Dow Jones, Russell 2000, Nasdaq 100 Value Forecast:The week opened with a bang on constructive information of a breakthrough with
Dow Jones, Russell 2000, Nasdaq 100 Value Forecast:
- The week opened with a bang on constructive information of a breakthrough within the hunt for a Covid vaccine.
- The Dow jumped as much as a recent all-time-high, and the Russell 2000 isn’t far behind as consumers proceed to drive in small caps.
- Curiously, the Nasdaq 100 has been on its heels thus far this week, testing an enormous zone of potential assist. The Nasdaq was the high-flyer from the March lows, leaping by as a lot as 88%. Why would the tech-heavy index be lagging now that there’s constructive information on the horizon?
- The evaluation on this article closely makes use of value motion and chart patterns. To study extra about price motion, try our DailyFX Education part, the place it’s taught amongst a number of different candlestick patterns and formations.
It’s been a brutal stretch within the headlines this yr, and maybe even extra so over the previous month because the US Presidential Election dominated the airwaves. However yesterday produced one thing of a constructive observe as information circulated that Pfizer’s vaccine candidate is at the moment displaying a 90% efficacy price.
The timing of the announcement, nevertheless, is considerably curious, because the examine being quoted isn’t even completed but. And given the timeline of Covid infections, the early stage of these outcomes is considerably questionable and really a lot out of the norm…