Asset Watch
Tuesday, March 19, 2024
With investors overwhelmingly bullish, a shock event could reverse this sentiment and cause index drawdowns. Therefore, a couple of key NASDAQ 100 levels should be on your radar.
The November 2021 high near 16,765 is initial support, and further strength should emerge around the 10-month MA (near 16,133). It held throughout the 2020/2021 bull run and acted as support in October/November 2023, which makes the outlook positive as long as the NASDAQ 100 trades above it.
So, is volatility about to strike, or will Big Tech showcase its invincibility once again?