The Nasdaq 100 booked a new ATH around 12,539 yesterday before reclining to the 12,450 at the close of the market. The SPX saw a new ATH at 3,683 before falling to the 3,650 area, while the Dow Jones (DJIA) rose to a fresh daily high.
Stock indexes on Wall Street fell from their daily highs on Thursday after Pfizer announced that it could only ship half of its proposed vaccine for 2020. Nonetheless, the drug manufacturer expects to deliver over a billion doses in 2021.
Pfizer explained that it was experiencing supply chain issues and that shipment of raw materials for the vaccines fell below their recommended standard, according to a report by the Wall Street Journal. The company’s shares fell by 1.7% on the news.
Moving on, investors will be turning their focus to the monthly US Nonfarm Payrolls and employment report from the Labor Department. Speculators expect November’s job numbers to grow by 438k.
Nasdaq 100 (NDX) Value Forecast — December 4
NDX Major Bias: Bullish
Supply Levels: 12539, 12600, and 12650.
Demand Levels: 12450, 12350, and 12220.
The NDX has broken a new ATH high, following a steady bullish climb over the week. At press time, the index has fallen into consolidation as markets brace for the NFPs report.
Meanwhile, a fall from this level should get repelled by the 12350 mark, where our ascending channel currently lies. However, a retest and break of the 12539 ATH in the coming hours is not out of the picture.
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.
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