NASDAQ 100 Continues to See Upward Pressure as Target Hit
At this point, pullbacks will more likely than not offer a bit of value, as long as we continue to see traders willing to dive into the larger technology stocks.
Over the last couple of days, I have been talking about the 13,750 level as a potential target for theWhether or not we can close above, there remains to be seen, but it is most certainly an area where we could see a bit of selling pressure. It’s worth noting that the NASDAQ 100 of course is going to be pushed around by a handful of stocks, so you need to keep an eye on the usual suspects like Meta, Alphabet, Tesla, etc. as they are an outsized influence on the index.At this point, pullbacks will more likely than not offer a bit of value, as long as we continue to see traders willing to dive into the larger technology stocks. Ultimately, the 13,200 level should offer a significant amount of support.
It is worth noting that the area that we are testing right now to the upside is a significant barrier, so it’s possible that we could see quite an explosion to the upside if we do in fact take off to the upside.easing interest rates, despite the fact that they have sworn up and down that, it’s not happening. With that being the case, expect a lot of noisy behavior. With this, it still remains a “buy on the dips” scenario, but the market is also a little overextended at the moment.
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