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By Kelvin Wong
In the past two weeks, the Nasdaq 100 CFD (a proxy of Nasdaq 100 E-mini futures) has staged a decline of 6.2% from its all-time intraday high of 20,792 printed on 11 July to an intraday low of 19,501on last
Nasdaq 100: Potential Bullish Reversal Looms Ahead Of Alphabet And Tesla Earnings Results
Summary
- Market breadth indicators (% of component stocks above 20-day & 50-day moving averages) have increased to above 50%.
- Short-term bullish momentum condition sighted at the retest of its 50-day moving average.
- Watch the 19,520 key short-term support ahead of a risk event; the earnings results of Alphabet & Tesla after today’s US session close.
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.