The NASDAQ 100 continues to see a lot of noise in the headlines, but remains somewhat buoyant as well.
NASDAQ 100
The Nasdaq 100 continues to see a significant amount of choppiness as we look to the headlines to try to discern where to go next. After all, tensions between the United States and Iran don't seem to be calming down, and this has a very negative influence on how risk appetite is perceived around the world. This continues to be the game that we are playing at the moment.
Top Regulated Brokers
Interest rates in the United States continue to climb, and that is a major problem for a lot of larger techs; quite frankly, this index is probably the first place that fear would show up in this environment. Ultimately, the artificial intelligence trade is also a major concern as well. So, with that being the case, this market will, more likely than not, remain very noisy as we dance around the crucial 50-day EMA.
Key Levels and Technical Outlook
The 29,000 level has also had a certain amount of support attached to it and still remains psychologically viable. To the upside, we have the 30,000 level, which is a large, round, psychological figure that a lot of traders will be watching very closely, as it has been important previously in this index.
Ultimately, this is a news-driven market like many others at the moment, and unfortunately, the news is so erratic currently that it just leads to choppiness. When you look at short-term charts in the Nasdaq 100, a lot of what you see is simple barcode-type trading where you chop back and forth and pretty much everybody gets to lose money.
This has been a very tough couple of weeks because of the sudden erratic moves, but when you look at the longer-term charts, the Nasdaq 100 is still significantly bullish over the last several months, and this recent noise hasn’t changed that yet.
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