Nasdaq What Now Episode 10

Who’s In The Nasdaq And What Are They Doing?

The news update for last week showed intense results on  the Nasdaq100. Tuesday, March 29th, 2022. CB (conference board) consumer’s confidence came up with a 107.2 reading, the JOLTs Job Openings came up positive as well—with a 11.266 million. This made the Nasdaq100 move up towards the 15,000 previous bears zone after that happened. Thereafter, on Wednesday, 30th of March, 2022.. The Bulls kept creeping in after the ADP Non-farm employment change came up positive with a 455k reading, However, the GDP (gross domestic product) reading turned out negative with a 6.9% reading leaving the Nasdaq100 to struggle although the bulls magically got their strength and took us up to 15,200.

Resistance—came in early when the Thursday’s [31st of March, 2022] Initial Jobless claims news reading came up. It turned out negative with a 202k reading. Bringing the angry bears out from the woods. The Nasdaq100 turned the 15,200 level into a resistance and broke past previous support at 14,900 and turning it into resistance. Finally, NFP wasn’t flawless either as it came up negative with a 431k reading on Friday, 1st of April, 2022. So much for the April fools huh? With the NFP negative, we got a positive reading for the Unemployment rate (3.6%).. Whilst the ISM Manufacturing PMI readings turned out negative with a 57.1 reading. Furthermore, the Nasdaq100 closed mixed with the bears looking for more sellers to grant them the favor of  drooling the Nasdaq100 down to next support level (14680).

In all this, what’s my plan?

Well, I’ll be looking to short the Nasdaq100 if the 15,000 remains a resistance. Shorting it to next support level at 14,680. However, if that 15,000 turns support, I’ll be looking to buy the return of the bulls—at least back to 15,200. What do you think? The VXN on the other hand is looking really bearish—After it created that resistance at 27 points. Hold up! what does this mean for the Nasdaq100 though? Anyway, I’ll be working with my plans and looking anticipating them high-impact gist.. Speaking of gist, let’s see what they have for us.

Nasdaq100 High Impact News For 4th-8th Of April, 2022

Nasdaq100 this week has a lot in the box for us. On  Tuesday April 5th, 2022—By 15:00, We have the ISM Non-manufacturing for March.. The previous was negative with a 57.1 reading. What’s the ISM all about? The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) (also known as the ISM Services PMI) report on Business, a composite index is calculated as an indicator of the overall economic condition for the non-manufacturing sector. The NMI is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries. A reading above 50% indicates the non-manufacturing sector economy is generally expanding; below 50% indicates the non-manufacturing sector is generally contracting. The Non-Manufacturing ISM Report on Business is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries representing nine divisions from the Standard Industrial Classification (SIC) categories. Membership of the Business Survey Committee is diversified by SIC category and is based on each industry contribution to Gross Domestic Product (GDP). A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

15:30 Wednesday April 6th, 2022. The Crude Oil Inventories will take place. What’s this all about? The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation. If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected. If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

Hey traders, I just got an alert that we’ve got the FOMC news. April 6th, 2022 by 19:00 the meeting will take place. Points to note: The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee’s policy-setting meeting held about two weeks earlier. The minutes offer detailed insights regarding the FOMC’s stance on monetary policy, so currency traders carefully examine them for clues regarding the outcome of future interest rate decisions.

Finally, By 13:30, Thursday the 7th of April, 2022—We’ve got the Initial Jobless Claims. The previous turned out negative 202k readings. What to know: Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.


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