WINDOW DRESSING AND RARE GOOD DATA FROM CHINA BRINGING IN BUYERS IN THE STOCK MARKET
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Buyers Coming In
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that the last time QQQ bounced from the mini support zone, the high fell short of the low band of the top resistance zone. This is a negative.
- Now, QQQ is back to the top band of the mini support zone.
- RSI on the chart shows QQQ is oversold. Oversold markets tend to bounce and this is exactly what is happening in the early trade.
September 27, 2023