NASDAQ strikes down into swing space goal

The NASDAQ index moved to a low of 19143.64. That was down over 300 factors on the day and within the course of has moved inside a swing space outlined by latest swing lows of swing highs between 19119 and 19208 . A transfer beneath that space would open the door for additional promoting technically (see renumbered circles on the chart above).

The College of Michigan sentiment index got here in slightly weaker than anticipated however the one-year inflation expectations rose to three.three% from 2.9% final month. The five-year inflation additionally ticked increased to three.three% from three.1%.

That scared has the NASDAQ Dow down -378 factors or -1.99% at 19091. That’s breaking beneath the low of the aforementioned swing space.

10 yr yield is increased however let at its highest stage. It at the moment is buying and selling at four.763% up eight.2 foundation factors. The 2 yr yield is up 9 foundation factors at four.351%

This text was written by Emma Wang at www.ubaidahsan.com.



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