Nasdaq index rolls over again- see how your trading will be affected here: Forex stocks
Looking at the start, it’s obvious that the 12,250 level is important, right along with thesitting underneath near the 12,000 level. All things being equal, the market is more likely than not going to be paying close attention to Jerome Powell and of course GDP numbers this week. With that being the case, I think we only have a matter of time before we have to make a bigger decision. If we break down through the 50-day EMA, then it’s likely that we could go down to the 11,500 level.
On the other hand, if we were to turn around and break above the 12,660 level, then we could make a move towards a 13,000 level. However, the 13,000 level seems to be very difficult to break above, and it’s really not until we break above the 13,500 level that I might be convinced that the trend has changed.
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