Nasdaq rallies from 13k, volumes suggest there’s more to follow

Close-up of stock market board
Matt Simpson financial analyst
By : ,  Market Analyst
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  • Wall Street was broadly higher yesterday, and it was tech stocks which took the lead with the Nasdaq 100 rising 3.7%.
  • 94 of its 100 stocks advanced, the top seven of which rose over 12% and the top three over 39%.
  • Pinduoduo (56.1%) was the top performer, followed by JD.com (39.4%) and Baidu (39.2%).
  • China’s promise to “substantially” boost economic growth yesterday played a large part in their success and they promptly followed Chinese indices higher.

In today’s video we catch up on the Nasdaq 100 index on the weekly and daily charts, and take a closer look at various trading volume metrics to build a case for a swing low.

Nasdaq 100 trading guide>

 

 

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