🔥Nasdaq Breaks the Lows📉

Feb 24, 2022

The Nasdaq needed to hold the $334 level which was the January 24th low. We sliced through that on earnings misses, interest rate fears, sanctions and Russian/Ukraine tensions. As far as earnings Tuesday night $MNDY missed earnings and gave lower guidance. This sent software names down with the software sector now sitting at a level not seen since May 2020. To put it in perspective $ASAN was down over 24% on the news. Interest rates fears are accelerating even though the 10 year treasury is back under 2%. Investors are buying safety. This does raise questions about the hikes. How can they hike rates to lower inflation if the economy is dragging? Essentially they can not be overly aggressive or the GDP can contract into a recession. Also stifling the Fed’s ability to raise rates are the new sanction levied on Russia which will drive oil prices up. JP Morgan stated the average oil price in the 2nd quarter of the year will be $110. It is currently at $93. The Russia/Ukraine crisis tensions are getting more complex. The complexity is adding more uncertainty. This means risk off for traders. Risk off implies flight to cash or less risky investments. With the Nasdaq breaking $334 we can go much lower. The goal would be to see some kind of capitulation but so far we are not seeing it in the internals.The $VIX has historically been at 40 or over when corrections bottom. We are at 31. Focus on the index charts below and the levels marked. If we break those supports you can see the next support levels. For an idea of how bad this can get and 5 ideas for tomorrow, watch the video attached. It’s 5 minutes long but packed with information about what to look for tomorrow. Let’s get to it!

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Subscribe to You Tube! 👈Subscribe and turn on notifications. There is a new daily video after the market Monday through Thursday! It’s called the Top 5 in 5. It consists of the best five ideas for the next day and I condense it into 5 minutes. It’s loaded with actionable ideas. It’s worth your time. It is hyper specific and actionable. Tonight’s includes 5 Shorts with entries and stops marked. When you subscribe turn on ALL notifications so you are notified of the daily Premarket live shows ,Top 10 Weekly Buy List and educational videos. Also, Once subscribed you will receive private content on YouTube make sure all notifications are turned on so you receive it. The video below is the Top 5 from tonight and focused on actionable ideas based upon the indexes and earnings tonight. Pay close attention to what is said about $TSLA.

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