September 27, 2023

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.
Please click here or the title below to read more.
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