NASDAQ (US100) Technical Analysis

• Huge uptrend
• We should see further bullish domination
• Price projection goes to 17000
• Order block breakout

1. The swing number one
2. Swing Low
3. Price move prior to order block breakout
4. Order block breakout & target projection

The price is bullish.

Equities in the west are mainly buy the dip strategy and it is clearly visible on Daily + higher TFs. Companies do buybacks of stock, lowers the number of stock available, therefore PE ratio goes up. The companies aren’t reinvesting in new stuff, they are just buying back stocks – because the Executives might have bonuses tied to share price. So if they have no profitable places to invest in, just buy back the stock and inflate the stock price. The NASDAQ is targeting 17000.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad