NASDAQ (05/06/2020) - Wait for bear signal! Stay neutral
FA
-Cov-19 death toll spiked today
www.worldometers.inf...onavirus/country/us/
-FED is preparing to buy ETF (mainly bad corporate debt)
www.marketwatch.com/...early-may-2020-05-04
-More economy data will be released during this week.
tradingeconomics.com/calendar
TA
There were multiple rejections in NDX during the market hour when NDX tried to come back to the strong bullish trend (green lines). As a result, a drop happened.
Tomorrow, we will expect to see a reversal signal, if and only if NDX opens with a gap down and hold 8830 level (below EMA) til closing.
So far NDX is trading above the moving average, which means bullish.
Bottom line: flat or little bullish.
Good luck.
-Cov-19 death toll spiked today
www.worldometers.inf...onavirus/country/us/
-FED is preparing to buy ETF (mainly bad corporate debt)
www.marketwatch.com/...early-may-2020-05-04
-More economy data will be released during this week.
tradingeconomics.com/calendar
TA
There were multiple rejections in NDX during the market hour when NDX tried to come back to the strong bullish trend (green lines). As a result, a drop happened.
Tomorrow, we will expect to see a reversal signal, if and only if NDX opens with a gap down and hold 8830 level (below EMA) til closing.
So far NDX is trading above the moving average, which means bullish.
Bottom line: flat or little bullish.
Good luck.