Nasdaq 100 is starting October with a super rally! In this Nasdaq analysis we look at if this rally can continue for the Nasdaq 100, SP500, US30 and Spy Stock!
On Friday as covered in our Nasdaq analysis the Nasdaq 100, SP500, US30 and Spy Stock had a dire finish to the quarter. However, after producing lows in futures action the Nasdaq 100, SP500, US30 and Spy Stock staged a strong rally. The Nasdaq today is building on this rally with the Nasdaq 100, SP500, US30 and Spy stock all advancing for a second day in a row!
Will the rally stick into the close for the Nasdaq 100 as that is most important! In our Nasdaq analysis we touched upon critical levels yesterday for the Nasdaq 100, SP500, US30 and Spy Stock. In this Nasdaq analysis update we look at the key levels again to clarify what the Nasdaq 100, SP500 and US30 must do to continue this advance!
Our Nasdaq trading strategy has been struggling lately with our long positions! Were we right to hold them all that time when we could have realised gains sooner! Instead, we have been fluctuating from gains and losses and our Nasdaq trading strategy along with our resolve has been totally tested by the Nasdaq 100 movements!
So, will the nas100 recover in strong fashion? It is very early to say however so far, we have this strong two-day rally taking place for the nas100 and from the perspective of Nasdaq technical analysis things are looking good! How about our Nasdaq 100 forecast?
Well one step at a time as let’s see if today’s rally for the Nas100 can stick into the close and if we keep or liquidate our long positions based on our nas100 trading strategy! The Nas100 is certainly looking good so far! Regarding our Nasdaq 100 forecast? Well yes, we made a Nasdaq 100 forecast for the Nas100 to head above 13,000 over the coming weeks! So, whilst the nasdaq100 looks good with a two day advance it is frankly too early to say!
Will the Nasdaq 100 continue with this path? We feel the current advance could double up for the Nasdaq 100 and of course that would mean further gains for the SP500, US30 and Spy Stock as well. Nasdaq trading is not easy as clearly, we have seen that with our own positions considering recent volatility. So, what will our Nasdaq trading strategy do next? Well, a lot of that will be dependent upon how the Nasdaq 100 price action behaves over the coming sessions.
Our Nasdaq analysis today also looks at some other stats regarding upside potential for the SP500! This would be a positive development for the Nasdaq 100, SP500 and US30 as well. Surely our Nasdaq 100 forecast is doomed? Well, this may seem to be the case, but it is no way conclusive, and we still favour a nasdaq100 above 13,000 over the weeks ahead.
Once again Nasdaq trading is not easy, and we are not in the business of essentially making a Nasdaq prediction however price is king. So, from that perspective we must see how the next few sessions go for the SP500, US30, Spy stock and Nasdaq 100.
Let’s see how Nasdaq technical analysis shapes up heading into our next Nasdaq analysis.
Ultimately the nas100 still needs to get above 11725 as that is a crucial area for the Nasdaq!
So, for now we will be patient and monitor price action along with key levels for the SP500, us30, spy stock and Nasdaq 100.