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US 100 Attempts A Bullish Reversal

The Nasdaq 100 rose as investors anticipate strong profit growth in the third quarter.

The break above 14930 has prompted sellers to cover their positions, alleviating the bearish pressure in the process. The tech index has then secured support around 14600.

A bullish close above the psychological level of 15000 would bring some much-needed confidence to the long side. Then the daily resistance at 15415 would be in the crosshair. Meanwhile, the RSI’s overbought situation may cause a limited pullback to 14900.

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