Nasdaq 100 Sink 📉 as Treasury Yields Climb

Hello, good day traders! 👋🤙

📰Fundamentally,

Dow Jones, S&P 500, and Nasdaq 100 decline as Treasury yields increase.

Markets have already factored in a more hawkish Fed, putting APAC stocks at risk.

After last week's policy announcement, if you looked at the Fed's projection for interest rates, you would see that it was more aggressive than what the market was pricing in. As expected, it appears that this divergence let volatility in. Given this, it is still logical to predict that the tech-heavy Nasdaq 100 may continue to be more vulnerable going forward.

🤔On the technical front,

1.) Looking at the H4 chart with price being below the Ichimoku cloud it indicates a bearish market, I am looking for a sell entry at 11450.34, where the 38.2% Fibonacci line is.

2.) Stop loss will be at 12166.41, where the previous swing high is.

3.) I intend to take a profit at 10677.48, slightly below where the 78.6% Fibonacci line is located.

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Sell Entry: 11450.34 📉

Take Profit: 10677.48 💲

Stop Loss: 12166.41❌

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