NASDAQ 100 (US100) – Week 18 – Worst day since March.

The Nasdaq fell more than 2% on Tuesday after Treasury Secretary Janet Yellen said Tuesday morning that interest rates in the U.S. might need to rise in order to prevent an economic overheating during the pandemic recovery. Rising rates would affect the valuations of growth companies, and many investors have been worried that an easing of monetary policy could freeze the stock market's recent run-up to record highs.
Highly valued technology companies such as Microsoft Corp (MSFT), Alphabet Inc (GOOGL), Tesla (TSLA), Apple Inc (AAPL), Amazon.com Inc (AMZN), and Facebook Inc (FB) dropped between 2.3% and 4.2%.
In our previous analysis, we correctly forecasted the bearish move that took place.

In the coming days, we are expecting two scenarios to unfold:

1. Blue arrow scenario: Expecting the price to slowly keep rising, make a small correction and regain bullish momentum towards a new record high.
2. Orange arrow scenario: The price will consolidate towards the resistance area, before making another attempt to break the previous low and hit our support level target.
Keep an eye on Friday’s US NFP & Unemployment rate data numbers as they could play a crucial role in regards to our next move.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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