Nasdaq 100 Remains Relentless in Its Bullishnes


The US stock markets traded on a mixed sentiment yesterday as the Nasdaq 100 (NDX) continued to scale higher hurdles while the Dow Industrials (DJIA) dragged behind. Many sectors in the S&P 500 index (SPX) traded lower, with the energy sector leading in losses while healthcare rose with the trend.

However, the SPX has rounded off August with its best performance since April. The index grew by more than 7%, snapping multiple all-time highs along the way.

Meanwhile, Apple Inc (NASDAQ: APPL) and Tesla (NASDAQ: TSLA) led the way with gains after the companies’ stock split went into effect yesterday. Tesla gained more than 12% as investors continue to jostle for the electric vehicle manufacturers’ shares.

Market participants will be looking at the ISM data, set for release later today, for clues to how the US economy performed in August. Also, the Labor Department will be reporting the highly-coveted non-farm payroll report on Friday.

Meanwhile, Fed Vice Chair, Clarida, went on record to say that the Federal Reserve will not raise interest rates simply because the unemployment rate was dropping. Despite the heavy bullishness seen in the NDX and SPX, the VIX volatility index etched back above the 25% level, which is indicative of some nervousness in the market and a potential reversal in September.

NDX – 4-Hour Chart

Nasdaq 100 (NDX) Value Forecast — September 1

NDX Major Bias: Bullish

Supply Levels: 12190, 12270, and 11735.

Demand Levels: 12000, 11890, and 11650.

Nasdaq 100 remains in a strong bullish trend in our ascending channel. We appear to be approaching key resistance at 12400. Failure to clear that resistance could send us back to the 11890 supply level in the near-term.

Meanwhile, based on our MACD indicator, we’re currently in overbought conditions and a slight retrace might be underway.

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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.