The NASDAQ 100 fell initially during the day on Friday but found enough support at the 4650 handle to turn things back around and form a nice-looking
The NASDAQ 100 fell initially during the day on Friday but found enough support at the 4650 handle to turn things back around and form a nice-looking hammer. The hammer of course is a very bullish sign, so a break above the top the hammer could have the buyers coming back into this market. The breakdown below the 4650 level would be bearish, but I think that today’s session might be fairly quiet because it is the day before the presidential elections. Because of this, I would wait until at least a daily close above or below, and then would probably still be fairly hesitant to take the trade.
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.
