Nasdaq 100 sees important resistance into the key 20’000 mark | MarketTalk: What’s up today? | Swissquote

Show notes

The Swiss National Bank (SNB) cut its rate by another 25bp yesterday, the franc fell and the SMI rallied. The Bank of England (BoE) kept rates unchanged but the dovish accompanying statement send sterling lower and the FTSE 100 higher. On the continental Europe, a healthy sale of French government bonds help lifting French-darkened mood.
In the US however, the softer-than-expected economic data didn’t see improved appetite from the Fed doves. The fact that the Nasdaq 100 is near an important psychological level has to do with the latest reluctance to continue buying the tech-heavy US indices at overstretched valuations.
Today, it’s the triple witching day, about $5.5 trillion index futures, options, stock options and ETFs will expire at the same time. Given that we are at psychologically crucial, irrationally high, and mathematically overstretched levels, we could see surprise turns and twists in positioning.
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