August 9, 2023 U.S. Session #GOINVESTER #NASDAQ
Synopsis: Analyzing the daily chart data for Nasdaq 100 and Dow Jones, we observe a bullish trend in both markets. Despite this, critical resistance levels have played a significant role. In this update, we provide detailed observations and entry/exit points for potential trades on August 9, 2023, during the U.S. session.
Introduction: The Nasdaq 100 and Dow Jones have exhibited bullish trends, but the impact of crucial resistance levels is notable. This update offers insights based on chart data to assist traders in understanding entry and exit points.
Nasdaq 100 Analysis:
Strong resistance encountered at 15,360 levels, confirming its significance.
Resistance continues near 15,420 levels, signaling a potential bullish move above.
Support forming around 15,300 levels, an opportunity to consider buying.
Recommended to sell at 15,270 levels, with support at 15,250.
Caution advised below 15,200, with Stochastic and MACD indicators signaling potential bearishness.
Buying entry viable only above 15,360, reflecting a clear bullish threshold.
Stochastic shows downward movement, MACD retains some bullishness, while RSI appears slightly bearish.
On the three-hour chart, lower highs observed, bearish sentiment indicated.
Support at 15,200 and below; careful consideration needed.
Stochastic down, MACD hinting bearishness, RSI exhibiting flattening.
Longer timeframe (daily chart) reveals red candle, suggesting further bearishness.
Below 15,270 and 15,250, anticipate increased bearish activity.
Possibility of a larger red candle formation towards 15,100 levels.
Tech hundred seems bearish, consider trading cautiously.
Dow Jones Analysis:
Dow Jones experiences resistance at 35,400 levels, marked by lower highs.
Support identified near 35,300 - 35,280, providing potential entry points.
Safer sell entry below 35,300, with 35,270 - 35,280 as a secured zone.
Short-term indicators such as Stochastic, MACD, and RSI support bearish sentiment.
Two-hour chart displays oscillation, key direction contingent on 35,300 breach.
Daily chart hints at possible reversal with lower highs and red candles.
Support at 35,180 - 35,150 levels; sustained trading below 35,270 critical.
Expectation of 35,100 levels if support is broken.
Trading approach: Sell near 35,300, cautious around 35,270 - 35,250, support at 35,100.
Resistance at 35,500 levels; careful consideration required.
Dow Jones appears poised for a significant drop, as indicated by indicators.
Bearish sentiment dominates the analysis; traders should exercise prudence.
Conclusion: Incorporating insights from Nasdaq 100 and Dow Jones analyses, traders should focus on the entry and exit points indicated. Both markets are experiencing resistance at critical levels, and the potential for bearish movements exists. Stay cautious, adhere to stop losses, and consider trailing stop loss strategies. As always, thorough analysis and prudent decision-making are paramount for successful trading.
Disclaimer: The information provided in this analysis is for educational and informational purposes only. Trading in financial markets involves risk, and decisions should be made with careful consideration of personal risk tolerance. The author and platform assume no responsibility for any trading or investment decisions made based on this analysis.
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