August 30, 2023

By Nigam Arora & Dr. Natasha Arora

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

iPhone 15

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

Note the following:

• The chart shows that QQQ has moved decisively above the downward sloping trendline.
• The chart shows that RSI has quickly gone from oversold to overbought.
• Both of the foregoing are bullish behaviors.
• In yesterday’s Afternoon Capsule, we shared with you two new negative data points for the economy.  We wrote:

The chart shows when consumer confidence and the JOLTS report were released.

• Consumer confidence came at 106.1 vs.