Yesterday, Huang, the leather-jacketed hero at the CES conference, released a big news that was good for AI. After Nvidia's stock price jumped to a record high, the Nasdaq began to flood out of control. During the pre-market trading period, the cryptocurrency-related sectors had already begun to fall slightly. It is usually regarded as a normal correction to fill the gap. It eventually triggered a chain reaction and major indexes fell one after another.
The rise of the US dollar index and 10-year US Treasury yields, Wall Street analysts generally believe that the market is overheated and overvalued. Trump will take office this month. The market is now correcting, and it will start to rise before the day of his inauguration, creating a prosperous scene, which can be regarded as a good start for Trump's inauguration.
Back to the market. From the daily level, yesterday's outer negative line formed a bearish engulfing at the daily level, and the head and shoulders top pattern is being built. Only the right shoulder is slightly higher. At the daily level, it will gradually seek support near 90,000. If you can see the price behavior of the pin-in volume recovery, then the short-term will maintain high-level fluctuations. The top reversal of the bull market is usually a whole range, with multiple peak numbers superimposed and nested, slowly forming a reversal. The top oscillation of this round of bull market may not last long enough.
The 4-hour level has not stopped falling. Usually, there will be a certain rebound in the sharp decline. According to the adjustment of ABC waves, we need to look at the height of the B wave rebound and the volume below to determine the overall trend. The ideal situation is to rebound to around 9w9 and see another false breakthrough, which is the opening point of short orders or spot hedging orders.
Several locations that need attention
Support position
First position 92834
Second position 90500-91000 (spot)
The third position
Pressure position
First position 96260
Second position 97500
The third position 99000
Daily market analysis, like and follow to avoid getting lost.
