U.S. Core Retail Sales Data Exceeds Expectations, Nasdaq Fights On The Side Of The Bulls And Bears
U.S. Core Retail Sales data hits a new high in March last year, Nasdaq shock and in bullish.
Aggressors are recommended to consider marginal Long at market price, Target 14740, Stop-Loss by 14450.
U.S. retail sales (terror data) in January recorded a monthly rate of 3.8%, it was significantly higher than the expected 2% and hit a new high in March last year. The overall increase in sales implied strong demand for consumption of goods in the United States, which should help the stock index continue to rise. There is no more hawkish opinion in the minutes of the FED meeting. Many participants believed this tightening cycle would be quicker than in 2015 and supported the start of balance sheet reductions later this year. On the whole, investors are suggested to trade Nasdaq with a buy order as the main idea.
In the daily K-line chart, price break through the MA5, MA10, and MA20 moving averages indicates an initial rebound pattern, the sub-indicator MACD multilateral momentum slowly increased, KD double line is located near 50 indicates long-short price neutrality. On the whole, Nasdaq is still in a volatile and bullish market.
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