NASDAQ 100 bullish or bearish in May? stockmarkets stocktobuy
Enter your emailIn the bullish scenario for the month, I suspect that we continue to trade in the overall consolidation area that I see at the moment.
Inflation continues to be a major concern, and therefore the month of May might be a rather difficult trading. At the very least, I anticipate seeing a lot of volatility, and do not expect to see that go away anytime soon. In this scenario, I believe that we are going to continue to struggle for clarity.If we break down below the 12,500 level, then it is likely that the NASDAQ 100 will go looking to the 12,000 area underneath.
The more bullish scenario that I see is that economic numbers continue to slump as the GDP number has in the United States, suggesting that perhaps the Federal Reserve will be able to tighten as much as once thought. I do not think that is going to happen, because quite frankly the most important figure will be inflation. As long as inflation numbers are hot, the Federal Reserve is going to tighten and therefore dampen profits in the stock market.
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