The NASDAQ broke lower during the course of the day on Wednesday, testing the 4900 level. This is an area that has a significant amount of support just
The NASDAQ broke lower during the course of the day on Wednesday, testing the 4900 level. This is an area that has a significant amount of support just below it, and with nonfarm payroll numbers coming out tomorrow we feel that this market might become of quiet today. However, US stock markets in general look a bit soft on Wednesday, and it does look like the sellers are starting to take control. The “final nail in the coffin” won’t be until the employment numbers come out, but things are starting to look kind of ominous at the moment. We are on the sidelines and will remain so.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
