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NASDAQ Leads the Market With 6 Day Streak

Written By: ChartChamp

July 9, 2024

Big tech continue to dominate the financial markets, which is helping the NASDAQ rally. The NASDAQ has rallied for 6 consecutive days as we await Powell’s testimony and June inflation data. As I discussed yesterday, the forecast looks very bullish for June CPI and PPI data. This is the lowest inflation forecast in 5 months, and if the actual data comes in better than expected this will be perceived as a very bullish sign. QQQ continues to trend up to the yellow trendline, and I have $569 as a key longer term target for this rally.

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