NASDAQ 100 with ongoing strength (23.08.2021)
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NASDAQ 100 rising and rising and rising..
NASDAQ 100 unchained! What an incredible run this index had during the last weeks.
Some people have been worried about this leading tech index because the FED might announce the end of the money floods during the upcoming days.
Despite the upcoming event risk, the index is going upwards, marking a signal of strength.
If you like technical analysis, you might find the current chart appealing aswell.
But what does the market breadth data for Nasdaq 100 tell us?
Market Breadth Data for Nasdaq 100, taken from https://www.advance-decline.net
Advanced vs. Declined reached a positive extreme today, so there is a high chance that the index will have only small or no advances during the next trading day at all. The Advance Decline Line for NASDAQ 100 shows no divergence.
The McClellan Oscillator for NASDAQ 100 crossed the zero line today, which provides a buy signal for all cyclical traders with a short-term scope.
The McClellan Summation Index for NASDAQ 100 formed a bottom and is expected to rise during the upcoming trading days (well, at least that is what we hope for, right?). This would be a buy signal for anti-cyclical traders with a long-term scope.
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