It was another mixed day for the market as the Nasdaq has now slipped into a full market correction. The Nasdaq is now down 10% from its February 12 closing high. The tech-heavy index has taken a beating lately, with a tech stock sell-off dragging it down. Bond yields continue to be an issue for investors as rates creep up higher. Inflation is becoming an ever-growing concern for Wall Street. But the latest indicators show that the economic recovery is healthy. Once the House votes on the Senate's version of the stimulus bill, we should see sectors hit by the pandemic gain more traction. Overall, we can expect continued volatility as the market shifts from a growth mindset to a value one. But the transition could cause some waves until investors settle in. I'm watching the market on a regular basis as this all plays out. Be sure to keep an eye on my analysis and updates to stay informed of any trading opportunities that develop!
Now let's go Beyond the Trade: Will the Bulls or Bears Control the NASDAQ 100? In my latest video, I give an in-depth analysis of the Nasdaq 100. It's currently reaching a known U-turn point of support but looks to be in an overall bearish trend. This market U-turn point is pivotal: if the market closes below support, this can confirm an overall bearish move and market sell-off. And that's basically what we've seen so far on Monday. If the bears do take the Nasdaq 100, we will have to wait to find the bottom to get the next Nasdaq 100 market entry. Stay tuned and watch the video for a full update!
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Monday, March 8, 2021
The Nasdaq is now in a full correction
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