Nasdaq (+7.35%) had a solid up day with significant volumes, a wide green bar and a strong close above the EMA21/SMA50. Definitely, the good news regarding the CPI Inflation number (7.7% vs. 8.2% expected) influenced heavily the index price action. This might be a valid Follow Through day, but always consider it can be a short squeeze. Watching the marked levels (including yesterday’s gap for a possible fill).
Trading Plan: 11 November 2022
Trading Plan: 11 November 2022
Trading Plan: 11 November 2022
Nasdaq (+7.35%) had a solid up day with significant volumes, a wide green bar and a strong close above the EMA21/SMA50. Definitely, the good news regarding the CPI Inflation number (7.7% vs. 8.2% expected) influenced heavily the index price action. This might be a valid Follow Through day, but always consider it can be a short squeeze. Watching the marked levels (including yesterday’s gap for a possible fill).