Nasdaq technical analysis: A contrarian long on Nasdaq

Nasdaq futures may retrace up here, contrary to the bearish sentiment of the crowd. But it may be a short term trade, so watch the target and stop loss within the NQ technical analysis video.

Itai Levitan

The Jackson Hole event devastated the market on Friday, and futures even opened with a gap down.
The majoirty of market participants are fearful at this stage, which might be a time for a contrarian Long, as Nadsaq futures may be finding support at the VWAP shown.
Betting on a relief rally, even if it is short term, is legitimate since the reward vs risk makes is a fair play. Watch the stop loss and take profit targets within the following technical analysis video for Nasdaq at the start of the week, starting 29 Aug 2022

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NQ technical analysis update after market opened on 28 Aug

Nasdaq