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NASDAQ 100 Index Breaks Above 16,000 Points Again: Will It Hold?

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Written By: Abdullah Sarwar
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    Summary:
  • The NASDAQ 100 index has broken above 16,000 points once again. If this level holds, the outlook will flip extremely bullish.

The US equities are showing a mixed sentiment at the start of this week as investors await the key inflation data later this week. However, the NASDAQ 100 index gained 37 points as major tech players still managed to catch a bid as

On the other hand, the S&P 500 index was down a couple of points till press time as the broader market sentiment remained somewhat cautious. At press time, SPY and QQQ stood at 455.08 and 390.29, respectively.

The shares of some US retailers showed a positive price action today as the investor focus shifted to them amid Cyber Monday sales. Nevertheless, it is still not clear if the gains hold for the rest of this week.

On Monday, stocks of the major tech players like Nvidia, Amazon and Apple led the gains in the sector.

However, Meta and Netflix stocks faced a negative sentiment and were down, 0.28% and 0.12%, respectively till press time.

Daily Chart Of The NASDAQ 100 Index

All eyes are now on the bull’s ability to hold the 16,000 points level. If this level holds in the coming days, the Nasdaq 100 index forecast will turn bullish with a possible retest of the all-time highs around 16,795.

This post was last modified on Nov 27, 2023, 19:01 GMT 19:01

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.

Published by
Written By: Abdullah Sarwar