2024-07-24 02:55:00 ET
Summary
- Market breadth indicators (% of component stocks above 20-day & 50-day moving averages) have increased to above 50%.
- Short-term bullish momentum condition sighted at the retest of its 50-day moving average.
- Watch the 19,520 key short-term support ahead of a risk event; the earnings results of Alphabet & Tesla after today’s US session close.
By Kelvin Wong
In the past two weeks, the Nasdaq 100 CFD (a proxy of Nasdaq 100 E-mini futures) has staged a decline of 6.2% from its all-time intraday high of 20,792 printed on 11 July to an intraday low of 19,501on last Friday, 19 July....
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Nasdaq 100: Potential Bullish Reversal Looms Ahead Of Alphabet And Tesla Earnings Results