Tech took a hit yesterday – big moves setting up

With Netflix taking a hit after earnings last night, we saw the Nasdaq drop hard. But we are already seeing cracks in the indices and with the Dax giving us 2 Trend Predictor short signals on the Weekly – it’s time to be cautious. There are big moves setting up, let’s take a look at the charts.

EURUSD Daily

The only way to trade this range bound market at the moment is to trade the intraday highs and low range. The Daily chart is sideways and has no direction. So we wait for the next Pro-Trading System signal for confirmation.

GBPUSD

Same as the EURUSD. Maybe time for a drop in Cable as the Dollar may strengthen if indices fall. We will wait for fresh signals.

NASDAQ Daily

After Netflix earnings drop the Nasdaq fell hard as most of the other FANGS fell with it. We have a 3 wave short signal on the Weekly so this could put this leading index under pressure.

DAX Weekly

We have a Trend Predictor short signal.

FTSE Daily

Starting to look weak, so waiting for a Pro-Trading System red short signal to confirm.

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