Nasdaq 100
Nasdaq 100: 2461.69
Short-Term Trend: uptrend
Outlook:
The Nasdaq 100 market remains quite strong as the prices have moved abv the 2460 level. The next upside target is 2545 and I am pretty confident this level will be reached next month. But first, we may see a pullback because the market is overextended on the upside. A decline below 2420 will be a clear sign that wave A has likely ended and a pullback twd 2360 will be expected....
Strategy: Holding long from 2360 is favored. Stop=2420. Target=2540.
S&P500
S&P500:
1316.63
Short-Term Trend: uptrend
Outlook:
The daily chart remains quite positive but we have to admit that the move up from the mid-December low looks extended. A decline below 1305 will likely confirm that wave A up i over and further weakness twd 1280/65 will be expected. But objectively, as long as 1305 support holds, the bulls are in control and gaind twd the 1378 level are favored...
Strategy: Holding long from 1267 is favored. Stop=below 1305. Target=1400