Got to be honest i didnt expect the Nasdaq to move the way it has during covid times..
But then thinking whats the max this excess liquidty can take it..my guess would be 10650. (Fibo resistance but also a major long term channel top)
So if the markets dont correct from here that would be the key key level at which my caution meter would be sky high..
Keep this on your watch list and watch this space as best you can...
No trade here but this might decide the direction of global markets going ahead..
Ps: Had posted the same chart yest but by mistake referred to it is DJI... #apologies.
But then thinking whats the max this excess liquidty can take it..my guess would be 10650. (Fibo resistance but also a major long term channel top)
So if the markets dont correct from here that would be the key key level at which my caution meter would be sky high..
Keep this on your watch list and watch this space as best you can...
No trade here but this might decide the direction of global markets going ahead..
Ps: Had posted the same chart yest but by mistake referred to it is DJI... #apologies.