Nasdaq 100: Tech Recovery May Keep Uptrend Intact Well Into US Election, Earnings

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Nasdaq 100 News

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Stocks Analysis by Fawad Razaqzada covering: Nasdaq 100. Read Fawad Razaqzada's latest article on Investing.com

Maintaining vigilance around pivotal price points will help navigate the Nasdaq 100’s bullish trend amid looming risks.After Tuesday's drop, the markets stabilized on Wednesday in a quiet trade and now US equity futures are making a comeback attempt during the first half of Thursday’s session. This is despite continued weakness in China, where the government’s latest attempt to shore up the property market, failed to lift sentiment.), which had also sparked some concern.

However, as mentioned, we know that anything can happen at any moment. It's crucial, therefore, to keep an eye on the charts for signs of a reversal. A break of key support levels could signal an opportunity to step aside or even go short if the trend shifts.If the market reverses today for whatever reason and turns lower, then that could be the first sign of trouble, particularly after Tuesday’s bearish close.

But let’s not jump the gun. For now, it’s all about watching those key support levels and seeing if the bulls can keep control of the market. If they do, the uptrend remains intact. If not, we now know exactly what to look for.If you can’t trade index futures or derivatives, then consider an exchange traded fund such as QQQ, which is an index fund offered by Invesco that mimics the returns of theWhile the Nasdaq 100 has had an impressive run, caution is key as we head toward the US election.

 

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