(News Bulletin 247) – If Thursday’s session had been beneficial with Tesla and Netflix as leaders, it was rather grimace soup on Friday with operators who really do not know on which foot to dance given the still large number of results to come. come.
Above all, exposures are traditionally not recommended on the eve of a FED meeting, an event which is always considerable and which most often generates high volatility. An increase of 0.75% would already be in the course but the policy of the board of governors can still evolve. Wouldn’t we need a stronger rise because even if it means causing a recession, wouldn’t it be wiser for the latter to be violent but short?
Barring a very pleasant surprise from businesses, the decline recorded on Friday should continue.
KEY GRAPHIC ELEMENTS
The technical board backdrop remains bright red.
The flagship index of technology stocks of the American dimension is still in a downward phase, tracing a chartist pattern with an oblique neck line, within a corridor with a bearish bias. The pattern remains heavily bearish within the channel. The next highly psychological threshold is at 10,000 points.
The short recovery since June 21 is ending in an upward acceleration, which should warn against the risks of a bull trap.
Neutral opinion for the time being, on the scale of the session to come.
FORECAST
In view of the key chart factors that we have identified, our opinion is neutral on the Nasdaq Composite index in the short term.
We will take care to note that a crossing of 12140.00 points would revive the tension in the purchase. While a break of 11460.00 points would relaunch the selling pressure.
CHART IN DAILY DATA
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