Weekly chart:
As I mentioned last week, the Nasdaq 100 was far into the movement, making an entry no longer advisable. In the mean time, the index has now gone back into the last correction zone and is stabilizing itself at the last point two at 4555 points. The chance for a new entry is currently available.
Daily chart:
In the daily chart, the image becomes clearer. The last correction led the market back to the 20 LP, and now seems to be transitioning into a new movement. An entry is now possible. The stop should be located beneath the white correction zone.
Hourly chart:
A nice new uptrend has already been established here. Possible setbacks can be used for an entry at any time. In this trend size, the necessary stop is at approx. 4490 points.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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