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Trade idea: Sell Nasdaq on taper talks
Clive Lambert from FuturesTechs is looking to sell the NASDAQ. After watching the equities indices he has noticed that it is looking particularly weak.
Stocks tumbled on Wednesday after the Federal Reserve said that "tapering" may be on the foreseeable horizon. Fed officials felt they could decide to start scaling back the US central bank's asset-purchase programme at one of its next few meetings - provided this was warranted by economic growth.
On a technical side, the NASDAQ broke trend support at 3390, failing for a second day in a row. As a result, Clive is looking to sell within a range of 3300 - 3380 with a target of 3305 – 3310.
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01:06 minutes
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