Nasdaq 100 Nov 26 to Nov 30 Outlook
By News Robot
Lawrence’s Comment
Recap
A bounce was expected but not a huge rally like what we got last week. Somehow “good news” after “good news” were fed out during the holiday week to pop the indices higher. Obviously an attempt to boost the Black Friday weekend shopping season. NQ closed the week near week high, right below the open gap made in early November.
A bounce was expected but not a huge rally like what we got last week. Somehow “good news” after “good news” were fed out during the holiday week to pop the indices higher. Obviously an attempt to boost the Black Friday weekend shopping season. NQ closed the week near week high, right below the open gap made in early November.
Outlook
Looking for a top to form between B+1 to Y+2. If NQ is following its business cycle, it will start to top out from the end of this year to early next year. If the topping action is completed now, we will see an almost straight down decline in NQ until the end of this year.
NQ has always been bearish over last 2 months in Election year. I do not expect that will change.
Comments
LC, you wrote, “Obviously an attempt to boost the Black Friday weekend shopping season. ”
I question the worth of this observation. The people I saw fighting and shoving and threatening other shoppers looked like they were more likely to own guns and knives, doubtful that they were inspired to spend on Black Friday because the stock market went higher.
It is still the dominate belief among academics (well, economists) that a strong holiday shopping season will kick start the growth for the coming year. Not me who believe that. =)