Nasdaq attacking all-time highs

03/02/2021

It has been a very good week for the Nasdaq 100 index so far and it was trading 0.3% stronger during the US session on Wednesday.

The next resistance is at the current all-time highs of 13,600 USD but it looks like the market has enough momentum to jump above that level. Another target could be at 14,000 USD, which might be reached by the end of the week. 

Alternatively, the support could be at 13,400 USD, with the major uptrend line currently located at around 13,050 USD.

The Nasdaq 100 continues higher in its bubble melt-up phase, which might even accelerate as more and more traders will jump in. The euphoric rally could end any day, but as long as the Fed and governments will continue to print trillions, stocks will most likely only go up. 
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