Note: The forecast below can change. Live updates only in the trading room.
DOW, NASDAQ... SELLOFF, Now What?
Nasdaq Futures currently at 6505.00 which is a fine attempt to rebound. However it seams like a strong rebound is not going to happen as for now.
A range can happen for some time (see chart below)
Range top (around) : 6725
Range bottom (around) : 6275
This range might extend until mid-March (or before).
A rebound can happen as the range progress.
A deep crash with a continuous selloff is not in the view of anybody. A catastrophic scenario is very unlikely.
The BUY opportunities and positions are going to start to show sometime soon.
(Risky) Start buying now at 6505.00 and hold until it breaks out, it can take days/weeks. OR Wait next days or week in order to see how it is consolidating as it tries to rebound. (Waiting few more days is good idea...)
Can DOW, NASDAQ... drop much much more?
They can drop a little more (in the case that happens). But not a deep crash on view. They will all rebound later.
(Updates and signals real time in the Trading room)
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