Daily Brief Technical Analysis: NASDAQ 100 E-Mini Futures (NQ1) - Multiple Bullish Triggers Confirm a Multi-Month Uptrend Bias and more

In today’s briefing:

NASDAQ 100 E-Mini Futures (NQ1) – Multiple Bullish Triggers Confirm a Multi-Month Uptrend Bias
Tencent Holdings Ltd (700 HK) – Bullish Multi-Month Outlook – Target 450+ (+20-25%)
MSCI EM $EEM 2-Month Downtrend Reversal at Support — Add Exposure. Upgrading Taiwan to Overweight

NASDAQ 100 E-Mini Futures (NQ1) – Multiple Bullish Triggers Confirm a Multi-Month Uptrend Bias

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
Q1 2023 has confirmed that the material 2022 downward correction is likely complete. Subsequently, after a period of correction, the resumption of the Q4/Q1 uptrend was confirmed.
Bullish price triggers combine with positive MT/LT momentum triggers to initially target 13740. A break above 13740 is increasingly likely and would present a far more bullish MT outlook.

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
Last week complemented November 2022’s bullish LT confirmation with a bullish MT confirmation, re-instating the MT uptrend after a period of correction in Feb/Mar.
Tencent Holdings Ltd (700 HK) has likely entered the 2nd leg of a material MT uptrend. Q2 2023 target towards 451.95 (+25%).

In our February 6, 2023 EM Strategy, we discussed that we were buyers of the MSCI EM (EEM-US) on a pullback to the 50-day MA.
The pullback went a bit deeper but managed to hold at our $37.50 line-in-the-sand which we discussed in our recent ETF Pathfinder reports (Mar. 6 and Mar. 20, 2023).
The EEM-US displays a bullish 2-month downtrend reversal- add exposure. Signs continue to point to a topping DXY, and a declining DXY has historically resulted in EM outperformance (vs. EAFE).

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