News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • (Weekly Outlook) Australian Dollar Outlook: AUD/USD Divergence With Wall Street Risks Continuing #AUD $AUDUSD #Fed #Stocks
  • The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline. Get your market update from @ddubrovskyFX here:
  • EUR/USD has been looking toppy since late May as bearish technical signals played out. But, rising Euro short bets from retail traders hint that the currency may hold its footing. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen may rise as retail investors increase their long exposure in pairs like USD/JPY and EUR/JPY. Will these pairs turn lower? What are key levels to watch for? Find out from @ddubrovskyFX here:
Nasdaq 100 Forecast: Bears Battle Retail Traders as Tech Earnings Arrive

Nasdaq 100 Forecast: Bears Battle Retail Traders as Tech Earnings Arrive

Peter Hanks, Strategist

Nasdaq 100 Price Outlook:


Nasdaq 100 Forecast: Bears Battle Retail Traders as Tech Earnings Arrive

The Nasdaq 100 fell to its lowest level since January 19 after a Federal Open Market Committee meeting seemingly undermined market sentiment that was already fragile. Earnings from Apple, Facebook and Tesla were heralded as potential revivers of sentiment, but their performances in the immediate aftermath of their reports could suggest sentiment has already been dealt a fatal blow in the near-term.

Apple Earnings

The largest component of the S&P 500 and Nasdaq 100, Apple, surpassed the considerable expectations investors maintain for the tech giant, beating on both top and bottom lines. Likely due to the sour attitude prevalent in the broader market prior to the Wednesday close, AAPL shares fell modestly following the release of the quarterly report. Still, the company’s stock trades tantalizingly close to its all-time high and the report offers an encouraging checkup for shareholders.

Facebook Earnings

The social media platform also offered a beat across the board, enjoying strong revenue, earnings per share and daily active users. Shares still declined, however, as the company suspects significant ad-targeting headwinds in 2021. At the time of writing, FB shares had fallen -7% before paring losses to trade nearly flat in the after-hours session.

Tesla Earnings

Tesla posted a divided quarterly report, boasting revenues above estimates but falling short on earnings per share. Like Facebook and Apple, TSLA shares pulled back in the wake of the announcement. Given the unprecedented rise in Tesla’s stock price, it could be argued the company had to meet the highest expectations. Thus, losses following a divided report with an underwhelming update on its roadmap for the future are well within reason in my opinion.

Mania on the Mind

While the FOMC rate decision and big-ticket earnings are key drivers of broader market performance and sentiment, much of the finance world remains enamored with single-stock names like GameStop (GME), AMC (AMC), AMC Networks (AMCX), BlackBerry (BB), Bed Bath and Beyond (BBBY), and other stocks with high short interest.

The rapid ascent of these names remains an intriguing story of the market that will undoubtedly appear in finance history books of the future. Regardless, the battle between retail traders and hedge funds might continue in the days ahead even as indices endure their largest single-day loss since October.

That being said, even the hoards of Reddit-based retail traders will have a difficult time fighting declines in the broader indices so price action may turn increasingly volatile as the VIX jumps above 37 with one of its largest single-day gains ever.

Nasdaq 100 Technical Outlook

Weakness has seen the Nasdaq 100 seek support from a series of rising trendlines. Initial support resides along the trendline from early November, currently around 13,030, but its proximity to price could see it easily broken. Subsequent support might be derived from the psychological 13,000 mark followed by the Fibonacci level around 12,950 which has influenced price throughout January. Since all three of these levels were pierced in Wednesday trading, they might see their influence reduced.

Nasdaq 100 Price Chart: 4 - Hour Time Frame (October 2020 – January 2021)

nasdaq 100 price chart

Should declines continue in earnest, prior swing-highs may serve as areas of buoyancy, while a line in the sand may exist around 12,400 to 12,460 which coincides with the November peak. A breach beneath this level could open the door to steeper losses and a deeper pullback for the Nasdaq 100 index. Either way, the recent uptick in volatility could see price swing wildly between the different technical levels in the coming sessions. Follow @PeterHanksFX on Twitter for updates and analysis.

--Written by Peter Hanks, Strategist for

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.