The NASDAQ 100 and rallied on Thursday but struggled once it got to fresh, new highs. I think a pullback is healthy, it will simply build up enough
The NASDAQ 100 and rallied on Thursday but struggled once it got to fresh, new highs. I think a pullback is healthy, it will simply build up enough momentum to continue to grind higher. I also believe that the 5000-level underneath is going to be supportive, as it was once so resistive. The longer-term uptrend should continue, so I have no interest in selling this market as the NASDAQ 100 should follow all the rest of the US indices to the upside. Ultimately, I think in the short term are target is going to be 5100.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
