Nasdaq Leading The Indices
Nasdaq is the only Index creating new all-time highs with the S&P and Dow Jones lagging behind,
but if the bullish moves continue it should not be too long before they follow suit.
The previous all-time high was set back in February 2020 at a high of $9736 which was broken
this month. If June’s candle can close above this high at the end of the month then we should
see a continuation of the uptrend.
Also, price is trading above the major $10000 round number which is a significant level of resistance.
How price reacts to this level over the next few days and weeks will help to indicate where price may
be heading next.
If price starts to decline at $10000 then we may see further weakness or a pullback before a continuation
of the uptrend. If price remains above $10000 then we should see further strength in the markets.
The Nasdaq contains Tech stocks and you will notice that many stocks in this sector have been performing
really well during the lockdown period as many individuals and businesses have been heavily reliant on
Tech companies.
We are long on a few stocks and will be looking for further opportunities as they present themselves.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
but if the bullish moves continue it should not be too long before they follow suit.
The previous all-time high was set back in February 2020 at a high of $9736 which was broken
this month. If June’s candle can close above this high at the end of the month then we should
see a continuation of the uptrend.
Also, price is trading above the major $10000 round number which is a significant level of resistance.
How price reacts to this level over the next few days and weeks will help to indicate where price may
be heading next.
If price starts to decline at $10000 then we may see further weakness or a pullback before a continuation
of the uptrend. If price remains above $10000 then we should see further strength in the markets.
The Nasdaq contains Tech stocks and you will notice that many stocks in this sector have been performing
really well during the lockdown period as many individuals and businesses have been heavily reliant on
Tech companies.
We are long on a few stocks and will be looking for further opportunities as they present themselves.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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