Nasdaq 100 last week overview and next week forecast

Since the launch of artificial intelligence, Nasdaq 100 is skyrocketing. The Nasdaq100 index had been on a winning streak for the past weeks until Thursday, when the CPI data indicated a cooling in inflation. This should have triggered an increase in the index, but instead, it moved in the opposite direction and experienced a 2% decline. The chart shows that RSI was overbought terrority on monthly, weekly, and daily charts, and respective candles were out of its upper Bollinger band on monthly, weekly, and daily charts.



The market broke the rising trend and entered a correction phase because it was already overbought, and CPI data showed decreasing inflation, which results in bullish sentiment among investors. The PPI data was hotter than expected on Friday, but the index still recovered from the previous day's loss and ended on a positive note. The Nasdaq100 index probably will go down for two to three sessions as due to assassination attack on presidential candidate Donald Trump and already overbought condition and then it will move upward as the earning season is starting and mega-cap earnings are on the list next week, that will decide the next direction of the market.