Daily head and shoulders formed - missed short at 4810 (right shoulder 61.8% retracement)
|Missed Short: 4810 |Stop (Over Head): 4917 |Target: 4400 |
Looking to take a short entry on an hourly pullback next week.
TECHNICAL:
- Head and Shoulders (right shoulder entry missed)
- Flat Neckline
- Expecting sell off to test neckline at 4650
- 20MA crossed under 50MA
FUNDAMENTAL:
- Trump potential policies (Infrastructure Spending)(Pull in overseas tax havens and jobs - affecting tech sector)
- FED Interest Rate Decision December 14th
I am anticipating a long term sell-off in the $NDX based on the above information but I currently do not have a position.
Near term target 4650 (Neckline). It will be interesting to see if the FED hikes rates this will push most US indices lower. But again the chances of this are now below 50%. The disconnect between $RUT $DJI $SPX and $NDX is very interesting - sitting on hands for further information.
Source:
www.bloomberg.com/ne...trump-leads-in-polls
|Missed Short: 4810 |Stop (Over Head): 4917 |Target: 4400 |
Looking to take a short entry on an hourly pullback next week.
TECHNICAL:
- Head and Shoulders (right shoulder entry missed)
- Flat Neckline
- Expecting sell off to test neckline at 4650
- 20MA crossed under 50MA
FUNDAMENTAL:
- Trump potential policies (Infrastructure Spending)(Pull in overseas tax havens and jobs - affecting tech sector)
- FED Interest Rate Decision December 14th
I am anticipating a long term sell-off in the $NDX based on the above information but I currently do not have a position.
Near term target 4650 (Neckline). It will be interesting to see if the FED hikes rates this will push most US indices lower. But again the chances of this are now below 50%. The disconnect between $RUT $DJI $SPX and $NDX is very interesting - sitting on hands for further information.
Source:
www.bloomberg.com/ne...trump-leads-in-polls