Nasdaq 100 Price Analysis — January 12


Wall Street saw a red trading session on Monday, as investors cashed out their profits after a bullish start to 2021 and amid worries of the political situation in Washington. The Nasdaq 100 (NDX) shaved off about 1.5% from its value after hitting a new all-time high at 13100 last week.

Last week’s rally got induced by the Democratic win in the Georgia runoff elections, which investors saw as a pointer for an additional fiscal stimulus package to bolster the pandemic-ravaged economy.

However, some investors are worried that stimulus measures could be put on hold as House Democrats begin processes to impeach US President Donald Trump, as he is accused of inciting an insurrection, following the violent attack on the Capitol by his supporters last week.

Meanwhile, Brad McMillan, chief investment officer at Commonwealth Financial Network in Waltham, Massachusetts, has noted that investors are worried about more attacks. According to a federal law enforcement source, the FBI has warned that there could be an armed protest for Washington, and across all 50 US states, in the run-up to Joe Biden’s inauguration on January 20.

However, the US Treasury bond yields soared as safe-haven assets came under pressure yesterday, with sectors like energy and finance gaining immense demand, while defensive bond proxy sectors like utilities and real estate plummeted.

Nonetheless, investors are still optimistic about additional stimulus measures in the US.

NDX – Hourly Chart

Nasdaq 100 (NDX) Value Forecast — January 12

NDX Major Bias: Bullish

Supply Levels: 13000, 13100, and 13200.

Demand Levels: 12900, 12793, and 12650.

The NDX fell yesterday after recording a new ATH at 13110 last week. This fall will likely serve as a correction for the index, albeit a fundamentally-induced decline. That said, the 12900 support has effectively repelled the attempt by bears to take the price lower.

We expect a bounce to the 13000, and possibly higher, once again in the coming hours.

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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.