The NASDAQ gapped lower at the open on Friday, testing the 5050 handle. By doing so, the market is probably going to head back towards the 5000 handle,
The NASDAQ gapped lower at the open on Friday, testing the 5050 handle. By doing so, the market is probably going to head back towards the 5000 handle, and it is only a matter of time before we reach there. However, we think that there is plenty support in that general vicinity, so we are not necessarily looking to sell for any real length of time. Ultimately, we do believe that the NASDAQ as much higher and that it will go to the 5500 level eventually, but we recognize that is a very long-term call.
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.
