Get started
Nasdaq Composite IndexNasdaq Composite IndexNasdaq Composite Index

Nasdaq Composite Index

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Components

IXIC trade ideas

We've been in a huge bear market since February - nobody noticedEver wondered why your stocks keep going down although US Indices are at an All Time High? Here is (most likely) the answer! I've managed, with some degree of inaccuracy, to extract Nasdaq100 companies from the Nasdaq Composite Index . This basically represents all stocks on the Nasdaq Exchange excluding Megacaps and SuperLareCap stocks. The result is truly mindblowing - We've been in a huge bear market since February. During the last week, normal stocks have crashed with intensities not seen since the Corona Crash. 🔥 Disclaimer: The ratios used in the formula are just guesses - Tradingview doesn't provide any Index/Stock Exchange Market Cap data (yet). With those I could figure out the exact formula.
TVC:IXIC
by The_Silen
14
Daily Market Update for 1/5Summary: All indexes and sectors decline in late afternoon trading after the Fed released its December meetings minutes that showed a higher-than-expected concern over inflation combined with the tightening labor market. 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, January 05, 2022 Facts: -3.34%, Volume lower, Closing Range: 1%, Body: 91% Red Good: Lower volume on decline Bad: Close well below the 21d EMA and 50d MA Highs/Lows: Lower high, Lower low Candle: Almost all red body, small upper wick, no lower wick Advance/Decline: 0.18, more than five declining stocks for every advancing stock Indexes: SPX (-1.94%), DJI (-1.07%), RUT (-3.30%), VIX (+16.68%) Sector List: Materials (XLB -0.01%) and Energy (XLE -0.02%) at the top. Technology (XLK -3.07%) and Real Estate (XLRE -3.25%) at the bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview All indexes and sectors decline in late afternoon trading after the Fed released its December meetings minutes that showed a higher-than-expected concern over inflation combined with the tightening labor market. The Nasdaq dropped -3.34%. The index was already on the decline before the Fed meeting minutes made things worse. The candle is 91% red body with a small upper wick and the 1% closing range means no lower wick. There were more than five declining stocks for every advancing stock. The Dow Jones Industrial Average (DJI) held up the best, declining just -1.07%. The S&P 500 (SPX) fell -1.94%. The Russell 2000 (RUT) lost -3.30%. The VIX Volatility Index (VIX) rose +16.68%. All S&P 500 Sectors declined. Materials (XLB -0.01%) and Energy (XLE -0.02%) were the best performers. Technology (XLK -3.07%) and Real Estate (XLRE -3.25%) had the most significant losses. ADP Nonfarm Employment Change for December more than doubled the expectation, adding 807,000 payrolls compared to an expected 400,000. Both the Services PMI and Markit Composite PMI for December exceeded forecast. Crude Oil Inventories came in higher than expecting, signaling some softening of demand compared to the forecast. The US Dollar index (DXY) declined -0.10%. Long and short term US Treasury Yields rose sharply. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Aluminum Futures are on the rise. All four largest mega-caps declined for the day with Alphabet (GOOGL) having the most significant loss, falling -4.59%. Three of the four continue trading below their 21d EMA and 50d MA. Apple (AAPL) is testing the 21d EMA, but closed above the line today. Pfizer (PFE) was the top mega-cap of the day with a +2.02% gain. Salesforce.com (CRM) lost the most in the mega-cap list, declining -8.28%. The only two stocks in the Daily Update Growth List to gain today were Chinese stocks. Niu Tech (NIU) and Alibaba (BABA) gained +2.41% and +1.34%. The worst losers, GrowGeneration (GRWG), Roku (ROKU), and Enphase (ENPH) all declined more than 11%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead The weekly Initial Jobless Claims numbers will be available before the market opens. Imports/Exports data will also be in view in the early morning. After the market opens, the ISM Non-Manufacturing Purchasing Managers Index will publish. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dove below several key support areas today, seemingly in a free-fall only stopped by the market closing. It's unlikely to happen in a single day, but if the index bounces and moves back toward the trend line from the 12/20 low, that would be a +4.76% gain. The five-day trend line is in decline, but the index would still gain +1.41% if it returned to that line. If the one-day trend continues, that would mean a -2.69% decline tomorrow with the index moving to the 200d moving average. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Despite having already anticipated bond tapering and rate hikes, Investors were surprised today after the Fed minutes showed an even more aggressive move to control inflation. We already felt the impact today on the changed outlook from institutional investors. The question that remains is how much adjustment is needed and to what extend that will continue to weigh bond and equity markets. The expectation for tomorrow is further correction. Lower prices for the Nasdaq. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
IXIC 1/5/2021Nasdaq with the unexpected retest of the bottom of the price channel. Surprising the moving averages did not catch price and prevented it from falling back down to bottom of channel again. This was a sharp move down and hopefully we start to see small reversal candles at support or buyers come in and have a strong bounce off support. Last line of support. Its been quite the rollercoaster ride. Staying neutral until either I see reversal signal or breakdown of channel.
