NASDAQ100 INDEX - Nasdaq may bounce, but beware... - 08/09/2024 (GMT)

The high-volatile envoronment in the US stock market assumes a sharp and rapid pullback given the risk appetite getting back, as the US dollar remains to stay under pressure.

After Bank of Japans officials claiming the return of the mild monetary policy, the market panic trimmed, and we may observe Nasdaq and S&P500 retracing higher.

However, from the previous historical studies, we know that such pulbacks are usually temporary and market fear quickly takes over, after some period of time.

This time, we may see Nasdaq retesting the 50-day moving average above, after which it might slide down back to the current price levels.