Another 5% upside potential

March 31, 2017 12:10 PM

Today I focus on the Nasdaq 100. The NQ has been very strong (with the other indices) and I believe there is more upside. My hunch is that with society being driven more and more by technology, the world's investors will focus on being overweight technology companies. The NQ index is a great way to do that. I see another 5% upside potential in this index.
Chart attached.

Gold had a nice downturn yesterday, failing at a key area/level on the weekly chart, but is up slightly today. My thesis on gold is that it is headed much lower on a monthly basis. I think it will get below $1,200 this year.

Oil products had a powerful rally yesterday, even in the face of rising inventory numbers this week. The daily technicals are mixed, indicating a potential range-trade.


About the Author