Nasdaq, S&P500 and Bitcoin bearish outlook for next week.

20 Eyl 2020

Indices and the #Nasdaq and #S&P500 should bounce at US open on Monday. In bearish trends or corrective moves the beginning of the week brings about bounces followed by continuation of selling. There's also a chance of a bounce up at the end of the week. After Monday I'm looking at big sell offs across these three asset classes. The Nasdaq could fall to $10,420 the 100 day moving average or as low as $10,227. In the S&P500 the 382 fib at $3,338 has held strong if this goes the fib 50 at $3,260 and then the 100 day SMA at $3,168 in focus. #Bitcoin targets $10,378 (100 day SMA). Or 21 weekly EMA $10,057. On the upside over the weekend Bitcoin could test the 50 day moving average at $11,258. I rather fancy it won't and we should look to the downside. The bearish divergences I demonstrate here prove how strong an indicator they are for future price movements.

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