NASDAQ100 forexsignal Looking to Buy the Dips
That being said, it will be interesting to see how Friday plays out due to the fact that it is the end of the month, and therefore a lot of people will be looking to markup their positions.
This tends to favor upward pressure, especially after he is as it is everything to the Wall Street firms. This doesn’t mean that the market has to go higher during, just that historically speaking that tends to happen. On some type of pullback, the 14,600 level is an area of support, that has been important previously. Because of this, I think it’s probably only a matter of time before market participants would be willing to jump into the market near that area. That will be especially true considering that the 50-Day EMA is racing toward that area, but ultimately this is a market that I think is looking for some type of directionality.
Potential Signal: going forward, I believe that the NASDAQ 100 will do everything it can to reach the 15,250 level, an area that we recently pulled back from. Whether or not we can break above their remains is to be seen, but I still like buying dips here, with the stop loss near the 14,800 level.
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