US100 bullish bias intact above 17,709 [Video]
|The US100 maintains a bullish bias and it seems determined to approach and reach new highs. It’s located at 17771 at the time of writing. Fundamentally, the Unemployment Claims came in at 218K below 221K expected, while Final Wholesale Inventories rose by 0.4% as expected.
Technically, Nasdaq could resume its growth as long as it stays above the UML, lml, and above the 17709 immediate low. A new higher high, taking out the 17780 activates further growth. Only a new lower low confirms a corrective phase.
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