the market is slope of inflation data United States for the month of September, which will be known this Thursday. Experts fear the Federal Reserve may go too far with rate hikes and damage the economy, triggering a longer-lasting recession.
On a technical level, what do the US indices tell us?
If we look at the NASDAQ 100, we can see the decline suffered in a downward channel and right now it’s right in the middle of the channel, explains Javier Romero, an independent technical analyst. When the market is like this, it is a bad time to enter, both short and long term, because there is a stop loss margin on the opposite side. Digging deeper into the behavior of the Nasdaq, on a daily chart, we see that no rebound is occurring.
Last week, the analyst explained that there were options that, if it has exceeded 11,500 points, it could go towards 11,700 and, subsequently, towards 12,000 points. The market managed to exceed 11,500 points, but did so weakly; it lost ground again and we saw the sharp drops that occurred on Friday.
Even in the medium-term channel, right now the index price is right in the middleso for technical analysis “it’s a time when you can’t do anything” because the market can go both up and down.
Also, the focus is on in business results. Heavyweights such as big US banks are expected this week, which will be held accountable on Friday. AMD has not yet provided its data, but has already said it expects a reduction in profit, with which it lost 15% on Friday, this indicates that “the market is very sensitive”, so any negative news is welcome. with significant drops.
Values to have in your portfolio
“When the market is bearish, all values go down,” explains Romero. In the case of Apple, we already saw a significant drop two weeks ago and it is now close to mid-summer lows and may continue to fall.
In Tesla’s case, we had already scored a double top and it hit that target. But in the very long term, from a technical point of view, he has a head-and-shoulder figure. If he meets training, he has a lot of steps ahead. The next buy zone would be around $ 180. “For now, even though I like Tesla, beware.”
And Microsoft is another possible option to keep an eye on. He would also have described a head-to-shoulder shoulder training. The downside target is still a long way off, so the value can continue to cut back to $ 200.
