The NASDAQ gapped higher at the open on Friday, and then turned back around to fill that gap. However, just as you would expect, the market bounce from
The NASDAQ gapped higher at the open on Friday, and then turned back around to fill that gap. However, just as you would expect, the market bounce from there and ended up forming a hammer. The hammer is at the top of an impulsive move, and as a result we believe that the market is going to continue to find buyers every time we drop. We believe the market will eventually head towards the 5230 level given enough time, and levels above there. With no interest in selling the NASDAQ as the stock markets in general look fairly healthy.
NASDAQ Forecast August 3, 2015, Technical Analysis
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.
