The NASDAQ 100 initially tried to rally during the week, but found the 4900 level to be a bit too resistive. This is an area where we have seen a lot of
The NASDAQ 100 initially tried to rally during the week, but found the 4900 level to be a bit too resistive. This is an area where we have seen a lot of selling pressure anyway, so pullback from here wasn’t a big surprise. What was surprising is how find when it was. However, Friday saw some of the selling pressure abated, and therefore looks as if we’re going to continue to consolidate in the same general area that we have been in. Short-term charts might be used to buy this market, but beyond that I don’t see much in the way of a 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.
