Skip to main content

What chance 18k or above today for the Nasdaq 100?

The above title asks the question and right now the odds of the Nasdaq 100 trading at, or above 18k at some point today would seem pretty favourable. That is not to say it will though, but the price action so far in the Nasdaq 100 futures has shown little sign of yet backing off. The index closed on Friday at 17,962, after reaching a new all time high at 17,987. Technically, the index is not oversold (current 14 day RSI at around 70 as of the close on Friday) and that does infer there is still upside in the tank. Of course we are in uncharted territory again at the start of the new week, but at the same time, the failure of higher US yields to negatively impact the index has been a standout feature of recent days. As also noted here earlier today, it was not a big tech gain that really led the index higher on Friday. It was more broad-based than that. Come 2.30pm GMT then, we might see whether the index can rise above 18k for the first time ever. Right now the Nasdaq 100 futures are little changed from earlier this morning, in respect of the opening call, currently at around 17,965 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!