NASDAQ:IXIC
by rudcharts
2
Daily Market Update for 1/4Summary: While most of the market dipped, cyclical stocks took the lead. Energy and Financials led the day while Industrial and Materials had gains after missing out on yesterday's momentum. The rotation shouldn't be a huge surprise after the lopsided gains the previous day and the selling signals of richly (dare we say over) valued growth stocks. 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=- Tuesday, January 4, 2022 Facts: -1.33%, Volume higher, Closing Range: 32%, Body: 68% Red Good: Closed above the 21d EMA and 50d MA Bad: Dip below the key moving averages, decline on higher volume. Highs/Lows: Higher high, Lower low Candle: Large red body with no upper wick Advance/Decline: 0.51, two declining stocks for every advancing stock Indexes: SPX (-0.06%), DJI (+0.59%), RUT (-0.16%), VIX (+1.87%) Sector List: Energy (XLE +3.46%) and Financials (XLF +2.63%) at the top. Technology (XLK -1.06%) and Health (XLV -1.32%) at the bottom. Expectation: Sideways or Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview While most of the market dipped, cyclical stocks took the lead. Energy and Financials led the day while Industrial and Materials had gains after missing out on yesterday's momentum. The rotation shouldn't be a huge surprise after the lopsided gains the previous day and the selling signals of richly (dare we say over) valued growth stocks. The Nasdaq lost -1.33%. Volume was higher than the previous day and returned to the 50d average. The candle is covered by 68% red body with no upper wick, as the index sold off immediately after the market opened. After dipping below the 21d EMA and 50d MA, the Nasdaq recovered to close above the two lines, creating the lower wick of the candle. There were two declining stocks for every advancing stock. The Dow Jones Industrial Average (DJI) had a record close, helped by large cyclicals to gain +0.59%. The S&P 500 (SPX) closed down -0.06%. The Russell 2000 (RUT) declined -0.16%. Both indexes held some gains from yesterday. The VIX Volatility Index (VIX) increased by +1.87%. Five of the S&P 500 sectors gained for the day, led by the four cyclical sectors. Energy (XLE +3.46%) and Financials (XLF +2.63%) were at the top. Technology (XLK -1.06%) and Health (XLV -1.32%) were the worst-performing sectors. The ISM Manufacturing Purchasing Managers Index (PMI) for December was 58.7, lower than the expected 60.0. JOLTs Job Openings for November was also lower than expected, showing 10.6 million, compared to the forecast of 11.1 million. API Weekly Crude Oil Stock showed much higher demand than expected. The US Dollar Index (DXY) increased by +0.06%. The US 30y and 10y Treasury Yields rose for the day while the 2y Treasury Yield declined. High Yield (HYG) Corporate Bond prices fell for another day. Investment Grade (LQD) Corporate Bond prices advanced slightly. Gold and Silver rose today after sharp declines yesterday. The put/call ratio (PCCE) increased to 0.611. The CNN Fear & Greed index is in Greed but continuing to inch toward Extreme Greed. All four largest mega-caps declined for the day. Only Apple (AAPL) remains above its 21d EMA and 50d MA after setting records the previous day. Toyota Motor Corporation (TM ) topped the mega-cap list with a +6.92% gain. Those gains come alongside huge days for Ford (F) and General Motors (GM), which gained +11.67% and +7.47%. Each of the three had separate positive news stories. Toyota topped GM in sales for 2021. Ford announced an increase in production for the all-electric F-150 pickup. GM rallied the day before the all-electric Chevrolet Silverado is to debut. Another auto manufacturer was at the bottom of the mega-cap list. Telsa (TSLA) had a -4.18% decline after gaining more than +13% the previous day. Only two stocks in the Daily Market Update Growth List gained for the day. Ehang Holdings (EH) gained +3.77%, and D.R. Horton (DHI) gained +0.44%. There were many losses greater than 5% on the list. Sea Limited (SE) had the most significant loss, declining -11.41%. It was just not a good day for growth stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead ADP Nonfarm Employment Change data for December will be available in the morning. After the market opens, we'll get the Markit Composite and Services Purchasing Managers Index data. Crude Oil Inventories will be available later in the morning. The Fed will release the December Meeting Minutes in the afternoon. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dipped below the 21d EMA, 50d MA, and the 15,600 support area before closing slightly above all three. That may provide some support for further gains tomorrow. If the index returns to the trend line from the 12/20 low, that would mean a +2.19% gain for Wednesday. The five-day trend line points to a -0.02% decline. Continuing the one-day trend would result in a -1.32% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I didn't quite forecast a rotation yesterday, but it was in the back of my mind. Two things stood out. First, on a day with broad gains across the indexes and high advance/decline ratios, why were two cyclical sectors (Industrials and Materials) left out of the gains. I wouldn't expect them to lead for the day, but greater than 1% declines? The second signal was that several "darling" stocks with significant growth over the past year sold off yesterday. DataDog and MongoDb were two big decliners. It was a signal that investors were moving away from richly valued growth stocks and toward opportunities in undervalued small-caps and, as we saw today, value plays in cyclicals. There are likely more rotations to come as investors position for this year. Based on the chart, the expectation for the Nasdaq is Sideways or Lower tomorrow. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
