NAS100 DAILY CHART – 20k OR BUST?
NAS100 finding support by holding above its 200 day mva (yellow) and moving back above its 100 day mva (blue).
On the upside, key resistance is close enough to 20,000 to use this as the level that would need to be taken out to suggest the record high is in play again.
Technically the strongest way to approach days like this is with option contracts but you really need to know what you are doing and not even think for a second some guru on youtube or tiktok thinks they know what they are doing. That includes the various “signal service” sites on the net. I have met some of them in my travels and they are cast offs, some who worked in a bank for a while, who could not even sniff what it really means to know what you are doing or match the professionals I have dealt with. Use your heads people.
Frankly I don’t care what the FED does because I am not running a billion dollar portfolio at present. I just want them to sneeze and provide actionable participation opportunity without getting scorched. Therefore, I have multiple orders, very light on leverage, at various points way outside of current market. If none are reached then I pounce on the momentum. That is how I approached days like this as a CTA.
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