NASDAQ 100 Forecast: Gaps Lower and Continues Overall Negative Attitude

With Jerome Powell dismissing hopes of a Fed tapering during Wednesday’s trading session, the market appears to remain under bearish pressure. The NASDAQ 100 spread fell to open trading on Thursday, suggesting a continuation of the negativity seen recently. Now that we are well below the 11,000 level, we are likely to continue much lower. At the end of the day, I think this is a market where every rally you have to look for signs of exhaustion to go short again. Finally, the NASDAQ 100 should remain somewhat subdued in light of Friday’s jobs report, which will obviously have a big impact on where we go next. Advertisement Stock Markets Crash Again Buy Dips Now! The market appears to be under continued bearish pressure after Jerome Powell shot down anyone’s hopes of a Fed tapering during Wednesday’s trading session. Therefore, it is likely that we will see a scenario where the market still favors the downside, but we may get some volatility to the upside. That could be especially true if the jobs numbers are softer than expected, as investors hope for bad news that will force the Federal Reserve to ease, or at least pause, monetary policy. I’m not interested in buying the stock market Of course this is complete nonsense and the Fed has already said they are far from trying to loosen monetary policy and believe they may have to stay tight longer than expected. and maybe even faster than expected. It’s like a death sentence for tech stocks, because venture capital plays a big role in what the tech ends up doing. Additionally, most stocks have extraordinarily high multiples, and Wall Street has been trying to drive them away for some time. If we break below the recent low, we can sell quite aggressively and look to reach the 10,000 level in sufficient time. A market reversal or break above the 11,000 level simply invites a short from higher levels, perhaps somewhere near the 11,500 level, where the 50-day EMA is currently located. I am not interested in buying the stock market, because even if we suddenly change the trend, we have a lot of time before it makes sense to start buying, because there is a lot of selling pressure to chew on.

James Rogers

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