NASDAQ has more downside
The NASDAQ futures are ominous... for more downside movement, given that the first projected downside target has been hit, and exceeded.
The NASDAQ weekly chart is bearish looking, with technical indicators supporting that view.
Still aiming for <10K (9600).
The daily chart has slightly better technicals on the MACD, but it is probably an artefact of the Thursday surge. Nonetheless, the Friday wash out bearish candle left no prisoners with closing at the YTD low.
Bearish momentum is clear and present.
The NASDAQ weekly chart is bearish looking, with technical indicators supporting that view.
Still aiming for <10K (9600).
The daily chart has slightly better technicals on the MACD, but it is probably an artefact of the Thursday surge. Nonetheless, the Friday wash out bearish candle left no prisoners with closing at the YTD low.
Bearish momentum is clear and present.
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