August 29, 2023

By Nigam Arora & Dr. Natasha Arora

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

Important Data Ahead

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

Note the following:

• The chart shows that Nasdaq 100 has pulled back after touching the low band of the resistance zone.
• The chart shows that the stock market is consolidating around the downward sloping trendline.
• The chart shows that RSI is neither overbought nor oversold.
• In The Arora Report analysis, from a technical perspective, the stock market is positioned such that it is waiting for the new economic data that is ahead.