Welcome to Extreme Investor Network, your go-to source for all things stock market, trading, and Wall Street related. Today, we are diving into a technical analysis of the NASDAQ 100 to help you navigate through the current market trends and potential opportunities.
The NASDAQ 100 has been on a bullish run, but in the past few days, we have seen some consolidation as the market tries to determine its next move. It has found support around the $17,850 level, indicating that there are buyers waiting to step in at these levels. However, with the market not too far from its all-time high, a bit of caution is warranted.
Earnings season is also in full swing, bringing its own set of challenges and opportunities. Despite the uncertainties, I believe that the buyers will eventually regain control of the market. Personally, I am bullish on the NASDAQ 100, but I am looking for a slight pullback to enter the market at a more favorable price point.
In the long term, I see the potential for the NASDAQ 100 to not only reach its previous highs but to continue climbing higher, possibly hitting 20,000. In terms of support levels, keep an eye on the 17,850 level and the 50-day EMA, which could provide additional support in case of a downturn.
Stay tuned to Extreme Investor Network for more insights, analysis, and tips on how to navigate the ever-changing world of the stock market. Let us help you become an extreme investor and maximize your potential in the market.
