Who’s In The Nasdaq And What Are They Doing?
Nasdaq bulls are succeeding! I mean, most of the anticipated resistance in last week’s chat.. Have all broken and turned into support. On the 240, you can see the clear uptrend (higher-highs and lows)—However, there’s a wedge and bearish divergence. Furthermore, the Nasdaq 100 has been respecting said, “wedge” through-out last week. A possible 15,000 coming through. But, the usual “buts”.. This particular “but” is that of: a higher-low daily creation.
Remember I talked about the fact that we’ve got the bulls in the market—hence we need higher-lows to confirm their validity. Well, this might just be it.
A possible outcome: The market opens on Monday bulls are still hovering.. We get a move to 15,000. Yeah! everyone’s happy. Then—comes the bears. The big retest, the big pull, I mean: the daily still needs it’s higher-low—right? This pull determines the bulls strength. My support zones are: 14300/200. Support holds, everyone goes long, support break—panic starts. If the bulls win, The next resistance zone: 15400 creates a new higher-high and.. We’re bullish baby!
Similarly, if bulls fail, Then I will.. We should start another panic sell because—what’s their exact purpose? Haha, let’s see how it turns out. Next up, Major news, use that to know what the market’s decision will be. Don’t take trades during a major news so be notified.
Nasdaq100 High Impact News
Lot to comes this week. The end of March and beginning of a new dawn (April). Let’s see.. Monday is the only day that’s free of a major news. Oh! my, News packed week I see.
Tuesday, March 29th, 2022–By 15:00. We’ve got; Cb consumer confidence—“Cb” stands for: conference board. This major news measures the sentiment of surveyed consumers on economic conditions. The market reacts to this because—Consumer optimism is directly related to consumer’s spending, hence—it makes up for a large part of the country’s economic activities.
Wednesday, March 30th, 2022. At 13:15, We have the ADP national employment report. The Automatic data processing National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.
P.s: ADP provides payroll services to US corporations, and they analyze data from around 400,000 customers to derive employment growth estimations.
Why should you care about the ADP? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. What to expect: A higher reading should be positive/bullish for the USD, while a lower reading should be negative/bearish for the USD. Hence, watch out for that reading—might just save you this week!
More On H.I.N For Nasdaq
Thursday, March 31st, 2022. Another news is—Personal income also known as, Disposable income. This measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity. For this news, like the ADP, 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. Traders should take this seriously because.. Income is correlated with spending, the more disposable income consumers have, the more likely they are to increase spending.
Finally, Friday The fools day—April 1st. DON’T BE A FOOL THOUGH. This is the day of the most anticipated for Nasdaq ..NFP (non-farm payroll). However, before the NFP, we have like three major news to watch out for. The first, Average hourly earnings. The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates.. A high reading is also positive for the USD, while a low reading is negative.
Secondly, unemployment rate. The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. However, unlike other major news, 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.
More On Jobless Rate (Unemployment Rate)
A tip for traders, Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy.
Lastly, Non-farm Payrolls. This popular news; Reports the monthly change in the number of employed workers, albeit not including the farming and government sectors. In the markets, High volatility is usually seen before and after the report release. The number of unemployed workers is an important signal of overall economic activity since consumer spending is greatly correlated with labor-market conditions.
Furthermore, The major importance of knowing about the NFP is: Job creation. The foremost indicator of consumer spending, which accounts for the majority of economic activity. 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.
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