Welcome to Extreme Investor Network, where we provide expert analysis and insights into the world of the stock market, trading, and Wall Street. Today, we are discussing the ongoing momentum in the Nasdaq 100 and why short term pullbacks may present buying opportunities.
The Nasdaq 100 has been on a steady climb, driven predominantly by a few key AI stocks. This concentration of gains in a handful of companies has led to a situation where any dips in the Nasdaq 100 are seen as opportunities for value hunting. As long as these few stocks continue to drive the market higher, we can expect the Nasdaq 100 to maintain its upward trajectory.
In terms of technical levels, the 20,000 level is a key area to watch. This level previously served as resistance and is now likely to act as support, given market memory. Therefore, any pullbacks towards this level could present attractive entry points for investors looking to capitalize on the market’s upward momentum.
At Extreme Investor Network, we advise against trying to short this market, as the prevailing trend is bullish. Instead, we recommend staying alert for potential buying opportunities on dips.
For a comprehensive overview of today’s economic events and how they may impact the market, be sure to check out our economic calendar. Stay informed and stay ahead of the curve with Extreme Investor Network.