After the Fed’s comments in support of the US economy and the transitory nature of the recent inflation, the NASDAQ rallied to new all-time highs and closed at $15,167.75 on August 5, 2021. If the markets fall back into the “melt-higher” mode as we move away from Q2:2021 earnings, we may be setting up for a moderately big rally phase targeting $15,400 or higher in the NQ.
GLOBAL TRADERS CONTINUE TO BANK ON A RALLY IN US EQUITIES
Global traders have poured billions into the US markets over the past 4+ years as the US Federal Reserve has continued to act as the global banker of last resort. Because of this, global traders continue to invest in US equities as the strength of the US Dollar and the incredible post-Covid rally in the markets has blown past everyone’s expectations.
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