🏆 Today's Chart of the Day was shared by Yuriy Matso (@yuriymatso).
- The Nasdaq 100 notched an all-time high for the third week in a row, gaining nearly +2%. It rose twice as much as the other two large-cap indices, while the Russell 2000 dropped -1.4%.
- Futures gapped higher Sunday and never looked back, leaving a rare unfilled gap on the weekly chart. However, buyers and sellers have established a clear line in the sand at 25,870 over the past two sessions.
- Futures initially bounced off this level after $AMZN earnings yesterday, but failed to make a higher high before revisiting it this afternoon. November has historically been a bullish month for stocks, but losing this level could trigger an early-month shakeout.
The Takeaway: The Nasdaq 100 closed higher for the third straight week and seventh consecutive month. Seasonality favors the bulls, but holding above 25,870 will be critical next week.
