Nasdaq-100 outlook for November 10, 2014

Nasdaq-100 remains at multiyear highs. A correction to 4.100, which is the September high, may take place shortly and provide major support where the index can then bounce from in order to mark new highs. There is no indication of shorting the index yet even though it seems to be technically “overbought”.

NASDAQ-100, daily chart:

NQ 100 Futures(Daily)20141108124643

Chart courtesy of Investing.com. http://investing.com

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