NASDAQ Set To Tumble
Investing as a hedge fund could offer us a lot of momentum to the downside given the current market conditions. With the recent break in the equities rally, we seem to have reached a tipping point.
Will the markets eventually blow lower? As recently shares like Apple, Facebook, Amazon and Adobe among others have utterly outperformed the markets, they may now become highly vulnerable to profit-taking. All of these key players look highly overbought with indicators pointing to more selling potential.
We hence shorted the NASDAQ (NAS_100) at 9700 with SL at 10150 and TP around 9305.