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Where is Nasdaq heading? support line where, resistance where?Take noted the below is not an investment advise, bet at your own risk. I am solely not responsible for any of your loses in money or assets. The Current Nasdaq Composite price is 13211.81 as of 25 September 2023. The Nasdaq have potential to drop to 12022.08 to 12000 range in the coming 1.5 months before the Fed's FOMC in November 2023. The price will hover between 14189.43 to about 12022.08 within this period. Potential strong tailwind is the pause of US Fed's rate hike this coming November 2023. This will drive and test the resistance level at 14189.43. If there is a breakout then the next level of weaker resistance based on the dynamic resistance will be at 15466.76. Potential strong headwind will drive the market to around 12022.08 because of higher rate for longer by Fed's US. If next 1.5 months down the road if there is other or fews strong headwinds appears then the price might breakout from 12022.08 and head lower to a stronger support at 10604.35. This is highly unlikely to happen withing next few months as the Fed's is data dependent and also depend of the next 6 months' data to say that they will maintain the Fed's funds rate for longer. Still I think is not clear at the moment that the Fed's need higher for longer for 2 years. 10604.35 is a very strong support level based on the 1-week chart of Nasdaq composite. I would only start buying a little at 12022.08 and reassess for 2 to 3 weeks before buying more. If by the time Nasdaq reach 12022.08 and the S&P have no reach 3900. The Nasdaq composite might go lower following the S&P 500. Based on current market condition it is highly unlikely to get a low that surpasses last year October 2022 bottom. However, the future for a US recession is unclear currently as there is both camp of soft landing and a recession.
NASDAQ:IXICLong
by juntech8
Bearish RSI divergence on NasdaqHello everyone, I just found a bearish RSI divergence on weekly chart of Nasdaq. RSI (14) on February 5 was at 73.05 and 72.91 on February 26. Close was 15990.66, now is 16274.94. In addition there was a bull cycle of 18 bars on weekly chart from March 13 2023 with price increase of 31.54 %, current cycle from October 23 ended with 29.96 %. And there is a high probability of a drop after reaching the ATH. See June 18 2015, just 4 days after a drop occured with a low on July 7, then another ATH was on July 15 August at 5231.94, this is just 1.01937 % above ATH from 10 March 2000 at 5132.52. Then signiffant drop occured with a low on August 24 at 4292.14, this is 82,03 % of ATH.
NASDAQ:IXICShort
by Ceneon
1
IXIC wave analysis- We can see as follows that the IXIC has been following a comprehensive Elliot Wave movement respecting the weekly high and low Fibonacci levels - We could see a move down towards $14 723 at the end of Q1 leading into Q2 - evidence to support this is the RSI movement > Trading around overbought levels > We can also spot an RSI bearish divergence on the daily, this is where the price increases as the RSI decreases, strength is decreasing as the price moves up causes it to loose steam for the upwards momentum - A clear break and hold of the 0 Fib level will invalidate this movement Have a great day, Cheers
TVC:IXICShort
by someshrenen
Possible Significant RecoveyThis scenario is VERY tricky, let me explain why it could go either way, drastically. I'll separate the bull/bear ideas. The nasdaq looks like it could bounce off the BB bottom for a decent recovery, but, it's to see what happens tomorrow. Reasons for Bull Rally This month inflation report is cooler. With a lower CPI, markets will anticipate a 50 basis point or 25 basis point hike, meaning a more dovish stance from the Fed. Reasons for Selling This month inflation report is still high or hotter than expected. With a higher CPI, markets will anticipate a 75 basis point or higher hike, meaning a more hawkish stance from the Fed. July 29th Q2 GDP comes in negative, officially putting the US in recession. The negativity possibility is significant. July economic data can break markets like not seen before. This is one to watch. I understand this is the 1M chart, so any move upward will be quick. I don't see markets rising for a few months, but, who knows.
