Short
NASDAQ 100 forecast w/c 25 October 2021
NASDAQ pulled back a bit on Friday afternoon, which is a good thing. I expect the market to go down to 15100 - 15070 max, that will help to gain momentum to reach 16000 level. We are in the middle of earning season, on Tuesday 26th big players like Facebook and Alphabet will announce their financial results for Q3. They did very well in Q2, I don't see a reason why they don't do well now.
Facebook dropped few percent last week, I believe it's just temporary and Q3 earnings will help it bounce back up.
On the other hand, I don't think we will see NASDAQ to reach higher that 16200. We've just started Q4, governments are discussing possible restrictions due to rising covid cases, so I would have it in mind. The risks of inflation and raising rates are hanging in the air.
In the long term in January 2022 we can expect major correction.
Facebook dropped few percent last week, I believe it's just temporary and Q3 earnings will help it bounce back up.
On the other hand, I don't think we will see NASDAQ to reach higher that 16200. We've just started Q4, governments are discussing possible restrictions due to rising covid cases, so I would have it in mind. The risks of inflation and raising rates are hanging in the air.
In the long term in January 2022 we can expect major correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.