The NDX rose by 83.90 points or +0.66%. Meanwhile, the S&P 500 (SPX) gained 0.18%, while the Dow Jones (DJIA) gained 0.45%.
Risk appetite on Thursday got bolstered following the worse-than-expected US Retail Sales report by the Commerce Department. Furthermore, renewed optimism that a stimulus could get passed before the end of the year gave investors more confidence. Politico reported that Congress was close to approving a $900 billion stimulus deal, which contained direct payments to consumers. However, that package excluded the much-needed aid to shield businesses and state and local governments.
Meanwhile, the Americans are currently living through the deadliest week of the Coronavirus pandemic. The US now has more than 317,000 COVID-19-related deaths and over 17.6 million confirmed cases.
The FDA, after an advisory panel vote yesterday, has finally approved Moderna’s (NASDAQ: MRNA) COVID-19 vaccine for emergency use. This approval will strongly complement the mass distribution of the available vaccines from Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX). That said, Moderna still managed to drop by 6.9% yesterday despite its big week ahead.
The Federal Reserve announced a very dovish monetary stance on Wednesday, as expected. The Fed noted that it was committed to sustaining its current asset purchase program until notable improvements are observed in employment and price stability.
Nasdaq 100 (NDX) Value Forecast — December 18
NDX Major Bias: Bullish
Supply Levels: 12800, 12850, and 12900.
Demand Levels: 12700, 12650, and 12600.
The NDX has reached a new all-time high as the market risk appetite soars. As predicted in a recent analysis, the 12750 area has served as a consolidation area for the tech-heavy index. That said, we could see a slight consolidation or a pullback from this level before proceeding to the 12900 price point. The NDX is currently trading around 12750 and a drop from here will get immediately repelled by the 12645 support.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.