Who’s In The Nasdaq And What Are They Doing?
The volatility index for Nasdaq100 is Bullish. Today, 30th of March, 2022—I learnt about co-relations. The Nasdaq100’s Volatility index can be an added confluence because it measures the uncertainty of the Nasdaq100. When there’s uncertainty, it’s bullish—the Nasdaq100 is bearish, and if there isn’t any uncertainty, but, rather: hope or optimism, The VXN (Volatility index of Nasdaq) will be bearish whilst Nasdaq: Bullish. A lesson to keep in the box. Also, the high-impact news releases. The news release for yesterday proved itself to he right. What does this mean? On my yesterday’s, “Nasdaq what now” stream, I remember castigating the fundamentals for being a scam—I was wrong. These readings, however, shouldn’t be traded alone but, They should not be ignored either; as they serve for a great addition to one’s confluences.
The CB (conference board) consumer’s confidence came out with a positive reading. The actual being 107.2, forecast: 107, and previous: 105.7.. In last week’s episode, I said, “..a higher reading points to a higher consumer optimism and is positive for the USD..” Well, according to yesterday’s charts, The bulls finally gave us a Higher-high, reaching the 15261.. past previous Lower-high. The second news came out posting as well, which is—JOLTs job openings. The actual: 11.266 million, forecast: 11 million, and previous: 11.283 million. Unlike, CB readings, A reading stronger than forecast is generally supportive for the USD and that’s exactly what we got. What this means in essence is, The high-impact fundamental news, The VXN as well as the 3-way (Divergence, Patterns, and Structure) can make up your confluence for trading Nasdaq100—all one needs is a good entry trigger.. Then, you should be on the right side of the market at least 70% of the time. As for trigger, I use simple Break and retest of previous S&R levels. That’s a chat for another day, however, Let’s talk about today’s news.
Nasdaq100 High Impact News For Wednesday, 30th March, 2022.
The Nasdaq100 reached a new Higher-high as mentioned earlier in this article. The 240 has been showing these signs (bearish divergence) since last week. Now, I can’t tell if it’s a deep pull or just another retest.
Anyway, in today’s news, By 13:15, We have—ADP non-farm employment change (March). The forecast is: 378k, and previous: 509k.. The change in this news indicator can be pretty volatile. That is, a higher than expected reading should be taken as positive for the USD, while a lower than expected reading should be seen as negative for the USD. In other news, By 13:30, The United States gross domestic product (GDP) QoQ (Q4) is to be held. Readings: Forecast—7%, Previous—2.3%. This measure the annualized change in the inflation adjusted value of all goods and services produced by economy. The GDP readings are a primary indicator of an economy’s health. In this case, The United States. Furthermore, for the GDP, If the actual reading is greater than forecast, It’s good for the USD, however, if not greater than that will be negative for the USD. There are 3 versions of the GDP released a month apart (advance, second release, and final).. The GDP ended up having a negative outcome with a 6.9% reading which is less than the forecasted reading and negative for the USD. Whereas, the ADP non-farm employment change—came up positive with a 455k reading which is greater than expected. The Nasdaq100 created a resistance at nee highs (15261) whilst the VXN created a support. If the VXN breaks support and the Nasdaq100 shows bullish tendencies then, I guess the bulls might take is a little further. Maybe? 15300-400. If not, then we might reach a previous support. The last was at, 15000-14900. I guess, “Now we wait”..
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