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NASDAQ 100 Forecast August 24, 2016, Technical Analysis

By:
Christopher Lewis
Published: Aug 24, 2016, 05:03 UTC

The NASDAQ 100 as you can see broke higher during the course of the day on Tuesday, as we continue to see buyers enter this market every time we pullback.

NASDAQ 100 daily chart, August 24, 2016

The NASDAQ 100 as you can see broke higher during the course of the day on Tuesday, as we continue to see buyers enter this market every time we pullback. We believe that the market will eventually try to reach towards the 5000 level, and with this being the case, it’s likely that the buyers will return again and again as there is more than enough reason to think that the markets in the United States will continue to outperform many of their counterparts. I have no interest in selling, and I believe there is quite a bit of support below.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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