December 28, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Tax Loss Selling

Please click here for a chart of  Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows that QQQ has dropped into the support/resistance zone.
• The chart shows that the October low of the year is not far away.
• The chart shows that RSI is very oversold.
• The chart shows that the volume has not been high during the recent selloff.
• The sum total of the foregoing is that from a traditional technical analysis perspective, the stock market is positioned to bounce.