Get started

Nasdaq Composite Index CFD

Updated Analysis on Tech (QQQ)This is the daily chart of SQQQ. SQQQ is the ETF that tracks the Nasdaq 100 ETF ( QQQ ) inversely. When tech stocks fall, SQQQ rises. Traders, therefore, use SQQQ to short tech stocks, or to hedge against a collapse in tech prices. There are several bearish signals appearing in the daily chart of SQQQ, which hint that we may soon see bullish movement for QQQ and the Nasdaq. First, there is decreasing volume in the daily chart of SQQQ, which shows that fewer and fewer market participants are opening new short positions against the Nasdaq. This is occurring even while the price of SQQQ continues to move up. This divergence is bearish and is usually the earliest sign that a reversal is coming. Second, there are major gaps up appearing on the daily chart. Gaps to the upside on SQQQ have historically never failed to close back to the downside. Therefore these gaps should be viewed skeptically, as they fail to validate upward price action. Third, the upper limit of the Fibonacci Bollinger Band continues to act as strong resistance, continuing the more than a decade-long trend whereby price cannot sustain itself above this line on any sustained basis. This line has mathematical importance, it reflects a level of price deviation where, after being reached, price begins to show a mean-reverting tendency back to the downside. In this case, SQQQ's mean reversion would be bullish for QQQ and the Nasdaq. There are many other indications that are showing that SQQQ is too overextending, including the extremely over-heated Stochastic Heat Map. The NDTH is also indicating that a very significant bottom is forming for tech and the Nasdaq. In fact, the Nasdaq is so oversold that the current levels have not been seen this the market crash of 2008-2009. Therefore, SQQQ has effectively priced in a significant recession. While a significant recession might indeed be on the horizon, if a significant recession does not ensue, then we can be fairly certain that a major short squeeze for SQQQ will occur: However, the strongest bullish argument for SQQQ (bearish argument for the Nasdaq) is that weekly price broke through the Ichimoku Cloud for the first time ever. The only plus here is that the weekly candle is a spinning top and most oscillators are trending back down. Regardless, with SQQQ being this historically overextended, it can represent a rare opportunity to buy QQQ and tech stocks before a massive short squeeze occurs. While anything can happen, and one should always use stop losses, this chart does not convince me that SQQQ is about to breakout much higher to the upside. Therefore, I remain a holder of tech and growth stocks for the intermediate-term. Not financial advice. Anything can happen and trends can end.
NASDAQ:SQQQ
by SpyMasterTrades
4
IXIC bear trap, will skyrocket soon This bear trap is too obvious. Now that most investors know the recession story of June 2022 was fake and irrational, there's really no basis for the major stock indexes to go much lower. However, there's probably more consolidation between 11600 and 12600 in September, as October is perceived as the traditional bearish month and investors keep panicking about the FOMC meeting. Only the most irrational and reckless traders would short near 11800, which would be guaranteed financial ruin in the long term. Just buy as much index fund as you can, sit back and enjoy the end-of-year rally. The crazy newbie investors of 2020 and 2021 are mostly scared and liquidated out of the market right now, but sooner or later they will jump into the market with more cash, pushing IXIC to another crazy bull in 2023 and 2024. IXIC goes up, newbies got jealous, newbies jump into the market which pushes IXIC further up, making more newbies jealous... Feedback loop as they never learn.
