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The NASDAQ 100 has gapped higher to kick off the trading session on Thursday, reaching towards the 8000 level above
The S&P 500 continues to struggle overall, as although we haven’t broken down, we simply can’t get anywhere to the upside.
The NASDAQ 100 initially pulled back in trading on Wednesday, testing the 50-day EMA.
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As we have seen time and time again, the 8000 level has offered quite a bit of bearish pressure, and as a result we have sold off pretty drastically during the day.
The S&P 500 initially tried to rally during the trading session on Tuesday but did pull back enough to show signs of exhaustion yet again at the highs.
The S&P 500 has rallied quite nicely during the trading session, forming an outside candlestick.
The NASDAQ 100 had a bullish session during the training session on Monday to kick out the week, but as you can see, we are still below the crucial 8000 level.
The S&P 500 initially fell during trading on Friday, as traders headed towards the weekend.
The NASDAQ 100 has fallen a bit during the trading session but did find enough buyers later in the day to turn things around.
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The NASDAQ 100 has gone back and forth during the trading session on Thursday, trying to break above the 8000 level which of course has a significant amount of resistance at it.
The S&P 500 is going to continue to rally towards the upside but overall it’s likely that there is a lot of resistance extending to the 3025 level.
The natural order of things is that we continue to test resistance, and the NASDAQ 100 level has shown this scenario again.
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Sign up to get the latest market updates and free signals directly to your inbox.The S&P 500 has fallen just a bit during the trading session on Wednesday, reaching towards the 3000 handle.
The S&P 500 rocketed to the upside during the trading session on Tuesday as banks reported solid earnings ahead of the bell. By doing so, the market tested the 3000 level, an area that of course causes a certain amount of psychological and structural resistance.
The NASDAQ 100 had a very bullish session during the day on Tuesday, breaking above the recent highs from the last couple of sessions, wiping out some sellers.