A timely update to the technical chart for Nasdaq with risk entering back into play as we approach Fed minutes and Jackson Hole. We are not going to cover the fundamentals here today, for those wanting to dig deeper there I would recommend the Telegram archives.
On the technical side the map is crystal clear as we approach the end off summer;
Steel resistance 7852 <=> Soft resistance 7778 <=> Mid point 7356 <=> Soft support 6937 <=> 5895
For the flows anything other than a very dovish Powell will be bad for US Equities and complete the ABC sequence.
Best of luck all those in NQ ...
On the technical side the map is crystal clear as we approach the end off summer;
Steel resistance 7852 <=> Soft resistance 7778 <=> Mid point 7356 <=> Soft support 6937 <=> 5895
For the flows anything other than a very dovish Powell will be bad for US Equities and complete the ABC sequence.
Best of luck all those in NQ ...
