FX.co ★ Trading Signal for Nasdaq-100 (#NDX) for April 01-04, 2021: sell below 15,081 points (21 SMA - 4/8 Murray)

Nasdaq-100 Tech Index (#NDX) is trading below the 21 SMA located at 15,081 and below the 4/8 Murray located at the psychological level of 15,000.

Since mid-March, the NDX began a strong upward movement that reached the maximum of 15,257.

At the beginning of April, the technology index is making a technical correction as part of taking profit for the end of the month and the weekend.

According to the 4-hour chart, a negative signal is observed for the Nasdaq-100, which is showing signs of exhaustion and could continue its downward trend.

In the next few hours, we expect the downward movement to continue and can reach the 200 EMA located at 14,390 and at 3/8 Murray around 14,375.

The US jobs report showed non-farm payrolls rose by 431,000 in March, below the 490,000 expected by market consensus.

US employment data does not change the negative market sentiment, and risk aversion could weigh on the Nasdaq-100 due to skepticism about talks between Ukraine and Russia.

Our trading plan for the next few hours is to sell below 4/8 Murray located at the level of 15,000 or to sell at current price levels, with targets in the area 14,375. The eagle indicator is showing a negative signal which supports our bearish strategy.