NASDAQ-100 Daily Forecast Dec 11 2014

Nasdaq1
Nasdaq1

Outlook in NASDAQ-100 index has turned to the downside as long as 4296 resistance holds on a daily closing basis , support comes at the 4217 levels , below this level will open 4182 levels ,a halt is likely , but a cut would open 4138 next , further down will aim the 4089 levels .

On the upside , a failure to hold below the 4217 levels on a daily closing basis could mean a return to the 4296 levels , a halt is likely , but a breach will recapture the 4345 levels .If this resistance is taken out , expect the pair to strengthen further towards the 4370 levels , further gains will pave the way towards the 4400 levels ahead of the 4440 levels.

In all , as long as 4296 resistance holds on a daily closing basis , outlook  in NASDAQ-100 index remains on the downside towards the 4182/4138 levels , above 4296 will reverse risk towards the 4345/4370 levels .

In the medium term forecast , the pair is bullish as long as support 4250 holds on a weekly closing basis , resistance comes at the 4390 levels ahead of the 4485 levels , below 4250 will bring pullback towards the 4132/4036 levels before the next rise.Note that long term forecast will remains bullish above 4036 levels.

 

NASDAQ-100 Daily Forecast Dec 11 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS