NASDAQ (NDQ): Is At Reactionary Zone
Diupdate
This week is going to be a far more important week than I think most anticipate.
Some are assuming markets resume bullish after having previous strong bearish momentum.
Things are much more complicated. The number of fundamental factors bouncing around currently is not just a narrative, they are the driving forces in the market.
Currently, NDQ is risking falling further back into the channel it bullishly broke out of during the 2020 Boom.
This is not just any channel, this was formed in 2009 and has been respected ever since.
Another thing to take note of is the bullish divergence on the 3 Day RSI, which if it is lost will invalidate any bullish technicals.
In simple bull runs with no war and easy monetary policy, narratives are an illusion. It is just the emotions of investors talking.
But this time is not that. There are driving factors such as FED policy, Ukraine war, Sanctions/Embargoes, Roaring Inflation, High Energy, Extended housing Market, etc.
These have all come into the light at relatively the same time over the 6 months to a year.
Today is NOT like yesterday.
Usually, there are clear inflation hedges, bonds are the safe haven as well as precious metals, and this is right about the time the FED starts implementing Easy Monetary Policy...
There is only one issue.... the FED hasn't even started yet!
Be cautious, adapt, and don't resist the overwhelming tide that is about to flow in.
Whether that is up or down.
Some are assuming markets resume bullish after having previous strong bearish momentum.
Things are much more complicated. The number of fundamental factors bouncing around currently is not just a narrative, they are the driving forces in the market.
Currently, NDQ is risking falling further back into the channel it bullishly broke out of during the 2020 Boom.
This is not just any channel, this was formed in 2009 and has been respected ever since.
Another thing to take note of is the bullish divergence on the 3 Day RSI, which if it is lost will invalidate any bullish technicals.
In simple bull runs with no war and easy monetary policy, narratives are an illusion. It is just the emotions of investors talking.
But this time is not that. There are driving factors such as FED policy, Ukraine war, Sanctions/Embargoes, Roaring Inflation, High Energy, Extended housing Market, etc.
These have all come into the light at relatively the same time over the 6 months to a year.
Today is NOT like yesterday.
Usually, there are clear inflation hedges, bonds are the safe haven as well as precious metals, and this is right about the time the FED starts implementing Easy Monetary Policy...
There is only one issue.... the FED hasn't even started yet!
Be cautious, adapt, and don't resist the overwhelming tide that is about to flow in.
Whether that is up or down.
Catatan
The chart looks dreadful... The local bottom is in or it's crash time. NO in-betweens in my opinion!!
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