Category: Forex News

NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Upward Pressure

NASDAQ 100 Technical Analysis

Take a look at the Nasdaq 100 and you will see that we have bounced around a bit near the 18,000 level, while I record this, we are waiting on the CPI numbers. It’s a pretty simple formula, if it’s bad for the economy, it’s good for Wall Street, and that’s because they are looking for the latest handout. So if inflation comes in hot, it will more likely than not be negative for stocks. But if it comes in really weak, like the economy slowing down, then they’re going to be all about it and start buying again. That being said, I do think you have a bit of a channel going on at the moment.

It’s not a perfect channel, but it is close enough that I think you have to pay close attention. Ultimately, this is a situation where market participants will continue to look at dips as buying opportunities, treat them as such, and take advantage of cheap contracts. The 20 day EMA continues to offer support and the 18,000 level, I think more or less is going to be an area where people pay close attention just because of the psychology involved.


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