Nasdaq100 Simple Chart Anaysis

If Nasdaq would move in as reversal here. We could see a potential 42% profit vs 9% losses which is a very good risk ratio reward here.

There is a double bottom indicator there to trigger this reverse along with breaking the 1st resistance 11678 area. Soon i assume it will break those trend line & red chip will start appearing from there. This is what we need to project the continuous bull movement. On risk side broke 10674 will be an exit of everything if there is a u turn which we do not hope that will happen.

May the bull be with us.

My Market Outlook

Quarter Result Month
Nov 15th PPI
Nov 16th Core retail sales data
Nov 17th Initial Jobless Claims & Fed manufacturing index
Nov 18th Existing home sales


Boom head shot ! That's what we need from economic data to revive the bull movement. If you notice what we guided before this is to wait for a better economic data only to involve ourself into the market without worry. We do speculate 2018 historical before that Mid Nov or nearing to Christmas, there will be a rally that might bring some bull movement hope. So how long this rally will last? Again, no one will know but we can predict base on my personal opinion as below.

We can actually refer back to the 1st time CPI data went down on July month from 9% peak down to 8%, there is at least a month rally on going till that Powell came out & reverse everything. Thanks god that coming month, there won't have any of his appearance on the economic calendar. Since the last Feds minutes also indicate that there will be a slow down of rate hikes if inflation data had gone down so i assume they will kept their promises by hiking 0.25 to 0.5 on 14th Dec & after that will be a very crucial point cause investor wanted Feds to project the 1st cut on 2023. If that is happening, our all time favourite tech stock would continue their reverse journey back to bullish. This is what i am anticipating that will happen as current chart did indicate a support for them. On the risk side, only CPI, FEDS & Powell could reverse this bull hope so we will monitor them closely.