1
Daily Market Update for 1/3Summary: Happy New Year! The first day of 2022 had indexes trading higher as money and trading volume came back into the market. Stocks broadly shared gains, but not all sectors benefited from the advances. 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=- Monday, January 03, 2022 Facts: +1.20%, Volume higher, Closing Range: 100%, Body: 53% Green Good: Close at intraday high, great advance/decline ratio Bad: Nothing Highs/Lows: Higher high, Higher low Candle: Long lower wick, underneath 53% green body, no upper wick Advance/Decline: 1.77, three advancing stocks for every two declining stocks. Indexes: SPX (+0.64%), DJI (+0.68%), RUT (+1.21%), VIX (-3.60%) Sector List: Energy (XLE +3.10%) and Consumer Discretionary (XLY +2.87%) at the top. Health (XLV -1.03%) and Materials (XLB -1.30%) at the bottom. Expectation: Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Happy New Year! The first day of 2022 had indexes trading higher as money and trading volume came back into the market. Stocks broadly shared gains, but not all sectors benefited from the advances. The Nasdaq finished the day with a +1.20% gain. The index closed at its intraday high, creating a 53% body in the upper half of the candle while the long lower wick formed in the first hour of trading. There were more than three advancing stocks for every two declining stocks. Small-caps in the Russell 2000 (RUT) outperformed, with the index gaining +1.21%. The S&P 500 (SPX) climbed by +0.64%. The Dow Jones Industrial Average (DJI) advanced +0.68%. The VIX Volatility Index (VIX) declined -3.60%. Five of the eleven S&P 500 sectors gained for the day. Energy (XLE +3.10%) and Consumer Discretionary (XLY +2.87%) were at the top of the list. Health (XLV -1.03%) and Materials (XLB -1.30%) were at the bottom. It's good to see the Energy sector leading, with the Financial sector also having positive gains along with the growth sectors. The US Dollar index (DXY) gained +0.58% on the first day of the year. US Treasury yields were sharply higher as investors moved back into equity instruments. High Yield (HYG) and Investment Grade (LQD) Corporate Bond Prices were lower, tracking lower along with treasuries (prices move opposite yields). Gold was also lower as the market increased exposure to riskier assets after the holiday. The put/call ratio (PCCE) dropped to 0.535. The CNN Fear & Greed index is back in the Greed range after being in the Fear range before Christmas. The NAAIM Money Manager Exposure Index moved up to 85.71 last week. Three of the four largest mega-caps gained. Apple (AAPL) made headlines with a record close and the first company to exceed $3 trillion in market cap. Amazing! Today's gain was +2.50%. Amazon (AMZN) advanced +2.21%, and Alphabet (GOOGL) rose +0.10%. Microsoft (MSFT) declined -0.47%. Apple and Microsoft are the only two trading above their 21d EMA. Today, Tesla (TSLA) topped the mega-cap list with a +13.53% gain. The company revealed that its number of car deliveries for Q4 smashed analyst expectations. Pfizer (PFE) was at the bottom of the mega-cap list with a -4.06% decline. Tesla also topped the Daily Update Growth List. Following Tesla was Ehang Holdings (EH) which gained +6.64%. There were surprisingly more decliners than advancers in the list. DataDog was at the bottom of the list with a -8.02% decline. Those declines were common among high growth, richly valued stocks. Today was not a good start for those looking to leave behind 2021 volatility for these stocks. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead There is an OPEC meeting scheduled for Tuesday morning. After the market opens, we'll get the ISM Manufacturing data. We'll also get the JOLTs Job Openings reports which have been influential to sentiment over the past year. After the market closes, API Weekly Crude Oil Stock will be available. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance If the index returns to the trend line from the 12/20 low, that would mean a +1.37% gain for tomorrow. The one-day trend line points to a +0.61% advance. Following the five-day trend line would result in a -0.64%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Looking across all inputs, it appears to be a constructive start to the new year. Volume is much higher than last week's holiday volume but has not yet returned to the fifty-day average volume. The advance/decline ratios were good, and growth sectors all had gains. However, several stocks that have enjoyed rich valuations, such as DataDog and MongoDb, dropped today, showing investors have limits heading into the new year. For tomorrow, the expectation is higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
2
