As the US index futures remain stable, all eyes are on the Nasdaq 100’s rally, which hinges on breaking key resistance around 19730 to confirm bullish momentum. A decisive move above this level would solidify the recent bullish signal ahead of Apple and Amazon earnings. However, key support lies around 19320, and falling below this could challenge the bullish case.
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Analysis:
The recent tech-fuelled rally, led by Nvidia’s impressive gains, has set the stage for a crucial period in the market. With Apple and Amazon set to report quarterly results, investors are closely watching for any signs of strength or weakness in the tech sector.
While Nvidia’s surge has been a highlight, the key lies in whether the bullish momentum can be sustained. Apple and Amazon’s earnings will be critical in determining the market direction, especially with high expectations from the so-called “Magnificent 7” group of stocks.
Overall, the Nasdaq 100’s technical analysis suggests a bullish trend, but a decisive break above key resistance levels is needed for confirmation. Conversely, a drop below key support could challenge the bullish case. Investors should stay vigilant and monitor these levels closely to make informed decisions about their portfolios.
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Analysis:
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