Nasdaq-100 outlook for September 8, 2014

Nasdaq-100 consolidation between 4.050 and 4.100 including some day-to-day “noise” going on for two weeks in a row now. The trend is up on all time frames. Stop trailed up to @ 4.060 (spot index at close) for speculative long positions. It is likely that at some point the index retests the 4.000 points mark (the July high is there, too). Such a scenario would give the opportunity to “buy the dip”. As it seems now, this index wants to go a lot higher in the longer term.

NASDAQ-100, daily chart:

NDX_daily_20140905

Chart courtesy of StockCharts.com. http://stockcharts.com

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