Although I was bullish on some occasions, for a very short period of time (1-2 days), my overall outlook and expectations were for a deep correction in indices and especially Nasdaq.
At this moment seems we are at the beginning of this correction with the index bearing down under trend line and horizontal support.
Nas100 has started the year with a fall but managed to reverse and regain some of the losses. This was in fact a dead cat's rally and the index quickly resumed its initial move.
Yesterday we finally have a clear break under the important 15500 figure and I expect continuation.
My target is 14k and, in my opinion, rallies should be sold.
A negation comes if the price gets back above the 16k zone
At this moment seems we are at the beginning of this correction with the index bearing down under trend line and horizontal support.
Nas100 has started the year with a fall but managed to reverse and regain some of the losses. This was in fact a dead cat's rally and the index quickly resumed its initial move.
Yesterday we finally have a clear break under the important 15500 figure and I expect continuation.
My target is 14k and, in my opinion, rallies should be sold.
A negation comes if the price gets back above the 16k zone
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