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11.12.2019 07:26 AM
NASDAQ before the Fed

Good morning all,

The Nasdaq is trading now at 8359, a rough 1% away from ATH, we can anticipate kind of a traingle being formed during last 8 sessions.

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There's a curiosity, MM8 is crossing to the downside MM21 (bearish signal) but the price is above them all: I was not able to find another similar situation in past 2 years after a mid term rally.

The results of the Fed's meeting may spark volatility later in the day, watch out the price range 8320 / 8385. Be careful with false breaks and next targets would be 8270 to the downside, 8410 to the upside.

Stay safe

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