European friends hear me out. I know its tempting for you to buy in those growth stocks rallying the third week in a row and seeing the deep green after CPI. But pls take a step back:
Literally all nasdaq stocks are around RSI70. Meanwhile euro is weak as fuck which means you get less equity for your dollar. See the chart of Eur/usd today when CPI was released. The euro rallyed 1%. Imagine euro getting stronger and the rallye is a fake rally. Your downside is huge for literally no potential gain at all. There never was a worse risk reward ratio than this week.
I have a lot of money in nasdaq equities. But i would not buy in in the current enviroment. Wait a few days/weeks. Rsi around 40/50. then buy.
Just my five cents. Would love to hear some opinions of others.
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