Nasdaq (IXIC) | The best scenario for the fallHello traders, Nasdaq (IXIC) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. By looking at the waves, the weekly times 1 and 2 are probably over, and this analysis and this wave count is part of wave 3. Wave 3 in the weekly time is not on the Fibonacci that can be returned, and only we can make this correction with the wave count we considered in the daily time. In daily time, waves 1 and 2 are complete and wave 3 is in excellent condition in terms of appearance, but it is not in good shape relative to wave 1. Waves 2 and 4 are very similar both in appearance and correction and have caused the wave count to not be normal. However, there are exceptions in the waves. We make the possibility of correction provided that the trend line is broken downwards and the price will move up to the specified targets. If the end of wave 5 is broken, the complete analysis of the field will not be done, but this correction will be done in a short time. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
TVC:IXIC
by mahdisoltaninjad
2
Daily Market Update for 12/23Summary: Even amongst mixed economic data, markets continued to rally as more information emerges about Omicron. Optimism continues to build that the global economy can power thru further pandemic waves. 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, December 23, 2021 Facts: +0.85%, Volume lower, Closing Range: 74%, Body: 64% Green Good: Rise above 15,600 support area, closing range of 74% Bad: Lower volume, some minor selling before close Highs/Lows: Higher high, Higher low Candle: Mostly green body with a slightly longer upper wick Advance/Decline: 2.24, more than two advancing stocks for every declining stock Indexes: SPX (+0.62%), DJI (+0.55%), RUT (+0.89%), VIX (-3.60%) Sector List: Consumer Discretionary (XLY +1.39%) and Industrials (XLI +1.18%) at the top. Utilities (XLU -0.01%) and Real Estate (XLRE -0.30%) at the bottom. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Even amongst mixed economic data, markets continued to rally as more information emerges about Omicron. Optimism continues to build that the global economy can power thru further pandemic waves. The Nasdaq climbed another +0.85%. The closing range of 74% comes above a 64% green body. The slightly longer upper wick formed just before close as investors closed positions before a long holiday weekend and expected lower volume over the next few weeks. There were more than two advancing stocks for every declining stock. Small-caps continue to lead this week with the Russell 2000 (RUT) gaining +0.89% today. The S&P 500 (SPX) rose +0.62% and the Dow Jones Industrial Average (DJI) advanced +0.55%. The VIX Volatility Index fell to its lowest point since rising in late November, declining -3.60% today. Consumer Discretionary (XLY +1.39%) and Industrials (XLI +1.18%) were the top two sectors. Utilities (XLU -0.01%) and Real Estate (XLRE -0.30%) were at the bottom of the list. Economic data was mixed. Durable Goods Orders for November was higher than expected. However, PCE Price Index data for November was also higher than expected as high inflation continues. Personal Spending was lower than the previous month, but matched the forecast. Weekly Initial Jobless Claims stayed steady at 205,000. The US Dollar Index (DXY) declined -0.06%. US 30y, 10y, and 2y Treasury Yields all rose for the day. High Yield (HYG) Corporate Bond prices rose while Investment Grade (LQD) Corporate Bond prices dropped. The put/call ratio (PCCE) declined to 0.642. The CNN Fear & Greed Index moved back toward Neutral, but remains in the Fear range. The NAAIM Money Manager Exposure Index rose to 67.02 from 52.22 the week before. All four largest mega-caps had gains. Microsoft (MSFT), Apple (APPL), and Alphabet (GOOGL) gained +0.45%, +0.36% and +0.34%, respectively. Amazon (AMZN) rose just +0.02% and still closed below its 21d EMA and 50d MA. Tesla (TSLA) topped the mega-cap list for a second day, gaining +5.76% today. Pfizer (PFE) was at the bottom of the list with a -1.41% decline. Chewy (CHWY) recovered most of its post-earnings decline with a +6.28% advance today, bringing it to the top of the Daily Update Growth List. JD.com (JD) was at the bottom of the list, losing -6.92%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Markets are closed on Friday due to the Christmas Holiday. There are no significant economic events or earnings reports on Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq rose above the 15,600 support area today. If the one-day and five-day trend lines continue into Monday, that would mean another +0.84% advance. The trend line from the 11/22 high points to a -2.98% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Three days of green in the markets was a nice present leading into the Christmas holiday. Volume was shrinking however and one can expect volume to continue to be low for the next two weeks. That could give more influence to the bulls or bears, but typically the last week and first week of the year are bullish. The expectation for Monday is Sideways or Higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/22Summary: Markets moved higher on positive Consumer Confidence data as Omicron fears start to fall. Gains were shared widely across the market with all S&P 500 sectors gaining for the day. 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, December 22, 2021 Facts: +1.18%, Volume lower, Closing Range: 98%, Body: 91% Green Good: Higher high, higher low, great closing range Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: Mostly green body, tiny upper and lower wicks Advance/Decline: 1.49, three advancing for every two declining stocks Indexes: SPX (+1.02%), DJI (+0.74%), RUT (+0.86%), VIX (-11.33%) Sector List: Consumer Discretionary (XLY +1.82%) and Technology (XLK +1.31%) at the top. Industrials (XLI +0.28%) and Communications (XLC +0.25%) at the bottom. