NASDAQ 100 The NASDAQ 100 tried to rally during the week but as you can see we turned around to form a shooting star. This is an extraordinarily
NASDAQ 100
The NASDAQ 100 tried to rally during the week but as you can see we turned around to form a shooting star. This is an extraordinarily overbought market so I think a pullback is coming. I would love to see this market pull back to somewhere near the 5175 handle to take advantage of value, but I certainly have no interest in selling as we are so strong.
The Dow Jones 30 looked a little more healthier by the end of the week, but having said that it’s not is overbought. I think that the Dow Jones 30 will continue to go higher, so I think a pullback that show signs of support is a nice buying opportunity. I believe that the 20,000 level underneath is the floor.
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.