Dankdelta ? there is reasons 1- high inflation means higher interest rates that means the companies values decreases and more money out from stock market,
2- China lockdown make shortage in materials and product that means more inflation extra decrease in companies value
3- the Ukrainian war volatility .
We try the best to catch the bounce by technical analysis
Other problem we need the S&P and nasdaq to be at support level until now they’re not so we can have very strong confirmation that the bounce could exist
S&P need to hit 3863 strongest support
NASDAQ need to be above 11528 or at
10423 strongest support
Dow is in strong support now at 31819 it can bounce if there is a little green candle confirmation , or it can be broke the next level is 30700 and it’s the strongest level + BX right now in the strongest level of support at 96.58 but we need confirmation green candle to bounce until 108 or 117 in best scenario
I’m swing trader not investor
I’m out the index S&P and Dow doesn’t look good the failed
The problem is with S&P and Dow they are fighting in resistance level that might ruined the trade
Strong support at 96.50 target 108 or 107 if it close below 96.50 at end of the day sell
Or sell if it close end of the day below 9.89
But you can take the risk target at 11.37
We are in strong support at 9.89 but the problem in the index s&p and Dow is fighting on resistance level