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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11918.07 with take profit at 11989.78.
Bearish Preference:
Sell position is envisaged if price trades below 11761.15 with take profit at 11715.30.
Fundamentals:
2:30pm USD: Empire State Manufacturing Index
2:30PM PPI m/m
Comment:
ETF traders just placed a record wager against the big comeback in tech stocks. As the Nasdaq 100 Index soared late last week, some $658 million was funnelled into the ProShares UltraPro Short QQQ exchange-traded fund (ticker SQQQ). That’s the largest-ever inflow for a product that aims to deliver three times the opposite performance of the US benchmark for major technology companies.
Analysis: SCRUM Team
