Daniels Trading Senior Broker Scott Hoffman was quoted in the Futures Magazine article titled “Full steam ahead for Nasdaq 100 e-mini.”
Daniels Trading senior broker Scott Hoffman is bullish, noting that Cisco Systems Inc. had a “knock-out third quarter,” and because Cisco sells network infrastructure technologies, it acts as a bellwether for technology stocks, which are looking forward to their annual Santa Clause rally.
It is not just about Cisco though, Hoffman cites a potential reversal of Fed policy, the decline in energy prices and a technical breakout above resistance at 1750 as fueling the recent rally. He calls for a high of 1800 and a low of 1740 for December.
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