WILL TESLA’S GIANT MOVE HELP NASDAQ BREAK OUT?
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Nasdaq Breakout?
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows QQQ is in the resistance zone.
- The chart shows that QQQ moved up on giant Tesla (TSLA) earnings. Please see yesterday’s Morning Capsule for details on Tesla earnings. After earnings, Tesla added a giant gain of $150B to its market capitalization.
- Bulls are hoping that giant Tesla earnings combined with a potential short squeeze today will cause QQQ to breakout above the resistance zone.
October 25, 2024