FATE OF NASDAQ 100 DEPENDS ON JUST FIVE EARNINGS THIS WEEK, OIL FALLS ON ISRAEL ATTACK ON IRAN
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Fate Of Nasdaq 100
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that QQQ is in the resistance zone. As a reference, S&P 500 has broken out, but QQQ has lagged.
- QQQ is dominated by the Magnificent Seven stocks. Five of the Magnificent Seven stocks are reporting earnings this week: Alphabet (GOOG, GOOGL), Amazon (AMZN), Apple (AAPL), Meta (META), and Microsoft (MSFT).
- RSI on the chart shows that it is easy for QQQ to break out.
October 28, 2024