Don’t fight the Nasdaq 100…trend still your friend

Stocks on Thursday reacted to Wednesday’s latest dovish FOMC musings much as they have in recent years — namely, they ramped higher. The Nasdaq Composite as a result surpassed its previous all-time highs from May 19 and thus continues to trend higher.

However, the Nasdaq-100 — as represented by the PowerShares QQQ Trust, Series 1 (ETF)(QQQ) — clearly is pushing higher, but it still trades below its all-time highs from the year 2000, which traders can use as an upside target.

Read my full analysis HERE



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