Several indicators suggest that the NASDAQ 100 (NAS100) may faceSeveral indicators suggest that the NASDAQ 100 (NAS100) may face a downturn in the near future:
Technical Indicators:
• Rising Wedge Pattern: The NAS100 has formed a rising wedge pattern, typically considered a bearish signal indicating a potential price decline.
• Overbought Conditions: The Relative Strength Index (RSI) shows overbought levels, suggesting that the index may be due for a correction.
Economic Data:
• Manufacturing Sector Contraction: The ISM Manufacturing PMI rose to 48.4 in November but remains below the 50 threshold, indicating ongoing contraction in the manufacturing sector.
• Slowing GDP Growth: The U.S. economy grew at an annual rate of 2.8% in the third quarter, down from previous quarters, reflecting a slowdown that could impact corporate earnings.
Federal Reserve Policies:
• Interest Rate Outlook: Federal Reserve officials have signaled caution regarding future interest rate cuts, which may affect investor sentiment and equity valuations.
Market Sentiment:
• Tech Stock Volatility: Recent declines in major tech stocks, including Nvidia and Microsoft, have led to broader market pullbacks, indicating potential vulnerability in the NASDAQ 100.
• Strengthening U.S. Dollar: A stronger dollar can negatively impact multinational companies’ earnings, many of which are components of the NASDAQ 100.
Considering these factors, there is a potential for the NASDAQ 100 to experience a decline in the near term. However, market conditions can change rapidly, and it’s advisable to monitor real-time data and news updates for the most accurate information.
US NAS 100
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NAS100USD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for NAS100USD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 20,946.7.
Taking into consideration the structure & trend analysis, I believe that the market will reach 20,451.1 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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NAS100USD Will Fall! Short!
Take a look at our analysis for NAS100USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 20,544.9.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 20,006.6 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
NAS100USD Pattern FormationThis index has been ranging for the past few days ever since it hit its HH, forming a falling flag in the process. This is an indication of indecision in the market, if the bullish momentum will continue / a potential bearish run.
We will wait for the price to break out of the formation to know where we can enter our trades.
Nasdaq Insights: 13-NOV-2024Good morning! Join me for today's Nasdaq market analysis. Share your charts, ask questions, and let's discuss trading strategies.
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Nasdaq Outlook: 07-NOV-2024Good morning, traders! Welcome to today's Nasdaq market analysis. Compare my price action insights with your own charts and enhance your trading skills.
#Nasdaq
#StockMarket
#Trading
#Investing
#DayTrading
#SwingTrading
#TechnicalAnalysis
#MarketAnalysis
#FinancialNews
#WallStreet
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#NasdaqAnalysis
#NasdaqTrading
#StockMarketNews
#MarketTrends
#InvestmentStrategies
#FinancialMarkets
#TradingTips
#NasdaqForecast
#MarketInsights
#Nasdaq100
#TechStocks
#GrowthStocks
#IndexFunds
#ETFs
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Bearish Reversal Signals: Will the Price Reverse?4H Timeframe
Current Price: 20,030.9
Bearish Signals:
• Rising Wedge (Bearish Reversal)
• Ascending Broadening Wedge (Bearish Reversal)
Expect the price to test the first price target (PT), followed by the second. Resistance may trigger a bearish reversal after reaching these levels. If the price finds support, we may reach the third PT, which is at the upper trendline of the rising wedge. Then, after reaching our bullish targets, the price would likely start its bearish reversal to eventually reach 18,749.0.
Price Targets:
Bullish:
• 1st TP: 20,210.3
• 2nd TP: 20,351.4
• 3rd TP: Upper Trendline of Rising Wedge
Bearish Reversal:
• 1st TP: Broadening Wedge Lower Trendline
• 2nd TP: Lower Trendline of Rising Wedge
• 3rd TP: 18,749.0
Happy Trading!