Nasdaq at annual high: rally over or bear trap? Analysis and forecast for the tech index.

Nasdaq at annual high: rally over or bear trap? Analysis and forecast for the tech index.

According to a report from finanzmarktwelt.de, Wall Street is in fantastic shape in November, and the Nasdaq tech index is already 43% higher than last year. The markets are expecting various interest rate cuts and a soft landing of the economy, which means they are betting on a so-called Goldilocks scenario. The rise on Wall Street was largely driven by interest rate euphoria, with the market expecting four cuts by the end of 2024.

The future of the Nasdaq will now be determined by a possible chart pattern that may indicate a rally pause or consolidation. If the Nasdaq sustainably overcomes the high of 16,045 points, it could continue its rise towards the all-time high. On the other hand, there could be further levies if the Nasdaq falls below 15,800 points.

Nasdaq fluctuations have the potential to greatly impact the entire market as well as the consumer. A pause in the rally or consolidation could depress sentiment in the tech industry and quickly turn the tide. However, if market participants speculate on an increase, the stock markets could remain optimistic.

It remains to be seen how the situation will develop, as the future of the exchange depends on numerous economic and geopolitical factors. Therefore, investors and market participants should be vigilant and prepare to respond to possible changes.