Tuesday, January 9, 2024

Nasdaq 100 - A Super Run with Interest Rates Cut?

Market had a super run last evening. So many stocks were grasping fresh air after a week of profit taking and heavy selling. It was such a straight forward and easy night. Look at the 5 min chart, it was one straight linear fashion up without any resistance as the buyers just kept taking higher prices to support the underlying stocks. It could be that the market is anticipating this coming Thursday CPI data and pricing in for a rally. I don't know the answer but I know I traded and made profits out of it. 

Ronnard - Market Psychologist - A Stock Market Opportunist