Will Nasdaq exceed highs again?Nasdaq 100 Index // Ticker: NDX // Logarithmic scale // 4 Hours time frame.
Since the nasdaq peaked in early September, it has not been as strong as before.
In the previous analysis we recommend not taking long positions because it was in a phase of euphoria and at any time it could correct as it has happened.
At this moment the scenario for the 4-hour temporality is lateral. Bearing in mind that the index is trading below the SMA30, be careful if the bears decide to push the index lower. Let's not forget that the long-term trend is still quite bullish but that in lower time frames we can have downward or range trends.
Our recommendation: The elections to elect the president in the United States are very close and volatility is going to increase, therefore the operator must take this relevant fact into account. For the moment we will continue to open long positions operating in day trading since we do not feel comfortable with long positions in the medium or long term with the astual technical scenario.
