NASDAQ 100 Week ahead bullish? ๐
Hello, good day traders! ๐๐ค
I'm looking for a potentialย buy ๐setup for $NASDAQ 100 Index(.NDX.US$ย , with both fundamental and technical indicators to back it up.
๐ฐFundamentally,
Stocks End Winning Week With Rate Outlook in Focus
The S&P 500 wavered for most of Fridayโs shortened trading session. But its weekly gain of 1.5% took the index to the highest level since early September.
The Nasdaq 100 also eked out a gain for the week, despite dropping on Friday. Most Treasuries erased early losses.
Sentiment was boosted this week after the Federal Reserveโs Nov. 1-2 meeting minutes showed most officials backing slowing the pace of interest-rate hikes.
Since the Fedโs latest meeting, investors have parsed a bevy of economic data that somewhat eased inflation concerns, further strengthening the case for smaller rate hikes
๐คOn the technical front,
1.) Looking at the H4 chart, looking for a buy entry at 11710.26, where the 38.2% Fibonacci line is located.
2.) I've set a fairly safe stop loss at 11037.21, slightly below where the 23.6% Fibonacci line and previous swing low is located.
3.) I intend to take a profit at 12897.63, slightly below where the 78.6% Fibonacci line is located.
Trade Entry recommendations:
Buy Entry: 11710.26๐
Take Profit: 12897.63 ๐ฒ
Stop Loss: 12164.90โ
Other tickers to recommend:
![NASDAQ 100 Week ahead bullish? ๐](https://sgsnsimg.moomoo.com/102218606/editor_image/7ece8759c00739ef92bb20a8f9310a4a.png/bigmoo)
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whqqq : I like your suggestion. Thank you for your work.![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)