Nasdaq 100 kicks off the new session in the red

The US stock markets have just reopened and it has been a mixed start to the day and one where the Nasdaq 100 has just opened a little lower. The index closed last night at 20,287, with a gain of 107 points on the day. It has just reopened at 20,239. The reader is again reminded of the topside technical resistance level in place at 20,325. That is very much a level on the radar again today and please remember; a lower opening does not mean we will not get a swing higher later on. Within the context of still elevated volatility (albeit lower than it was last week) that is not necessarily a lasting directional call for the Nasdaq 100 today. However, if the Nasdaq 100 does get past 20,325 it is still very much a correctional phase higher at this stage and as such it can be halted at any time from here on. The index is right now trading at 20,245