NASDAQ 100 Week ahead bullish? 📈

Hello, good day traders! 👋🤙

📰Fundamentally,

Stocks End Winning Week With Rate Outlook in Focus

The S&P 500 wavered for most of Friday’s 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 Reserve’s Nov. 1-2 meeting minutes showed most officials backing slowing the pace of interest-rate hikes.

Since the Fed’s latest meeting, investors have parsed a bevy of economic data that somewhat eased inflation concerns, further strengthening the case for smaller rate hikes

🤔On 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.

Buy Entry: 11710.26📈

Take Profit: 12897.63 💲

Stop Loss: 12164.90❌