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Markets moved higher on positive Consumer Confidence data as Omicron fears start to fall. Gains were shared widely across the market with all S&P 500 sectors gaining for the day. The Nasdaq rose +1.18% today. Volume was lower than the previous day but the 98% closing range and high advance/decline ratio were very bullish. The candle is covered by a 91% green body with tiny upper and lower wicks. There were three advancing stocks for every two declining stocks. The S&P 500 (SPX) gained +1.02%. The Dow Jones Industrial Average (DJI) rose +0.74%. The Russell 2000 (RUT) advanced +0.86%. The VIX Volatility Index declined -11.33%. Consumer Discretionary (XLY +1.82%) and Technology (XLK +1.31%) were the top sectors for the day. Industrials (XLI +0.28%) and Communications (XLC +0.25%) were at the bottom of the list. Quarterly GDP growth for Q3 updated to 2.3% compared to the previous 2.1% reading. CB Consumer Confidence came in at 115.8 compared to the expectation of 110.8. Crude Oil Inventories showed higher demand than expected, showing a shortage of -4.715 million barrels compared to a-2.750 million barrel expected shortage. The US Dollar weakened with the index (DXY) dropping -0.37%. US 30y, 10y, and 2y Treasury Yields all declined slightly. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices advanced. Aluminum Futures were up sharply for a second day. All four largest mega-caps gained for the day with three of the four closing above their 21d EMA and 50d MA. Alphabet (GOOGL) gained the most, rising +2.05%. Microsoft (MSFT) advanced +1.81%. Apple (AAPL) climbed +1.53%. Amazon (AMZN) rose +0.36%, the only one that remains below the key moving average lines. Tesla (TSLA) was the top mega-cap of the day, gaining +7.49% today after Elon Musk finished selling stock for taxes. Alibaba (BABA) declined -4.20%, dropping to the bottom of the mega-cap list. Tesla was also the top stock in the Daily Update Growth List. In a distant second was Digital Turbine (APPS), which gained +2.66%. At the bottom of the list was FUTU Holdings (FUTU), declining -6.01%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Durable Goods Orders data for November will be available in the morning. We'll also get PCE Price Index data and the weekly Initial Jobless Claims. After the market opens, expect the Michigan Consumer Confidence and Expectations as well as New Home Sales. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq moved back above the 50d moving average and the 21d exponential moving average lines. It closed below the 15,600 support/resistance area. If the one-day trend line continues, expect a +0.37% advance for Thursday. The five-day trend line points to a -1.25% decline. If the index drops back to the trend line from the 11/22 high, that would mean a -2.57% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Sentiment is improving as more data emerges about the severity of Omicron. It helped that Biden didn't mention new lockdowns or travel restrictions in his address to the nation on Tuesday. Top that off with positive economic data and it was a good setup for gains today. The expectation for tomorrow is Sideways or Higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/21Summary: A rebound from the Omicron sell-off was helped along by great earnings reports from Nike and Micron Technology. 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=- Tuesday, December 21, 2021 Facts: +2.40%, Volume lower, Closing Range: 98%, Body: 60% Green Good: Broad gain with high advance/decline ratio, high closing range Bad: Lower volume Highs/Lows: Higher high, Higher low Candle: Large green body at top of candle, long lower wick Advance/Decline: 2.9, almost three advancing stocks for every declining stock Indexes: SPX (+1.78%), DJI (+1.60%), RUT (+2.95%), VIX (-8.13%) Sector List: Energy (XLE +2.85%) and Consumer Discretionary (XLY +2.59%) at the top. Consumer Staples (XLP -0.13%) and Utilities (XLU -0.14%) at the bottom. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A rebound from the Omicron sell-off was helped along by great earnings reports from Nike and Micron Technology. The Nasdaq climbed by +2.40%. Volume was lower than the previous day and below the 50-day average. The candle has a 60% green body above a long lower wick. The closing range of 98% shows a bullish day all the way into the close. There were nearly 3 advancing stocks for every declining stock. Small-caps outperformed, sending the Russell 2000 (RUT) up by +2.95%. The S&P 500 (SPX) gained +1.78% and the Dow Jones Industrial Average (DJI) climbed by +1.60%. The VIX Volatility index declined -8.13%. Energy (XLE +2.85%) and Consumer Discretionary (XLY +2.59%) led the sector list. The only two sectors to decline were Consumer Staples (XLP -0.13%) and Utilities (XLU -0.14%). The US Dollar index (DXY) declined -0.17%. US 30y, 10y, and 2y Treasury Yields all advanced for the day. High Yield (HYG) and Investment Grade (LQD) Corporate Bond Prices rose. Crude Oil Prices rebounded from yesterday's dip. Timber, Copper, and Aluminum all advanced. The put/call ratio (PCCE) dropped to 0.621. The CNN Fear & Greed Index moved back to the Fear range after dipping into Extreme Fear yesterday. All four largest mega-caps gained for the