NASDAQ pull back to 8400
As I explain in previous ideas with SP500 and DOW JONES we are gonna se a big correction in index.
In SP500 we can go through 2650 or if it is worse scenario (TRUMP arguing strong agains China) could go to 2400. There even going more tension in economics between the two countries I spect the health crisis will be droping very good data.
In DOW Jones it will be very similar, having a retracement until 22.000 (worse scenario could be 20.000), I didnt think that negative, but could be.
So Nasdaq has a better behaviour than rest of index, very influenced with big companies like FB, GOOGLE (ALPHABET), MICROSOFT, APPLE. But it has recover near the value it had and now it can down easily. I think in proportion can be similar behaviour right now to the other index, but next time all recover it can arrive probably to the previous value. And stay between 10.000 and 9.300 for a while. I think it could happen that at the end of the year, even before USA presidential elections.
In resume, this downside is a normal behaviour like a correction.I guess first of June will be up all index, to be the last rally. SUMMER will be a very slow correction (10%) until end of September..
In SP500 we can go through 2650 or if it is worse scenario (TRUMP arguing strong agains China) could go to 2400. There even going more tension in economics between the two countries I spect the health crisis will be droping very good data.
In DOW Jones it will be very similar, having a retracement until 22.000 (worse scenario could be 20.000), I didnt think that negative, but could be.
So Nasdaq has a better behaviour than rest of index, very influenced with big companies like FB, GOOGLE (ALPHABET), MICROSOFT, APPLE. But it has recover near the value it had and now it can down easily. I think in proportion can be similar behaviour right now to the other index, but next time all recover it can arrive probably to the previous value. And stay between 10.000 and 9.300 for a while. I think it could happen that at the end of the year, even before USA presidential elections.
In resume, this downside is a normal behaviour like a correction.I guess first of June will be up all index, to be the last rally. SUMMER will be a very slow correction (10%) until end of September..
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