If the market were to break out above the top of the from the previous session on Thursday, then it could open up a relatively big move, perhaps sending the NASDAQ 100 towards the 16,000 level. That is a large, round, psychologically significant figure, and that of course is something worth paying attention to. The markets do tend to pay close attention to these big figures, so do not be surprised at all to see that targeted and cause issues.
That being said, we are a little overdone and a pullback is probably a good thing. It is very possible that if we see interest rates spike in the United States, the NASDAQ 100 could end up offering a reason for the NASDAQ 100 to break down a bit. Nonetheless, I just do not see this market breaking down below that uptrend line, but if we do clear the 15,000 level, then it is possible that we could break down a bit and it might offer an opportunity for me to start buying puts. After all, the markets are highly influenced by the , so therefore if we do break down a bit it is likely that the Fed will do something to jawbone the markets back to the upside, as we continue to see them rude for Wall Street like they have for the last 13 years. There is no situation right now that I could consider shorting this market outright, so little bit of patience to pick up value on a pullback probably makes the most amount of sense currently. With that, I remain but recognize that we may have to take a break.
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