TVC:IXICLong
by MarcusAu
1
Dont be greedy on IXICAs I posted IXIC price movement speculation a year ago or so, now I want to warn you this is only one of the possibilities. As we kno the price movement can choose only between two dirrefent directions. Either up or down. But now it looks too good to be true to me. But this time is different. With all the world situation and economic war between US and most of the worlds countries, media propaganda about big bear in front of our economy, europe automobile industry "cold". This is all the signt, that tells us be cautious. Be prepared to go at least "half-in" if the price starts to form higher lows on weekly chart. I Will give you updates about my movements and taught, what I think about this crap. See you down here eventually, Wish you luck, DonLobster
NASDAQ:IXIC
by donlobster
3
SPX, Rate hikes and market rally !! lets share ideas.FED started rate hikes this year and so far has increased interest rate up to 2.25 %. When there was just some news about starting rate hikes market showed a sever bearish sentiment and huge decline started. Now and after 2.25 rate hike market sees 8.5 % inflation as a positive sign !!. 8.5 % is much much higher than 2 % target of FED and implies for continuation of the rate hikes. At least we know that FED will increase at minimum another 0.5 on 21th Sep . Today there were some statements by Charles Evans Chicago FED president that interest rate will be 4% at the end of next year and still market is green. Inflation data and FED decisions are interpreted to be the market drivers since start of this year but is this true? Numbers shown on the chart are cumulative interest rate after FED decisions. As we can see SPX today and after 2.25 interest rate is just about 2.5 % down from the day FED raised rates to 0.75 !. Strange !. Can we see higher SPX on 21th Sep ? Is it rational? Some take this as a positive sign for the market : (( FED finally stops rate hikes next year )). OK but rate was not supposed to go higher and higher forever. It was known from the first day that FED will stop rate hikes some day. In terms of macroeconomics, Russia -Ukraine war continues, China may invade Taiwan, Iran's nuclear deal result is unknown. Add some giants like NVDA, AMD and MU warnings to this economical climate and please let me know if you can find any positive sign. What is actual driving force of market? It seems taking interest rates and FED actions into consideration leads to contradictory results. So, what is behind all these market moves? What do you think about recent market rally? is it just a bear market rally or real bull run has been started from last major low? What is your idea? Lest share our ideas and boost our knowledge. Eager to hearing your thoughts.
SP:SPX
by SaeedSajedi
49
Here's Why You Should Think Twice Before Selling TechThis is a 2-month chart of the Nasdaq US Composite Index (IXIC). At the bottom is the Stochastic RSI which oscillates up and down depending on how overbought or oversold the market is. There have only been a few times since its inception a half-century ago, that the Nasdaq Composite Index had a 2-month chart this overextended to the downside. The K value of the Stochastic RSI has actually reached zero. If the 2-month chart closes at that level, it will mark a super rare occurrence that has only occurred twice in the history of the Nasdaq (the last time being at the bottom of the Great Recession). I calculated the one-year returns for the Nasdaq one year (from low to high) after the K value of the Stoch RSI on the 2-month time frame dropped below the oversold line (to or nearly to 10). For the case of the Dotcom bust and the Great Recession, I selected the point when the Stoch RSI's K value first reached 0, which is its current reading and which is thus fairly comparable. Even during these significant economic downturns, buying at this oversold level produced decent returns one year out. Obviously, past price action does not guarantee future price action, but history does tend to repeat itself. Odds are that ten years from now you'll probably be wishing you had bought into this oversold level. Here are the one-year returns from the market bottom during the 2M period (when the Stoch RSI K value met the criteria listed above) to the market top of the 2M period one year later: +95.78% +36.47% +31.24% +78.89% +20.17% +69.50% +27.14% +52.36% Mean: +51.44% Not financial advice. As always anything can happen.
