GENERAL ADVICE ONLY
Global X Ultra Short Nasdaq 100 Hedge Fund (SNAS) is an exchange traded managed fund that aims to provide investors with geared returns that are negatively related to the returns of the Nasdaq-100 Index by investing primarily in a portfolio of short E-mini Nasdaq-100 Futures contracts listed on the Chicago Mercantile Exchange.
Rationale:
Nasdaq chart looks extremely weak as MAG 7 look to have lost a lot of momentum. The rotation out of tech continues, so expect this downward momentum to accelerate. Payrolls number tonight could be catalyst needed for the sell off to accelerate, so look to get set today. Graphic below shows that September is statistically the worst month for US stocks and this gets worse during an election year
Trade Strategy:
Buy SNASÂ
Long Entry: Buy up to $1.55
Target $1.80
Stop $1.40
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.