The NASDAQ 100 index ended today off with another strong rally.
We are above the 11,000 level, and it’s likely that we will continue to at least try to continue the climb from here.
The market does have a recent history bias of falling quite hard, bouncing significantly, and then selling off yet again.
There has been a lot of noisy behavior over the last several weeks, and I think that will continue to be the case, especially now that we are in the midst of earnings season. Keep in mind that anything can happen as far as the markets are concerned, especially as the earnings season will also include forward guidance, which a lot of people will have to pay close attention to.
Our bolinger bands give sight into the gaining strength that the index has to cross over the middle ground, adding to a possible continuation.
Geopolitical problems could continue to be a major problem, and of course the interest rate situation will have to be watched closely. Furthermore, there are hints that the real economy itself is starting to see cracks, and therefore it’s likely that we are going to feel a lot of negative pressure from time to time.
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