If joined my Webinar yesterday https://www.home.saxo/insights/events-and-webinars you heard me talking about the US stock markets and how they looked set for a correction.
The reason behind my view on a likely correction was the two Doji like candles Friday and Monday on Nasdaq 100 followed by a negative session Tuesday testing the steep short term rising trend line.
Yesterday the Index opened below the trend line and we could very well see lowever levels in the coming 1-2 weeks. Crucial support short term is at around 15.638. A close below is likely to give more selling pressure down to around 15K.
However, the trend is up and as a long Nasdaq 100 closes above 15.638 the bullish picture is intact.