TVC:IXIC
by SpyMasterTrades
QQQ - What comes after the FEDYesterday, the FED raised interest rates by 75bps. Yet, despite the sound logic, the market ripped up an astounding 4% leaving many analysts perplexed. Before that, we said the rate hike would be bearish and negatively affect the economy. Additionally, we noted that tighter monetary policies combined with a slowing economy would further weaken the stock market. After the FED decision, we still stick to this narrative. Recapitulation of moves on the day of previous rate hikes: 16th March 2022 = +4.31% 4th May 2022 = +3.44% 15th June 2022 = + 3.63% *values are approximate Meanwhile, despite the enormous magnitude of moves up, the general trend remained to the downside. As a result, we would like to set a new price target for QQQ at 300 USD. Accordingly, we would like to push our invalidation level for the bearish bias 1.2% above the yesterday's close price. Illustration 1.01 The setup we introduced to our audience recently. Yesterday, the index rose approximately 4% from the immediate support/resistance level. Technical analysis - daily time frame MACD and Stochastic are bullish. RSI is neutral. DM+ and DM- are bullish. ADX contains a relatively low value, indicating a weak or no trend. Overall, the daily time frame is slightly bullish. Illustration 1.02 Interestingly, after the FED decision, QQQ stopped its price rise 0.01 USD below the invalidation zone (for the bearish bias). Technical analysis - weekly time frame RSI and Stochastic are bullish. MACD performed a bullish crossover but stayed in the bearish zone. DM+ and DM- are bearish. Overall, the weekly time frame sends mixed signals. Illustration 1.03 The picture above shows the Nasdaq continuous futures and updated support and resistance levels for the index. Illustration 1.04 Illustration 1.04 shows several technical developments on the daily chart of NQ1!. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
CME_MINI:NQ1!Short
by Tradersweekly
32
Decisive USD level affecting all financial marketsThe graph: TVC:DXY*1000000000000/ECONOMICS:USM2 (without *10000... scales equal to 0 ) DXY - the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. DXY is a key economic and trading value. It's changes impact/reflect values of stocks, commodities, cryptocurrencies and other financial instruments. M2 (US money supply '2') is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. Technical Inference Technical analysis displays strong existing resistance+support lines formed by the blue parallel channel. Numerous touching/turning points in major and minor lines. Considering strong correlation with resistance and support lines, improvement in analysis and trading accuracy may be achieved. DXY/Money Supply 2 had hit its 3rd peak recently. I believe we will see some upside movement in the short-term, with fierce bearish reversal incoming in the long-term, likely at the 1.414(5.277) Fib resistance retest. it Especially since 2002, CCs (correlation coefficients) between DXY/Money Supply and IXIC, SPX, Gold have signified negatively strong correlations. For equities and crypto markets: - short-term bearish movement - long-term bullish For Commodities: - I believe further QE (quantitative easing), increasing the money supply will decrease the US dollars value. Thereby, a weaker dollar means commodities are less expensive in other currencies – this increases demand, and therefore prices for US. Indicators Weekly RSI hit above 70, monthly Macd moving towards its mean. Further resources: F urther images+indicators
TVC:DXY
by Sanzhar_m
Nasdaq Composite dropping. IXICIt is appearing to be doing so along with the other major indices and there is plenty of data to speculate that the drop will continue technically and from a valuation standpoint. How low are we going? No one knows, but we have charted a few goals reasonable to us. A book can be written on how we derive the goals, so we won't bore you now. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
TVC:IXICShort
by Rykin_Capital
NASDAQ Engulfing to down in 30 minutes chartEngulfing candles on Nasdaq at 30 minutes. Artificial Pump is over. I really do not understand how idiotic could people be buying #stonks from companies after their negative earning reports and fed hikes of interest rates. How could one invest into something knowing that it will lose your money. Imminent #bigcursh coming - big companies reporting negative #earnings <=> Markets continue pumping up - #interestrates increased worldwide <=> Markets still continue pumping up - #GDP shrinking <=> Markets continue pumping up more Even a small #BlackSwan and all will crush