day. Microsoft (MSFT) gained +2.31%. Amazon (AMZN) rose by +2.00%. Apple (APPL) climbed +1.91%. Alphabet (GOOGL) advanced +1.32%. Only Apple is trading above its 21d EMA and 50d MA. Alibaba (BABA) topped the mega-cap list with a +6.94% gain. Nike (NKE) also climbed over 6% after exceeding expectations on earnings. Pfizer (PFE) declined -3.39% landing at the bottom of the list. Yesterday, Pfizer was the top mega-cap while Alibaba (BABA) was the bottom. The Daily Update Growth List had only two declining stocks. The biggest gainer was Sea Limited (SE), which rose +10.82%. After topping the list yesterday, Chewy (CHWY) was at the bottom of the list today, declining -2.30%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow will kick off with an update to GDP for Q3 before the market opens. After the market opens, CB Consumer Confidence for December will be available. We'll also get a look at Existing Home Sales for November and the weekly Crude Oil Inventories. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dipped after a gap-up at open, getting support at 15,000 before climbing the rest of the day to close near the intraday high. If the one-day trend line continues into Wednesday, expect a +2.32% gain. If the index returns to the high from the 11/22 high or the five-day trend line, that would mean a -1.76% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Fears over Omicron seem to be as volatile as the market. The upside reversal today is a positive sign, but don't get too comfortable too quick. We can still see a lot of up and downs, especially with the lower volume that will only get lower as we head into the final week of December. Based on the chart, the expectation for tomorrow is Sideways or Higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
3
Daily Market Update for 12/20Summary: After new lockdowns to contain Omicron in Europe and a disruption for the Build Back Better bill, indexes took another day of losses. 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=- Monday, December 20, 2021 Facts: -1.24%, Volume lower, Closing Range: 82%, Body: 33% Green Good: Lower volume on decline Bad: Lower high, lower low, load advance/decline Highs/Lows: Lower high, Lower low Candle: Short body in upper half of candle, longer lower wick Advance/Decline: 0.29, more than three declining stocks for every advancing stock Indexes: SPX (-1.14%), DJI (-1.23%), RUT (-1.57%), VIX (+6.03%) Sector List: Consumer Staples (XLP -0.65%) and Utilities (XLU -0.69%) at the top. Financials (XLF -2.41%) and Energy (XLE -2.50%) at the bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview After new lockdowns to contain Omicron in Europe and a disruption for the Build Back Better bill, indexes took another day of losses. The Nasdaq declined -1.24%. Volume was lower Friday and lower than the recent average volume. The candle is 33% green body in the upper half of the candle which has an 82% closing range. The lower wick Is longer than the upper wick. There were more than three declining stocks for every advancing stock. The S&P 500 (SPX) closed with a -1.14% decline. The Dow Jones industrial Average (DJI) fell -1.23%. Russell 2000 (RUT) dropped -1.57%. The VIX Volatility index ended the day with a +6.02% gain. All eleven S&P 500 sectors declined for the day. The defensive sectors, Consumer Staples (XLP -0.65%) and Utilities (XLU -0.69%) performed the best. Cyclical sectors Financials (XLF -2.41%) and Energy (XLE -2.50%) were at the bottom. The US Dollar index (DXY) declined by -0.17%. The US 30y and 10y Treasury Yields rose while the 2y yield declined. Both High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Crude Oil Futures dropped after new travel restrictions. Timber (WOOD) dropped sharply today. The put/call ratio (PCCE) declined to 0.673. The lower ratio says investors are betting that this is a bottom, but that doesn't mean they are right. We find that out later. The CNN Fear & Greed index moved back into Extreme Greed. All four largest mega-caps declined. Apple (AAPL) declined -0.81% but closed above its 21d EMA. Microsoft (MSFT) fell -1.20%, closing below its 21d EMA and 50d MA. Alphabet (GOOGL) also closed between the two key averages. Amazon (AMZN) dropped below its 200d MA with a -1.73% decline. Pfizer (PFE) was the top mega-cap for the day, rising +2.59%. Alibaba (BABA) landed at the bottom of the mega-cap list after losing -5.81%. Only five stocks in the Daily Update Growth List gained. Chewy (CHWY) topped the list with a +3.21% advance. Solar Edge (SEDG) was at the bottom of the list, losing -10.56%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead General Mills (GIS), BlackBerry (BB), and Rite Aid (RAD) release earnings tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dropped below 15,000 area during the day and then met resistance trying to rise back above that line. If the index returns to the trend line from the 11/22 high, that would mean a +0.83% advance for tomorrow. The five-day trend line and one-day trend line both point to a small +0.04% gain. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It's tough to tell how much of today was because of Omicron fears and how much of today was because of Manchin declaring he won't support the Build Back Better bill. Either way, these events continue to cause a lot of volatility in a skittish market. The expectation for Tuesday is lower. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
1
