3 minsNASDAQ (NDX):
NASDAQ has surged rapidly following the Federal Reserve’s decision to cut interest rates last week. Since the announcement, the index has already gained more than 5%, reflecting strong upward momentum. Currently, it is trading above the $20,000 mark and appears to be setting its sights on the all-time high (ATH) of approximately $26,690. This rally underscores the market’s positive reaction to the Fed’s policy shift, with traders eyeing further gains in the near term.
Taking a deeper look into the technicals, it can be seen that ever since the price broke above this descending trendline, it has been steadily climbing. The RSI indicator currently suggests no signs of the market entering “overbought” territory, indicating that the recent gains may still have room to run. It will be interesting to see if this upward momentum continues, potentially leading to new all-time highs (ATH) in the coming months.
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