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NASDAQ 100 forecast for the week of January 23, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 21, 2017, 07:48 UTC

The NASDAQ 100 went back and forth during the week, but most importantly showed support at the 5000 handle. The 5000 handle begins a significant amount of

NASDAQ weekly chart, January 23, 2016

The NASDAQ 100 went back and forth during the week, but most importantly showed support at the 5000 handle. The 5000 handle begins a significant amount of support all the way down to at least the 4900 level, so I have no interest in selling. Pullbacks offer value that I plan on taking advantage of, but I also look forward to buying this market on a breakout above the high. Either way, selling his and even a thought, as the NASDAQ 100 continues to show real signs of strength, just as all US indices are.

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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