Market Overview
The NASDAQ 100 finished the week strong, closing above 18,000 and holding above the critical 200-day SMA, signaling continued bullish momentum.
Technical Analysis
The index’s recovery from recent lows keeps the bulls in charge, with key targets at 19,000 and the late July high of 19,500. A close below 18,000, however, could indicate the start of a new downward trend.
Trading Strategy
Consider staying long while the index holds above 18,000, aiming for 19,000 or 19,500. Be cautious if it closes below 18,000, as this may suggest a potential sell-off.