Nasdaq (IXIC) | The best scenario for the fallHello traders, Nasdaq (IXIC) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. By looking at the waves, Waves 1 and 2 are probably over at weekly time, and this analysis and this wave count is part of Wave 3. Wave 3, which we say is not on the Fibonacci in the weekly time, can be reversed, and only we considered this correction by counting the wave in the daily time. In daily time, waves 1 and 2 are complete and wave 3 is in excellent condition in terms of appearance, but it is not in good form compared to wave 1. Waves 2 and 4 are very similar both in appearance and correction, causing the wave count to be not normal. However, there are exceptions in the waves, we give the possibility of correction provided that the downward trend line is broken and we specify the target of this correction. If the end of wave 5 is broken, the full field analysis will not be performed, but this correction will be done at another time. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
TVC:IXICLong
by mahdisoltaninjad
1
IXIC (Nasdaq composite)The difference between IXIC and NDX is , IXIC represents all 2500 stocks listed on the Nasdaq while NDX Only represents 100 stocks. When your watching CNBC and they flash "Nasdaq" numbers they are referring to the IXIC You'll sometimes see The ixic outperform NDX and vice versa. Prime example was Friday, notice How the NDX underperformed IXIC; This can happen when let's say 2nd tier (Snowflake,Wayfair ,Twilio,Zm,roku,) Tech stocks do better than the top tier stocks (Apple,Msft,Google,NVDA,). With that being said, On this chart you'll Notice we're very close to support of a weekly channel. support is around 14900. If we fall below there chances are we're heading back to 14175, below there I would consider it a bear market . If we bounce and rally then it could mean the Nasdaq has found its second wind and 16500 we'll be the next target. In terms of structure , The IXIC is closer to weekly support than The NDX which is midway in its channel which could be the reason for the buy up of 2nd tier tech stocks. With that being said, it would be weird but plausible to see 2 tier tech stocks rally if support holds while NDX/QQQ corrects back to support. Or NDX could correct further and pull IXIC below its weekly support... Let's see what happens Divergence on RsI which I have outlined Riding lower bollingerband
NASDAQ:IXIC
by ContraryTrader
2
Daily Market Update for 12/17Summary: Small-caps outperformed the rest of the market today as investors repositioned for the holidays. The reposition and options expiration drove larger than average volume. All S&P 500 sectors declined. 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, December 17, 2021 Facts: -0.07%, Volume higher, Closing Range: 64%, Body: 40% Green Good: Support at ~15,000, high closing range Bad: Volume higher on a decline Highs/Lows: Lower high, Lower low Candle: Green body, upper wick slightly longer than lower wick Advance/Decline: 1.23, more advancing stocks than declining stocks Indexes: SPX (-1.03%), DJI (-1.48%), RUT (+1.00%), VIX (+4.86%) Sector List: Real Estate (XLRE -0.34%) and Communications (XLC -0.40%) at the top. Energy (XLE -2.04%) and Financials (XLF -2.20%) at the bottom. Expectation: Sideways or Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Small-caps outperformed the rest of the market today as investors repositioned for the holidays. The reposition and options expiration drove larger than average volume. All S&P 500 sectors declined. The Nasdaq closed down by -0.07%, unable to hold onto an intraday rally. Volume was well above yesterday's volume and the 50d average volume for the Nasdaq. The 40% green body is below a good closing range of 64%. The upper wick is longer than the lower wick, representing the pullback from the intraday high. Still, there were more advancing stocks than declining stocks for the day. The Russell 2000 (RUT) was the only index to gain for the day, advancing +1.00%. The S&P 500 (SPX) declined -1.03%, while the Dow Jones Industrial Average (DJI) fell -1.48%. The VIX Volatility Index gained +4.86%. All S&P 500 sectors declined today. Real Estate (XLRE -0.34%) and Communications (XLC -0.40%) had the smallest losses. Energy (XLE -2.04%) and Financials (XLF -2.20%) had the most significant losses. The US Dollar Index (DXY) climbed by +0.70%. US 30y and 10y Treasury Yields declined for the day while the 2y Yield rose. High Yield (HYG) Corporate Bond prices dropped. Investment Grade (LQD) Corporate Bond prices advanced. Aluminum and Copper futures rose sharply over the last two days. The put/call ratio (PCCE) rose to 0.782. The CNN Fear & Greed index moved back toward Extreme Fear but is still in the Fear range. The NAAIM money manager exposure index dropped to 52.55. Amazon (AMZN) was the only one to advance of the four largest mega-caps, gaining +0.68%. Microsoft dipped -0.34%, closing below its 50d moving average. Google (GOOGL) also closed below its 50d moving average, dropping -1.88% today. Apple (AAPL) declined -0.65%, the only of the four to remain above its 21d EMA and 50d MA. Broadcom (AVGO) was the top mega-cap for the day, gaining +2.30%. Novo Nordisk (NVO) declined -8.23% to end up at the bottom of the list. Oracle (ORCL) also had a significant decline, falling -6.39% today after rumors the company would acquire Cerner (CERN). Cerner rose almost 13% on the news. Zoom (ZM) rose to the