HOLIDAY WEEK LOW LIQUIDITY HELPING PUSH STOCKS HIGHER IN SPITE OF RISING CHINA CONCERNS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Low Liquidity
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that the stock market is consolidating in no man’s land in between zones marked as support/resistance zone and resistance zone.
- Momo gurus are pumping the narrative that there will be a sharp break to the upside from the consolidation.
- RSI on the chart shows the market is slightly over bought, but the pattern is that of a rally.
- This is a holiday week.
November 22, 2022