USNAS100 / Rethinking Recession Risks and AI

Nasdaq Technical Analysis and Market Outlook: Recession Risks and AI Concerns


The Nasdaq index experienced a significant decline, falling from its strong resistance level of 19,625, as we noted yesterday, and plummeting by approximately 5.20%.

Outlook:

For the Nasdaq to sustain its bearish trajectory, it needs to stabilize below the demand zone, which lies between 18,640 and 18,430.

  • Bullish Scenario:
    If a 4-hour candle closes above 18,640, the price could advance to 18,930 and 19,100.

  • Bearish Scenario:
    As long as the price remains below 18,640, it is likely to drop to 18,435. A break below 18,435 could see further declines to 18,150 and 17,880.

  • Key Levels:
    - Pivot Line: 18,640
    - Resistance Levels: 18,750, 18,935, 19,100
    - Support Levels: 18,435, 18,150, 17,880

  • Expected Range for Today:
    The price is anticipated to fluctuate between the support at 18,150 and the resistance at 18,750.

    Today's Non-Farm Payroll (NFP) and Unemployment Rate reports are expected to significantly impact the market.

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    Market Overview: Rethinking Recession Risks and AI

    Global markets are jittery, reassessing recession risks and reacting to the performance of Big Tech. As August unfolds, concerns over a 'hard landing' for the global economy resurface, especially as central banks relax policies and bond yields decline.

    The trading landscape has been turbulent across financial markets. Despite the much-discussed rotation within stock sectors, the most notable shift is from stocks to bonds as the fear of recession re-emerges.

    previous idea:
    Nasdaq Futures Rise on Fed Cut Hopes; Amazon and Apple Earnings
nasdaqSupply and DemandSupport and ResistanceTrend Analysisusnas100

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