USTEC sell

Nasdaq: attempt to grow didn’t count

06 may 2022 59
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segments "Currencies" and "Agricultural commodities"
2nd in the segments "Indices" and "US stocks"
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After the Fed meeting the stock market tried to organize a bounce. And it seemed to succeed: S&P 500 increased by 2.99%, while Nasdaq skyrocketed by 3.19%.


But that didn’t last for too long - the next day the “bears” took the initiative, dropping Nasdaq by 5% at once. The “bearish engulfing” pattern only makes the matters worse, implying the further decline. The next support for Nasdaq might be found on the level of 12200

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segments "Currencies" and "Agricultural commodities"
2nd in the segments "Indices" and "US stocks"
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