The NASDAQ went back and forth during the course of the week, testing the 5000 level at the bottom, and the 5100 level at the top. Ultimately, the market
The NASDAQ went back and forth during the course of the week, testing the 5000 level at the bottom, and the 5100 level at the top. Ultimately, the market ended up forming a bit of a hammer and as US indices go, this is our favorite at the moment. We feel that if we can get a daily close well above the 5100 level, the market should continue to head towards the 5500 level given enough time. We have no interest in selling, we see far too much in the way of support all the way down to at least 4800.
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.