NASDAQ:IXIC
by WorldEconomics
⛳️ POLE TRAGET FOR THE NASDAQMarket Phases and Historical Comparisons: The chart outlines two main type of moves, labeled "Dips" and "Legs" suggesting a comparison between a past post bear market period and the current market situation. There are colored boxes representing different market movements: declines (in red) and upward movements (in green), referred to as "Legs" and "Dips." Historical Bear Market Decline Data: The table is shows historical bear market declines from 1901 to the present, indicating the index (Dow or Nasdaq), the percentage of the decline, and corresponding recovery phases. The average decline is noted as 38% for the Nasdaq during bear markets. The average 1st Leg is 63% (current 43%) The agerage 1st Dip is -15% (current -13%) 👉 Next potential target for Leg 2 is 29% or 16212, about the old ATH 👉 Rebounding dip afterward is expected to be around -17% These are just historical precedents and guardrails to help us navigage the marekts.
NASDAQ:IXICLong
by TintinTrading
2
The Digital Economy Ushers in A Long Term Bull Market CycleI received my CMT charter long ago, when chartered market technician candidates could write a thesis that had potential to change the body of knowledge of Technical Analysis. It did and it continues to serve me and my students well. It was called "Cycle Evolution Theory" and my specialty is in the long-term cycles of emerging displacement technologies that change society, the economy and the stock market. So this is an especially exciting time in the history of the stock market to be teaching trading and investing, during a major shift I have been preparing my students for over the last few years. The stock market is rallying to new highs as a NEW Bull Market is underway. There will be minor retracements from time to time, but the long-term uptrend has begun. The Bull Market Cycles of the past have lasted about 13 years. Cycle experts believe this Bull Market will last longer because there are over 20 new technologies moving into the Market Acceptance Phase all around the same time. It’s not just Artificial Intelligence. Several new technologies are changing the economy of the US to a DIGITAL Economy, the first in the history of all the various economic types. A Digital Economy derives its primary growth and expansion not from manufacturing, not from consumer buying of products and services, but from the STOCK MARKET. In this new economy, the middle class may get left behind if they don’t learn how to use trading and investments to maintain and build wealth. See the attached NASDAQ:IXIC NASDAQ Composite Chart that shows the long-term bull market cycles of this index using the DPO indicator on a monthly scale. The Cycles show: the topping and Peak of the 2009–2020 Bull Market. a second extreme Peak in 2021 after the speculative run up out of the shortest bear market in history due to the Covid-19 Pandemic. the intermediate term correction in 2022. and now a new Trough is completed for the beginning of the next Bull Market. The Bull Market of the late 1980s to the year 2000 was extremely steep for the NASDAQ, as it had the 6 new technology industry stocks of that time as components. The Bull Market of 2003–2008 was not a new technology market period but a Real Estate Market boom, so the NASDAQ had minimal gains. The Bull Market of 2009–2020 was created by the new technology of the Cloud, Platform as a Service (PaaS), Software as a Service (SaaS), the Internet of Everything (IoE), sensors, semiconductors, electronics, and more. This next Bull Market has 20+ new technologies. When there are new technologies coming to market, there are the best opportunities for trading and investing in the stock market. PLUS, there is always a silver lining to a global pandemic cycle, and that is the empirical historical fact that after every major pandemic, there is a growth era of new technologies, new social reforms, and new approaches to problems that lead to widespread economic prosperity. A pandemic is very similar to a World War in its impact on social norms, health, government, the distribution of wealth, education, and individual identity. Most of the 140 industries in the US financial markets will be impacted by a huge number of displacement technologies. These are far more extensive and disruptive than in the new technology era of the 1980s–1990s. Learning about these new technologies will help you trade or invest in stocks with knowledge and confidence in the next long-term Bull Market. How many of the 20+ new technologies coming to market can YOU name? The stocks of companies who are working on or using these new technologies and that are poised for dominance in the next bull market cycle will have Dark Pool accumulation patterns concentrated at the trough of the next upward cycle. So I've referenced some of the posts where I've featured these patterns below. Trade Wisely,
NASDAQ:IXIC
by MarthaStokesCMT-TechniTrader
2