This week, my focus will be on the ongoing selling pressure in both the NDX (Nasdaq 100) and SPX (S&P 500).
Currently, we’re seeing prices dip below last Friday’s close, signaling a bearish trend. Expect heightened volatility in the Insurance sector. If we don’t see further declines, I’ll take note of it. However, I won’t be taking large positions to the upside because a bearish day in NQ (Nasdaq 100 Futures) today could lead to three consecutive days of downward closing values which can trigger larger trend followers models.
Also worth mentioning, VIX futures are hovering near the critical 20 level, indicating increased market fear or uncertainty.
For visual context, here’s a chart of SPY (S&P 500 ETF) highlighting the lows from October 2022:
Stay vigilant and adjust strategies accordingly.
Here you have Key News for the last 12 hours
