Nasdaq 100 - 240 - Another higher high, or...?
Updated
Quick idea.
Yesterday, the index hit a new all-time high... Again... Given that the overall trend is still to the upside and the fact that on the shorter time frames the index is a bit overstretched to the upside, we believe we may see a bit of correction to the downside first. For now, we will carefully monitor the price action and if we start seeing drops below the low of yesterday, this is when we will start considering possible declines.
Please see the chart for details.
Don't forget your stop-loss.
Yesterday, the index hit a new all-time high... Again... Given that the overall trend is still to the upside and the fact that on the shorter time frames the index is a bit overstretched to the upside, we believe we may see a bit of correction to the downside first. For now, we will carefully monitor the price action and if we start seeing drops below the low of yesterday, this is when we will start considering possible declines.
Please see the chart for details.
Don't forget your stop-loss.
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