$Nasdaq Composite Index (.IXIC.US)$ will close at 23550 on 23th December. The trend will be bullish attribute to Santa Rally effect. Historically, the last 5 trading days of December and first 2 days of January show average positive moving average Technical indicators showed that MA 20 crossed above MA 120 which is golden cross and RSI below 80 which signified there is still room for upward trend before it reversed. I will hold existing position due to near term bullish term. I will watch closely the index as I remember that last year Santa Rally did not end with sharp rally. Sometimes Santa Rally did not happen as the seasonality is not strong enough to overpower broader factors like liquidity and macro expectations.
I will hold existing position due to near term bullish term. I will watch closely the index as I remember that last year Santa Rally did not end with sharp rally. Sometimes Santa Rally did not happen as the seasonality is not strong enough to overpower broader factors like liquidity and macro expectations.