CME_MINI:NQ1!Short
by viparmenia
Nasdaq 100 - Eyes on the FEDRecently, we warned about the impending short-term bounce in the price of QQQ while sticking to our bearish outlook for the medium and long term. Today, we will pay close attention to the Nasdaq 100 index as the FED officials are expected to hike interest rates in the range of 50bps to 75bps. In our opinion, such a move by the central bank will negatively impact the U.S. economy. Higher servicing cost of debt, high rate of inflation, the prospect of global recession, and more economic tightening by central bankers will further weaken the slowing economy. As a result, we are increasingly anxious about the current rally. At the moment, we will pay close attention to the immediate support/resistance with the bullish potential above it and the bearish potential below it. Additionally, we will monitor volume to see if it is sufficient to propel the price higher. For the bullish prospect, we would like to see a further increase in price accompanied by a gradual increase in volume. We introduce the current trade setup in Illustration 1.01. It consists of two alternative scenarios. We will update the idea after the FED meeting. Technical analysis - daily time frame RSI and Stochastic are bearish. MACD is neutral. DM+ and DM- are neutral. Overall, the daily time frame is slightly bearish. Illustration 1.01 Illustration 1.01 shows the current trade setup for the Nasdaq 100 index (continuous futures, NQ1!). Technical analysis - weekly time frame RSI is bullish. MACD is neutral. Stochastic points to the upside but stays in the bearish area. DM+ and DM- remain bearish. Overall, the weekly time frame is slightly bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NASDAQ:QQQShort
by Tradersweekly
12
Daily Market Update for 7/8Summary: Employment data on Friday showed a better-than-expect labor market with Payrolls far exceeding the forecast. The strong labor market opens the door for the Fed to continue its aggressive rate hikes to control inflation. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, July 8, 2022 Facts: +0.12%, Volume lower, Closing Range: 74%, Body: 63% Green Good: Higher high, higher low, good closing range Bad: Lower volume on gain Highs/Lows: Higher high, Higher low Candle: Medium green body with long upper wick, tiny lower wick Advance/Decline: 0.96, slightly more declining stocks than advancing stocks Indexes: SPX (-0.08%), DJI (-0.15%), RUT (-0.01%), VIX (-5.52%) Sector List: Health (XLV +0.30%) and Technology (XLK +0.05%) at the top. Communications (XLC -0.47%) and Materials (XLB -0.98%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Employment data on Friday showed a better-than-expect labor market with Payrolls far exceeding the forecast. The strong labor market opens the door for the Fed to continue its aggressive rate hikes to control inflation. The Nasdaq rose by +0.12% while the other major indexes fell. The candle has a 63% green body underneath a long upper wick resulting in a 74% closing range. Volume was lower than the previous day. There were slightly more declining stocks than advancing stocks. The Dow Jones Industrial Average (DJI) declined by -0.15%. The S&P 500 (SPX) fell by -0.08%. The Russell 2000 (RUT) closed the day flat, declining just -0.01%. Only three of the eleven S&P sectors gained. Health (XLV +0.30%) and Technology (XLK +0.05%) were the best two sectors for the day. Communications (XLC -0.47%) and Materials (XLB -0.98%) had the biggest losses. Nonfarm Payrolls for June grew by 372,000 compared to the consensus forecast of 268,000. The Unemployment Rate remained at 3.6%. The US Dollar Index (DXY) fell by -0.13%. US 30y, 10y, and 2y Treasury Yields rose. High Yield (HYG) Corporate Bond prices gained while Investment Grade (LQD) Corporate Bond prices followed Treasuries lower. Brent Oil rose to $105 a barrel. The VIX Volatility Index (VIX) fell by -5.52%. The put/call ratio (PCCE) rose to 0.768. The CNN Fear & Greed Index inched further from Extreme Fear, but is still in the Fear range, far from Neutral. Three of the big six mega-caps gained. Tesla (TSLA) had the best gain, advancing by +2.54%. The stock had further gains after hours as news hit that Elon Musk pulled out of the Twitter purchase. Meta (FB) had the biggest decline of the six, falling by -0.76%. Five of the six closed above their 21d EMA and 50d MA. Tesla also topped the broader mega-cap list. Alibaba (BABA) was at the bottom of that list with a -1.22% decline. Enphase Energy (ENPH) was the best stock in the Daily Update Growth List, gaining by +4.65% Friday. Twitter (TWTR) was at the bottom of the list, declining by -5.10%. Twitter moved lower after hours for the same reason Tesla moved higher. