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NASDAQ Forecast October 29, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 07:00 UTC

The NASDAQ gapped at the open on Tuesday, clearing the 4500 level. This of course is a very bullish sign and it now appears that we are going to hit the

NASDAQ Forecast October 29, 2014, Technical Analysis

The NASDAQ gapped at the open on Tuesday, clearing the 4500 level. This of course is a very bullish sign and it now appears that we are going to hit the 4600 level in the short-term. We think that pullbacks will offer buying opportunities offer short-term charts, as the market is obviously very bullish. With the Federal Reserve releasing an interest rate announcement today, the statement will be parsed by traders around the world, and any hint of accommodative policy will send stock markets much higher. At the end of the day though, a Federal Reserve that feels confident enough to stop helping would also be bullish once the initial knee-jerk reaction occurred.

 

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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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