Based on the current technical setup and the early-session price action (hovering around 25,571), the Nasdaq 100 is likely to close at 25,590.
The index is currently consolidating just below its previous close of 25,587. Given the light holiday volume and the historical tendency for "Santa Rally" momentum to keep prices stable or slightly positive, a flat-to-modestly higher close is the most probable outcome.
Regardless, I am still Bullish on the momentum, and the rationale are as such: 1.Santa Claus Rally Momentum: Markets often see a seasonal "drift" higher during the final week of December as tax-loss harvesting concludes and institutional "window dressing" takes place. 2.AI Growth Resilience: The index continues to be supported by "AI bigwigs" like Nvidia and Marvell Technology, which have shown strong momentum this week.
I’m looking at a defensive trade play to hedge my positions by entering into $Home Depot (HD.US)$ which is approaching a key support level of $338. Like what I always did , I will enter with a Diagonal Spread option , with a buy long call at $340, and a short call placed at $350.
The index is currently consolidating just below its previous close of 25,587. Given the light holiday volume and the historical tendency for "Santa Rally" momentum to keep prices stable or slightly positive, a flat-to-modestly higher close is the most probable outcome.
Regardless, I am still Bullish on the momentum, and the rationale are as such:
1.Santa Claus Rally Momentum: Markets often see a seasonal "drift" higher during the final week of December as tax-loss harvesting concludes and institutional "window dressing" takes place.
2.AI Growth Resilience: The index continues to be supported by "AI bigwigs" like Nvidia and Marvell Technology, which have shown strong momentum this week.
I’m looking at a defensive trade play to hedge my positions by entering into $Home Depot (HD.US)$ which is approaching a key support level of $338. Like what I always did , I will enter with a Diagonal Spread option , with a buy long call at $340, and a short call placed at $350.