pullback ahead?

20 พ.ค. 2021

Hello traders and investors! Let’s see how the tech index is doing today!

First, in the 1h chart, it looks like we found a ceiling. The white area is a resistance level, and given how the index performed recently, I wouldn’t be surprised if it does a pullback to the 21 ema again.

We just defeated the 13,430, indicating that the short-term trend is bullish, but pullbacks are acceptable here. If we look at the daily chart, there’s one more thing to keep in mind:



We just hit the 21 ema, and we are trading above it right now, but there’s still time for a bearish reaction. But maybe I’m overestimating the bears again. Also, keep in mind that pullbacks would be opportunities to buy.

I would be surprised if the index defeats the 21 ema and hits the 13,700 in one single movement, but there is this possibility. Also, we have some gaps up there, and they will help to push the prices up in the mid-term.

The US market is looking great, along with Chinese and Brazilian markets. For instance, despite the sell-off seen around, in the past few months our private group has been trading some Brazilian ADRs, which have been doing amazingly well, and they do bring some equilibrium to our portfolios.

Right now, the market seems optimistic, but we must always seek balance, and work calmly, always seeking opportunities, preferably, where nobody else is looking.

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