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead There are no significant economic news or earnings reports scheduled for Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq briefly rose above the 50d moving average but closed below the line. If the five-day trend line continues into Monday, that would mean a +2.29% gain. A continuation of the one-day trend line points to a +0.54% gain. Returning to the trend line from the 6/16 low would result in a -1.15% decline to start the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Analysts are needing to reconsider again what actions the Fed might take considering a much stronger labor market than they initially expected. Despite news of big tech hiring freezes, payrolls grew in June as other sectors continue to hire. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 7/7Summary: Markets had a fourth day of gains for July, starting off the month green as analysts continue to judge if and when a recession will hit. Wells Fargo says the recession is already here. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, July 7, 2022 Facts: +2.28%, Volume lower, Closing Range: 90%, Body: 86% Green Good: Price rally all-day, high closing range, advance/decline ratio Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: Mostly green body, tiny upper and lower wicks. Advance/Decline: 2.21, more than two advancing stocks for every declining stock Indexes: SPX (+1.50%), DJI (+1.12%), RUT (+2.43%), VIX (-2.43%) Sector List: Energy (XLE +3.61%) and Consumer Discretionary (XLY +2.58%) at the top. Real Estate (XLRE +0.07%) and Utilities (XLU -0.10%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Markets had a fourth day of gains for July, starting off the month green as analysts continue to judge if and when a recession will hit. Wells Fargo says the recession is already here. The Nasdaq climbed by +2.28% but on lower volume than the previous day. The 86% green body is in between two tiny wicks as the index closed the day with a 90% closing range. Prices rose throughout the day. There were more than two advancing stocks for every declining stock. Small caps led the day. The Russell 2000 (RUT) gained +2.43%. The S&P 500 (SPX) rose by +1.50% and the Dow Jones Industrial Average (DJI) advanced by +1.12%. Ten of the eleven S&P sectors gained. Energy (XLE +3.61%) and Consumer Discretionary (XLY +2.58%) were the top two sectors. Utilities (XLU -0.10%) was the only sector to decline. Weekly Initial Jobless Claims were at 235,000, slightly worse than the consensus forecast of 230,000. The Trade Balance for May was at -85.50 billion, worse than the expected -84.90 billion. Crude Oil Inventories were much higher than expected, with 8.2 million barrels of excess for the week compared to the expectation for a -1 million-barrel shortfall. The US Dollar index (DXY) held its current level, declining by only -0.01% today. US 30y, 10y, and 2y Treasury Yields rose for a second day. High Yield (HYG) Corporate Bond prices advanced, narrowing the gap with short-term treasuries. Investment Grade (LQD) Corporate Bond prices were flat for the day. Brent Oil rose back above $100 a barrel. The VIX Volatility index declined by -2.43%. The put/call ratio (PCCE) fell to 0.755. The CNN Fear & Greed Index moved into the Fear range. The NAAIM money manager exposure index declined to 27.85. All big six mega-caps gained today with Tesla (TSLA) leading the pack, rising by +5.53%. All six closed above their 21d EMA and four of the six closed above their 50d MA. Taiwan Semiconductor (TSM) was the best mega-cap for the day, gaining +6.74%. Verizon Communications (VZ) declined by -1.55% to end up at the bottom of the list. In the Daily Update Growth List, it was Fastly (FSLY) with the best gain, advancing by +10.13%. The only declining stock on the list was DataDog (DDOG) which fell by -0.31%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow is the monthly employment data Friday. Nonfarm Payrolls and the Unemployment Rate are top indicators of the health of the labor market. The data will be released before the market opens. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq rose throughout the day to close just below the 50d MA. If the one-day trend line continues, that would meet up with the five-day trend line for a +1.03% gain tomorrow and a close above the 50d MA. If the index returns to the trend line from the 6/16 low, that would mean a -1.80% decline for Friday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Investors are likely looking for mediocre to worse labor market data for Friday. Worse-than-expected employment data could mean a more dovish fed in 2023 which is what institutions are pricing into the market now. