Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

NASDAQ Futures: Will Current Rally Continue, While Double-Top Completed?

Published 06/09/2020, 01:59 PM
Updated 07/09/2023, 06:31 AM

Nasdaq 100 futures tested the 11-week high on June 8th, 2020 and completed the formation of double-top. A rally above this recent high has enhanced the risk many-fold for the investors, especially at the time when the Business Cycle Dating Committee of the National Bureau of Economic Research said the U.S. economy ended its longest expansion in the history in February 2020 and entered recession as a result of the coronavirus pandemic. I find this looks risky, while the sentiments look bullish.

Nasdaq 100 Futures Daily Chart

Nasdaq 100 Futures 4 Hr. Chart

Nasdaq 100 Futures 1 Hr. Chart


Disclaimer

This content is for information and educational purposes only and should not be considered as investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.

Latest comments

NASDAQ futures are down, breaking a pattern of positive NASDAQ vs negative SP500 and Russell 2000. VIX is up net after three days.
The Fed is buying for the next 28 days with massive repo overlap in the trillions
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.