- To kick off the trading session on Tuesday, we saw the Nasdaq 100 drift a bit lower, but quite frankly, gravity is no longer a thing, I believe, and as a result, the markets continue to look forward to the next bit of information, but continue to buy the Nasdaq in the process.
During the trading session on Wednesday, we have the ADP non-farm employment change numbers, which is the private employment figure, and then we have the ISM services PMI numbers coming out of America. So, both of those could move the markets. But it's obvious that it's a bullish market. There's no reason to get more complicated than that, and I think you have to believe that this is a market that eventually will get some type of significant pullback, but really at this point in time, I think that only offers quite a bit of value.
Economic Indicators and Market Drivers
The 30,000 level is an area that is significant not only from a headline value, but it's also an area that a lot of options traders probably will be paying attention to. Now, on Friday, we did get, or we will get, the employment figures, the official ones, and that obviously will have a major influence as well. But when you look at this Nasdaq 100 chart today, there's absolutely nothing here that says it's a short.
Top Regulated Brokers
When it pulls back, you have to look at it as an opportunity until things change. I mean, we're in the middle of a crisis in the Strait of Hormuz, inflation's high, I can give you 100 reasons—the interest rate rise would be one of them—for the market to drop, and yet, here we are. This is all about AI, and I think that continues to be the case.
Ready to trade our daily stock market forecast? Here are the best CFD stocks brokers to choose from.