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The NASDAQ 100 traded in very thin electronic trading on Labor Day, gapping lower in reaction to the US and China slapping tariffs on each other.
Keep in mind that there will be some electronic trading today but it’s also Labor Day in the United States so it’s very unlikely to have a huge move unless of course there was a shock over the weekend due to headlines.
The Labor Day holiday on Monday will keep electronic trading in the S&P 500 a bit muted, unless of course we had some type of headline coming out of the weekend which at this point I would almost be willing to bet money on.
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The NASDAQ 100 has rallied quite significantly during the trading session on Thursday, reaching above the 50 day EMA late during the session.
The S&P 500 has rallied quite stringently during the trading session on Thursday, heading towards the top of the consolidation area that we been in for some time based upon the idea that the Chinese are not going to continue retaliating in the trade war.
The S&P 500 has found quite a bit of volatility during the trading session on Wednesday, initially dropping down towards the 200 day EMA before rallying again.
The NASDAQ 100 has continued to go back and forth during the trading session on Wednesday, as we have seen on Tuesday.
The S&P 500 initially tried to rally during the trading session on Tuesday but gave back quite a bit of the gains as we reach towards the 2900 level.
The NASDAQ 100 tried to rally during the trading session on Tuesday but found a lot of resistance above the 7600 level.
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The S&P 500 initially gapped lower to kick off the week, as we have seen a lot of concern when it comes to global trade after Donald Trump added more tariffs on the Chinese.
The NASDAQ 100 initially gapped lower to kick off the week as we had a bit of a “risk off” type of situation.
The NASDAQ 100 got absolutely hammered during the trading session on Friday for several different reasons.
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Sign up to get the latest market updates and free signals directly to your inbox.The S&P 500 pulled back a bit during the trading session on Thursday but has also found quite a bit of support to turn things right back around to form a hammer.
The NASDAQ 100 fell initially during trading on Thursday but has turned around to show resiliency again at the 50 day EMA. That being the case, it looks as if we are trying to break out above the resistance at the 7800 level.
The S&P 500 rallied quite nicely during the New York trading session on Wednesday as we continued to see a lot of bullish pressure.