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 7/6Summary: Investors' reaction to the Fed's meeting minutes from June resulted in a choppy indecisive day for the market. The US Dollar continued to climb against the Euro. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, July 6, 2022 Facts: +0.35%, Volume lower, Closing Range: 58%, Body: 12% Green Good: Higher high, higher low, good closing range Bad: Indecisive finish, advance/decline ratio Highs/Lows: Higher high, Higher low Candle: Indecisive spinning-top candle, thing green body in middle of two long wicks Advance/Decline: 0.54, almost two declining stocks for every advancing stock Indexes: SPX (+0.36%), DJI (+0.23%), RUT (-0.79%), VIX (-2.94%) Sector List: Utilities (XLU +1.04%) and Technology (XLK +0.86%) at the top. Consumer Discretionary (XLY -0.33%) and Energy (XLE -1.71%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Investors' reaction to the Fed's meeting minutes from June resulted in a choppy indecisive day for the market. The US Dollar continued to climb against the Euro. The Nasdaq rose by +0.35%, helped mostly by big tech. Volume was lower than the previous day. The candle has a thin 12% green body in the middle of equal upper and lower wicks. The candle represents a spinning top that indicates indecision in the market, a perfect way to explain today's session. There were nearly two declining stocks for every advancing stock. Small-caps pulled back with the Russell 2000 (RUT) declining by -0.79%. The S&P 500 (SPX) rose by +0.36% and the Dow Jones Industrial Average (DJI) gained +0.23%. Seven of the eleven S&P sectors gained. The defensive sector of Utilities (XLU +1.04%) was at the top, followed by the growth sector of Technology (XLK +0.86%), another representation of the mix of sentiment in the market. Consumer Discretionary (XLY -0.33%) and Energy (XLE -1.71%) were at the bottom of the sector list. Energy stocks continue to fall along with oil prices. The Services PMI for June was higher than expected. The 52.3 reading exceeded the 51.2 consensus forecast, showing more activity in Services than expected. JOLTs Job Openings were also higher than expected, coming in at 11.3 million compared to the expected 11 million. The US Dollar Index (DXY) rose another +0.52%. The last time the index was this high was in 2002. US 30y, 10y, and 2y Treasury Yields all moved higher today. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Brent Oil dropped to $98.73 per barrel. The VIX Volatility Index fell by -2.94%. The put/call ratio (PCCE) rose to 0.840. The CNN Fear & Greed index hasn't moved for a few days and is still in Extreme Fear. Of the big six mega-caps, only Tesla (TSLA) declined, falling by -0.57%. Microsoft (MSFT) had the biggest gain among the group, advancing by +1.28% and closing above its 50d MA and 21d EMA. Alphabet (GOOG) also closed above the two key moving average lines, rising by +1.16% today. Pfizer (PFE) was the top mega-cap for today, gaining +2.15%. Chevron (CVX) and Exxon Mobil (XOM) continue to be the bottom two mega-caps as the price of oil drops. They lost -1.32% and -1.80% today. The Daily Update Growth List was mostly decliners today. The best advance was by Beyond Meat (BYND) which rose by +6.03%. The biggest declines in the list were Chinese Stocks, with Futu Holdings leading the pack, declining by -11.02% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead We'll get more labor data tomorrow at 8:15a with the ADP Nonfarm Employment Change for June. That comes before the weekly Initial Jobless Claims at 8:30a. Imports/Exports and the Trade Balance data for May will also be published. Crude Oil Inventories will be available after the market opens. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq rose in a choppy session to close above the 21d exponential moving average line. If the one-day trend line continues into Thursday, we can expect a +1.02% gain. The five-day trend line and the trend line from the 6/16 low point to a -0.47% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The Fed minutes from June confirmed a very hawkish Fed that wants to act quickly before inflation becomes entrenched in the outlook for the public. On one hand, it means more rate hikes into 2023 are very possible. On the other hand, we can expect inflation to top at some point and start to come down. The two sentiments caused a mix of reactions today which could continue into the next Fed meeting at the end of this month. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321