Nasdaq 100

The Nasdaq 100 fell significantly during the trading session on Wednesday, but turned around to form a hammer. By forming a hammer, we ended up showing signs of bullish pressure, and I think this shows that dips continue to offer value. I believe that the market should continue to be noisy and choppy, but positive over the longer term. I believe that the “floor” in the Nasdaq 100 is the 6500 level, so I don't have any interest in trying to sell until we break down below that level at the very least. Longer-term, I fully anticipate seeing this market going to the 6700 level, and then much higher than that. The Nasdaq 100 is a bit overbought though, so I would love to see a pullback as it offers value in a market that I think will continue to attract a lot of attention.