Nasdaq seems unstoppable

The tech-heavy Nasdaq 100 index is up every day this week, and it reached new all-time highs as it marches toward the 15,000 USD level. It looks like the final melt-up phase has already begun. 

Many analysts think that the final bubble phase could push the Nasdaq toward +-18,000 USD before the big boom to the downside. We will see. 

Later in the day, the European Central Bank is expected to keep interest rates and the pace of bond purchases unchanged. However, the following statement and presser will most likely sound very dovish to avoid any unwanted market turbulence. 

Moreover, US jobless claims will be released (where a negative (rising) trend has started again due to more lockdowns), along with housing starts and building permits.

In the FX, the dollar is back in the short-term bearish trend, with the USDJPY pair currently leading the decline from the major dollar pairs. 

Weaker USD and falling US yields are propping precious metals, with silver and gold probably catching another bullish momentum. However, they are still very far from their January highs. 

Source: https://www.axiory.com/market-news/nasdaq-seems-unstoppable