US 100 Cash CFDLong
NAS100 - a momo juggernaut targeting 13,800
The NAS100 has rallied 12.5% since the 13 March low, and while starting to look overbought, momentum is clearly strong. The closing break of the bull flag and 12,893 horizontal resistance offers a technical target of 13,800. Price is bull trending and hugging the upper Bollinger Band, with pullbacks contained to the 5-day EMA. Fundamentally, if capital continues to flow into US treasuries and yields – both nominal and real – are grinding lower, then growth stocks and mega-cap tech should outperform. A weaker US non-farm payrolls this Friday and further concerns around the US banks that keep rate cuts priced for 2023 would be a bullish catalyst.
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