Sunday Prep 6/27 - Nasdaq looks good as ever
From Sunday Prep Jun 27, 2021 prepared by TrueTrader pro @RickyAnalog
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Nasdaq looks good as ever and we’ve been seeing some tech stocks really start to behave well.
I do think we’re a bit extended from the 20d, so the best case scenario for people that are on the sidelines and looking to get long is to wait for a retrace to some support.
You might be tempted to chase things long if the market pushes higher, but remaining disciplined for good, high-quality entries should trump everything else.
Remember, some people want to make a career out of this. In order to have longevity, you must focus on the bigger picture and ALWAYS be disciplined. If you’re just here to gamble, well then I guess….
...YOLO?
Near-term support is the monthly pivot at 14117.75, the 20d at 13966.5, and the 50d at 13758.25. First area of interest to see if we get resistance is the monthly pivot at 14548.75.
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Nasdaq looks good as ever and we’ve been seeing some tech stocks really start to behave well.
I do think we’re a bit extended from the 20d, so the best case scenario for people that are on the sidelines and looking to get long is to wait for a retrace to some support.
You might be tempted to chase things long if the market pushes higher, but remaining disciplined for good, high-quality entries should trump everything else.
Remember, some people want to make a career out of this. In order to have longevity, you must focus on the bigger picture and ALWAYS be disciplined. If you’re just here to gamble, well then I guess….
...YOLO?
Near-term support is the monthly pivot at 14117.75, the 20d at 13966.5, and the 50d at 13758.25. First area of interest to see if we get resistance is the monthly pivot at 14548.75.
