NAS100 has experienced a remarkable year, witnessing a 60% surge in the technology index. More notably, as the year draws to a close, it is hovering around the previous all-time high (ATH) zone.
Technically, following a false breakdown at the end of October, Nas100 displayed robust upward momentum.
Over the past three weeks, the index has been consolidating gains in the upper zone, awaiting a catalyst for a renewed upward push.
Dips within this consolidation phase are evidently being bought, and the anticipated Christmas rally is poised to propel the index to a new ATH.
I maintain a bullish outlook as long as 15,500 remains intact, and a target of 17,500 appears quite plausible within the context of the three-week consolidation and the mere 10% distance to the target.
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