well what a crappy start to the year.
luckily still within the overall trend but really pushing down on that support soon, potentially tonight.
The nasdaq really needs to keep up over 15,500 to stay within the trend. Breaking this and we've dropped a strong trend since the September pull back of 2020.
The Fed said they are now going to be additionally offloading their balance sheet by selling bonds and MBSs shortly, maybe around March which will begin to pull cash out of the financial markets and put downward pressure on high PE stonks. Also if the Fed starts lifting earlier than anticipated this will hurt too.
So the Fed is lifting rates, at the same time as tapering QE and then reducing their balance sheet - i mean, what's the GOD DAMN RUSH!!
So, keeping my strategy of moving to 30% cash when the Nasdaq returns to about 16,500 in the near term and then waiting for a decent pull back when/if something happens in the future.
Appen and the Nasdaq, page-25
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