The NASDAQ 100 continues to find buyers on dips, and despite Friday being “Witch Friday,” the market is actually still very bullish.

The NASDAQ 100 was very noisy during Thursday’s trading session as we saw the Federal Reserve shock the markets during the previous session, only to see “zero-day-to-expiry options” enter the picture and cause chaos at the end of the day Wednesday. Now it looks like the European Central Bank press conference has turned the market back again and the bullish trend continues as the US dollar takes a bit of a beating during the day.

Looking at the chart, the 15,250 level above is the previous high and I think that is the target before all is said and done. This is especially true given how quickly we turn things around during Thursday’s trading. However, there is something to watch out for on Friday, which is of course the “quad magic” that is about to happen. This is one for individual option classes that expires on the same day, and it will almost certainly cause a lot of volatility in the stock markets as a whole. For this reason, I would not jump into the market at this time, or if I was already in the market, I might consider the profit just a little bit coming to such a high profit.

• That’s not to say the market can’t go higher, just that the volatility will be so great that you’re probably better off waiting for a pullback to get long. On the downside, I think the 14,700 level should be a nice buying opportunity, just as a daily close above 15,250 means we are going even higher.
• However, the market has melted down so quickly that it’s hard to get overly excited at this point, so at this point it’s all about trying to find value, which is pretty much how you should be trading anyway.
• Deal hunting is a great way to lose money, and that’s why you shouldn’t do it.

Below that, we have the 14,000 level which will offer some psychological support, as well as the 50-day EMA near the 13,750 level. Needless to say, if we get there, it could either be of great value, or it could be a sign that things are looking up. changes.

Potential signal: The NASDAQ 100 continues to find buyers, and despite Friday being “Witching Friday,” the market remains very bullish. I would be willing to dip a toe in the water somewhere near 14,800 with a stop loss at 14,500, with the expectation that we will eventually break to the upside. It is clear that we are in a massive “meltdown”, even though the economic reality says otherwise. Until then, it’s a one-way trade.

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