Nasdaq has break its range from of 12700 & now moving towards 11763.
Range: 12800 - 11763
Our Preference: Sell ND 12763 with target 12220 & 11763 with SL only above 12900+
Alternative Scenario: Buy Nasdaq 11763+ for target 12500 with SL only below 11620
12222 Buy with SL 12150
120$ Billion liquidity has been reduce by 95$ Billion which is also continue reduction month on month & this will dry the liquidity from the market which cause major downside only.
Fed has increase interest rate on 4t May 2022 by 50 basis point after 2000, & more interest will hike in next meeting is expected this will cause to Nasdaq remain lower. So all bounces are for the sell purpose.
Range: 4000 - 4250
Our Preference: Buy S&P @ 4020 with target 4125 SL below 3990
Alternative Scenario: Sell S&P @ 3970 for target 3870 with SL only above 4000+.