While I’m not a fan of owning the stock right now because I honestly don’t think the economics justify it, short-term trading may be bullish even in tech stocks, even if interest rates are exceptionally high compared to last time. 1 years. , The NASDAQ 100 rose slightly in futures Thursday in what would be very weak and limited trading. After all, it was Thanksgiving in the US, but you only have to look at the events of the last two weeks to see that something might change, at least soon. Advertisement Test your technical skills now! OPEN A FREE DEMO ACCOUNT Now you can argue for a rising flag and very little work has been done against this theory. The 50-day EMA is just below the flag, so it should provide some support near the 11,500 level. While I’m not a fan of owning the stock right now because I honestly don’t think the economics justify it, short-term trading may be bullish even in tech stocks, even if interest rates are exceptionally high compared to last time. 1 years. The uptrend is limited Looking at this chart, you can see that the 12,000 level has provided major resistance, so if we can break above that, we can probably extend the 200-day EMA. , which is near the 12,500 level. On the other hand, a reversal and break below the 11,500 level would see the NASDAQ 100 fall, possibly to the 11,000 level. Remember that Wednesday’s FOMC meeting minutes were released and many traders read that the Fed may slow rates. There are many questions about where US interest rates will go next, but right now people are betting on just 50 basis points in December and possibly holding steady after that. It’s because of this that I think the upside is probably somewhat limited, because it’s likely that Jerome Powell will continue to sound as dovish as possible, and that may be reason enough to start shorting again. All things being equal, this is a market that looks to have a short-term rebound, but I don’t know if I’d stick with it because we’re going to have a tough economic situation ahead, but some traders are. starting to bet. that perhaps the market has already priced in the entire recession.