NASDAQ - Employment Will be Key

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The rebound at 11700 was good news but we are already testing that level again.
Technically, NASDAQ has support at 11700 and 11300, so we wouldn't be surprised if the rebound does happen. If the price dips under 11200 though then 'Run for the Hills'.

The US economy as well as the Global markets are facing 'Stagflation worries : fortune.com/2022/05/18/recession-stagflation-unavoidable-mohamed-el-erian-inflation-federal-reserve/

Traditionally, employment data is the metric the Feds take most into consideration when it comes to deciding monetary policy. The next employment data reports will be massively important to follow/ and trade.

For now, worries are On but despite the fact that Biden administration does not offer anyone any great level of 'trust and acceptance', the Federal Reserve has been known to be very good at tackling problems of this kind.

Let us know your thought.

One Love,

the FXPROFESSOR