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Nasdaq100 Daily & Weekly

by Ashraf Laidi
Jul 17, 2024 17:53

The triple top in weekly RSI suggests the following price and time implications: 

PRICE: 18700. TIME: Duration of downside may last for another 3 to 4 weeks. This means downside in technology may last into late August, when Nvidia releases its next earnings (August 28), 2 days before the much anticipated annual Federal Reserve Symposium in Jackson Hole, where Powell will give an important update on monetary policy, much needed as it comes 3 weeks after the July FOMC and 3 weeks before the September FOMC.  Ive already mentioned the 2 fundamental reasons to the Nasdaq selloff to the WhatsApp Bdcast Group. I will explain the meanings of the labeled prices to the Group after this post.      

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Nasdaq100 Daily & Weekly - Nasdaq100 Ju; 17 2024 (Chart 1)

 

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