NASDAQ 100 Index Has a Wicked Reversal - When should we start selling?
Enter your emailI am looking for signs of exhaustion or continuation to start shorting.gaps higher to kick off the trading session on Thursday, but then turns right back around at the 13,500 level to show signs of exhaustion.
Furthermore, you need to pay close attention to the bond market, because of the bond market continues to see rising rates, which will be significant as far as negative influences are concerned on this market.The 13,000 level underneath will be important, and therefore you need to pay close attention to it. If we break down below it, then I think we could start to see a rather significant selloff, with a potential to drop all the way down to the 12,250 level.
On the other hand, if we break above the heights of the day, then it’s likely that we could go testing the 200 Day EMA above.I think ultimately, above there then you would have to look at this through the prism of a “buy-and-hold” attitude. All things being equal, this is a market that I think will continue to be a situation where the bond market will be driving everything.
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