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NASDAQ - Expecting a deeper pullback
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Hi there, traders!
After yesterday’s drop, the U.S. stock market got a breather on Tuesday evening as Big Tech earnings began to roll out, led by better than expected reports for Google and Microsoft.
Looking at things from a technical perspective, we do anticipate the price to continue dropping today due to some key trends on the Daily and 4H timeframes. If we see a consolidation underneath the 4H trendline, it’s likely that the price will continue to drop.
Remember, today is an important day for earnings reports, with Boeing reporting before the opening bell, and Meta and eBay set to report after the market closes. These reports have the potential to move the market, so keep an eye out!
We’ll be keeping a close watch on everything and will update you in the section below if anything changes. And as always, trade with care and let us know if you have any questions or concerns!
After yesterday’s drop, the U.S. stock market got a breather on Tuesday evening as Big Tech earnings began to roll out, led by better than expected reports for Google and Microsoft.
Looking at things from a technical perspective, we do anticipate the price to continue dropping today due to some key trends on the Daily and 4H timeframes. If we see a consolidation underneath the 4H trendline, it’s likely that the price will continue to drop.
Remember, today is an important day for earnings reports, with Boeing reporting before the opening bell, and Meta and eBay set to report after the market closes. These reports have the potential to move the market, so keep an eye out!
We’ll be keeping a close watch on everything and will update you in the section below if anything changes. And as always, trade with care and let us know if you have any questions or concerns!
Nota
Daily breakdown:Nota
4H breakdown: Wait for the pullback to finish and then look for your sell setups and don't over risk. Nota
Correction happening as we speak, but I would wait for a bearish reaction around the trendline. If we break the trendline and consolidate above it, any sell setup will become invalid.
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