Sunday, August 4, 2024

NQ Guideline For Monday

Japanese Yen "Carry Trade" has blew up, and the market, Stocks, Bitcoin, has crashed in overnight trading.
NQ has dropped down over 1,000 points so far. and bitcoin has sold off  price down over 12k dollars.

No one knows what will happen as the market opens o Monday. NQ has broken below its 200-dma on the daily chart 17,800 and down to 50-MA on the weekly chart, 17,500.

We know there is a very strong technical support at 16,000, prior high  from Juyly 20213. If we get a big crash on Monday that would be a good level for potential bounce,