The Nasdaq 100 rallies as investors keep going risk-on. The rally further gained traction after its surge above December’s high of 12200. Strong momentum is a sign that the bears are staying on the sidelines. The bullish drive supported by a rising trend line has made an attempt at last September’s peak of 12880. The RSI’s overbought condition may lead to a brief pause but trend followers might be eager to keep the direction intact. 12050 at the base of the latest rally sits on the trend line, making it an important floor.
