Lack In Hawk Strength, NASDAQ Rebound From The Bottom
J.Powell’s Standpoint Weren’t Hawkish Enough, Leading NASDAQ To Emerged Rebound
Investors are recommended to consider for High-Throw for Short position at near 15900, Take-Profit at 15650, Stop-Loss by 16020
Yesterday, NASDAQ opened lower and rose by 1.33%. This was due to Powell’s attitude at the hearing was not as hawkish as the market expected, many officials believed that matters related to raising interest rates and shrinking the balance sheet should be decided as soon as possible, but Powell said that multiple decision meetings may be required prior to the decision been made. This outcome has stimulated the investors to return to the technology stocks at bargain prices. Although the FED’s stance is not as tough as expected, and it still has reserved the room for flexibility. If the Consumer Price Index(CPI) data rises sharply again in the evening, it is necessary to pay attention to performance on NASDAQ, what may reveals the underselling pressure after the Bear Trend was assured from the result of CPI.
In Daily range, 5MA up-bent, 20MA declines, KD neutral. In 4Hrs range, 5MA up-crossed 20MA, KD apt Bear. In 60Mins, 5 & 20MAs advancing, KD prone Bull. Although NASDAQ did shows the rebound phenomenon, but since the cash-out selling pressure still remains on top, therefore, would suggest Investors to consider Shorting NASDAQ at relative high for best possible interest.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)