The Nasdaq 100 contracts surpass 15,000 pts, which is a new all-time high. Thus, all losses from the end of the previous week and the beginning of the current one were neutralized. However, the increase since the beginning of the month is not overwhelming and amounts to approx. 3%, while from the local lows upward move reached approx. 4%. It is worth noting that theoretically the index is trying to test the bottom limit of the upward trend channel, from which the breakout occurred earlier. Another potential target is located around 15250 pts and is marked with the 200.0 retracement of the previous large correction from the beginning of Q2. Next week, the quarterly results of companies such as Tesla, Apple, Google and Amazon may significantly affect the index performance.
Theoretically, the resistance in the form of the lower limit of the upward trend channel is being tested currently. Source: xStation5
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