NAS100, What Goes Up Must Come Down!
Nasdaq 100 Weekly/Daily Charts-
What goes up must come down! The US100 is operating @ an all time high with the market being in a very strong Uptrend.
Fundamentals- The Nasdaq has staged a massive rally over the last few trading sessions in the aftermath of election night. With challenger Joe Biden looking set to claim victory over incumbent Donald Trump, and prospects of a split congress squashing fears of higher corporate taxes, investors have pushed major stock indices notably higher this week. Nasdaq price action surged almost 10% from last Friday’s close while the S&P 500 and Dow both gained about 7% a piece. This coincided with a sharp slide in the US Dollar and breakout in gold prices.
Price is currently monthly Resistance level (brown zone) which has been respected multiple times and this is where I'll be looking for counter-trend opportunities on the 4HR Chart this week!
Link to Weekly Chart;
Tradingview.com/x/C5QlAE4I/
What goes up must come down! The US100 is operating @ an all time high with the market being in a very strong Uptrend.
Fundamentals- The Nasdaq has staged a massive rally over the last few trading sessions in the aftermath of election night. With challenger Joe Biden looking set to claim victory over incumbent Donald Trump, and prospects of a split congress squashing fears of higher corporate taxes, investors have pushed major stock indices notably higher this week. Nasdaq price action surged almost 10% from last Friday’s close while the S&P 500 and Dow both gained about 7% a piece. This coincided with a sharp slide in the US Dollar and breakout in gold prices.
Price is currently monthly Resistance level (brown zone) which has been respected multiple times and this is where I'll be looking for counter-trend opportunities on the 4HR Chart this week!
Link to Weekly Chart;
Tradingview.com/x/C5QlAE4I/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.