S&P 500 and NASDAQ 100 Forecast September 4, 2020

by birtanpublished on September 23, 2020

from daily forax this is chris taking a look at the indices in the united states and wow what a day um needless to say unless you've been in the cave you know that we got absolutely

Hammered uh now at this point i think the s p 500 does have a chance to be a leader now let me state this unequivocally for the friday session you should not be trading the friday session

Under any circumstances and the reason is because not only do we have a candlestick like this and you know the s p 500 down four percent in a day typically isn't a one-off event now

We had that in in was yesterday's video the the video before i mentioned that we were due for something like that and we did fall a bit further before rallying

And that's your best case scenario right so with the jobs number coming out that means we could get even more nastiness what i want to see is some type of hammer or

A daily candlestick that screams confidence you can't jump in on an hourly hammer it's a great way to lose money after this trying to catch a falling knife 3400 does make sense

Don't get me wrong i see that but we need to get through the day and i will be basing my trade on a daily candlestick nasdaq 100 looks even worse it looks like it could really fall apart

Um 11 000 is an area where i might pick up a little bit but again i need to see a daily close that screams by me probably going to get it in the s p 500 first and that might instill confidence like

In the dow jones and then eventually in the nasdaq 100 but this is an absolute beating there are a lot of traders that probably blew up today quite frankly these candlesticks almost always mean that and

If you look at this we haven't seen this since like march so there should be more to go i wouldn't be a seller because eventually the buyers will come in especially during the jobs number who

Knows how that plays out so again this has to be based off a daily candlestick i suspect my next trade in one of the indices probably monday or tuesday they are designed to go higher over the longer term that's

Why if you look at a longer term chart it always looks like this given enough time so i'm going to take advantage of that but i'm going to take advantage of that when it's on sale you

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