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Nasdaq 100: Uptrend Intact – UBS Column

Review: The Nasdaq 100 index has been on an upward trend for years. Sharper downward corrections were absorbed by the 200 EMA in the weekly chart at the latest, before the index then turned up again and continued to follow the upward trend. Short-term corrections in the daily chart usually ended in the area of ​​the 50 EMA. Prices above the 50’s EMA are bullish, prices below that are more bearish. In the previous days, the Nasdaq 100 managed to break through the massive resistance range of 12,450 / 12,550 points. The day before, the Nasdaq 100 went out of trading at 12,770 points and is only just below the all-time high of 12,793 points.

Outlook: As long as the Nasdaq 100 no longer slides back below the resistance range at 12,550 points, prices can be expected to continue to rise.

The long scenarios: The Nasdaq 100 can hold its ground above the resistance area and continue to gain. The bulls’ first target would then be at the all-time high of 12,793 points. If the breakthrough succeeds here, the mark of 12,800 points would be the next target. In the medium term, however, the bulls will probably have the round mark of 13,000 points in their sights.

The short scenarios: The Nasdaq 100 can no longer exceed the all-time high of 12,793 points and has already slipped back down. If the bears then manage to slide below the 12,450 / 12,550 point range, a return to the 50 EMA in the daily chart at currently 12,109 points would be expected. Only with a sustained breakthrough below the 50 EMA would the situation for the Nasdaq 100 deteriorate significantly again and a price slide up to the 200 EMA at currently 10,824 points would be expected.

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With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
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