Pretiming

The Nasdaq index entered the Bearish zone four days ago, indicating a prevailing downtrend. While there have been attempts at a rebound in the past two days, the trend appears to be temporary. Even if a reversal to an uptrend occurs, it is likely to be short-lived, with a high possibility of another downturn. Overall buying strength is weak, and any apparent strength, such as today's, is likely to be temporary. In the current Bearish zone, where selling pressure is strong, there is a high likelihood of a continued overall downtrend. The anticipated resumption of the downtrend is expected to persist until the middle of next week, followed by another potential uptrend. However, during the next uptrend, selling pressure is expected to weaken significantly. Therefore, the rebound in the index could be more prolonged and substantial after next week. Given the prevailing bearish sentiment, it is advisable to adopt a strategy that prepares for additional downside risks. Oct 24, 2023 ◆ Clo

  Introduction: In the analysis of FNGU, the MicroSectors FANG+ Index 3X Leveraged ETN, the daily trend exhibited a bearish momentum three days ago, indicating a downward trajectory. However, on October 23rd, we observed a weakening selling pressure within the ongoing downtrend, suggesting a potential entry point for a short-term rebound trend. This report delves into the current market conditions and forecasts the possible trends for FNGU in the coming weeks. Current Trend Analysis: The daily trend has entered the Bearish zone, currently positioned at -57%, which aligns with the average cumulative selling pressure observed during the previous downtrend. The short-term outlook indicates a continuation of the bearish trend until next week. Short-Term Projection: Over the next two weeks, there is a high likelihood of the selling pressure diminishing substantially, with buying pressure gradually strengthening. This scenario could lead to an overall rebound trend or a temporary, robust