NASDAQ 100 – Week 6 – Earnings to impact Wall Street?

A day earlier, the Nasdaq powered to another record closing high as tech stocks outperformed. In the current situation we expect the price to crawl towards the 14000.0 psychological level as we still have some bullish momentum left in the tank in order to wipe-out potential sellers. This target may be reached today, when FED Chair Jerome Powell will hold a speech in 4 hours from now.
Another aspect that can impact US100 could come from different companies that would report their earnings today, such as Coca-Cola (KO), UBER, GENERAL MOTORS (GM) & CME.
From a technical perspective, the price is moving righteously inside the channel, continuing to create higher-highs with continuous divergence forming on the Relative Strength Index. This is a sign that the bearish trend is running out of fuel, with a bearish move very likely on the cards that can push the price in its 13k’s.
We recommend patience and discipline. Don’t jump in any trade without a proper setup.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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