nas100 loong nfpThe NASDAQ 100 index has pushed higher from the lows of last week, though it remains well below the highs seen in the second half of August at 19,950.
It has held trendline support from the August low, which formed with the low last week, and this may provide an underpinning for a move back to the 19,950 highs. Above this the index can then contemplate a move through 20,000 and then on towards the July record highs once more.
A close back below last Wednesday’s low at 19,080 would signal that the sellers have reasserted control. This could then see more losses in the direction of the 200-day simple moving average (SMA), currently 18,188.