top of the Daily Update Growth List, gaining +9.51% on news that Apple and Alphabet are delaying their return to office plans because of the Omicron variant. The growth list had more gainers than losers. At the bottom of the list was Niu (NIU), which declined -3.82%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Nike (NKE) will release earnings on Monday, one of the few large-cap reports next week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq opened with a gap down but rose through the day to close the gap, closing just below the 15,200 support/resistance area. If the index can follow its one-day trend line, that would mean a +1.32% gain for Monday. The trend line from the 11/22 high leads to a +0.15% gain. The five-day trend line would result in a -0.42% decline to start the week. Next week is a four-day week, with the markets closing on Friday for the Christmas holiday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It's a bit odd to see the advance/decline ratio above 1.0 on a day when all sectors declined. It's just more evidence that small caps ruled the day as investors moved from big tech in the continuing reaction to planned interest rate hikes in 2022. Will the small-cap trend continue? It might. The end of the year into January of the following year tends to be good for the small-cap segment. I like the intraday move higher on very high volume for the Nasdaq even though the index closed lower. The expectation for Monday is Sideways or Higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/16Summary: Investors seemed to rethink their positioning after the Fed updated the public on bond tapering and interest rates. Growth stocks and big tech saw the biggest losses, while cyclical sectors benefited. Some new fears of lockdowns around Omicron may also have contributed to the sell-off. 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, December 16, 2021 Facts: -2.47%, Volume lower, Closing Range: 12%, Body: 87% Red Good: Volume lower, higher high, higher low Bad: Deep red day, close below 21d EMA, 50d MA, and 15,200 support Highs/Lows: Higher high, Higher low Candle: Mostly red body with short lower wick Advance/Decline: 0.55, almost two declining stocks for every advancing stock Indexes: SPX (-0.87%), DJI (-0.08%), RUT (-1.95%), VIX (+6.64%) Sector List: Financials (XLF +1.26%) and Materials (XLB +1.02%) at the top. Consumer Discretionary (XLY -2.21%) and Technology (XLK -2.83%) at the bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Investors seemed to rethink their positioning after the Fed updated the public on bond tapering and interest rates. Growth stocks and big tech saw the biggest losses, while cyclical sectors benefited. Some new fears of lockdowns around Omicron may also have contributed to the sell-off. This update is much shorter than normal due to travel this week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The index dropped below the trend line from the 10/22 high. If it returns to that trend line, expect a +0.38% gain. The five-day trend line points to a -0.65% decline. If the one-day trend line continues, we could see another -2.91% decline tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Expect volatility to end the week as investors react to central bank updates around the world. We thought the Santa Rally was starting early, but it seems we'll have to endure a few days of institutional repositioning before the holidays. Expecting Lower for Friday. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
2
Daily Market Update for 12/15Summary: Markets pivoted to the upside after Jerome Powell's statements confirmed that the Fed changed its stance on inflation. Bond purchase tapering will complete in March, and we can expect three quarter-point interest rate hikes in 2022. 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, December 15, 2021 Facts: +2.15%, Volume lower, Closing Range: 98%, Body: 64% Green Good: Higher close above 21d EMA on higher volume, good advance/decline ratio Bad: Lower low Highs/Lows: Higher high, Lower low Candle: Bullish outside day, Large green body above a long lower wick Advance/Decline: 1.75, more advancing than declining stocks Indexes: SPX (+1.63%), DJI (+1.08%), RUT (+1.65%), VIX (-11.88%) Sector List: Technology (XLK +2.65%) and Health (XLV +2.05%) at the top. Materials (XLB +0.22%) and Energy (XLE -0.49%) at the bottom. Expectation: Higher -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Markets pivoted to the upside after Jerome Powell's statements confirmed that the Fed changed its stance on inflation. Bond purchase tapering will complete in March, and we can expect three quarter-point interest rate hikes in 2022. The Nasdaq closed the day with a +2.15%. The index dipped in the morning but reversed after the FOMC released its statements. That created a bullish outside day marked by the higher high and higher low. The green body covers 64% of the candle. The closing range of 98% leaves only a tiny wick compared to the long lower wick formed in the morning. There were more than three advancing stocks for every two declining stocks. The Russell 2000 (RUT) dipped to its 2021 support area before reversing to end the day +1.65% higher. The S&P 500 (SPX) gained +1.63%, closing just short of a record. The Dow Jones Industrial Average (DJI) climbed by +1.08%. The VIX Volatility Index (VIX) fell -11.88%. Ten of the eleven S&P 500 sectors gained for the day. Technology (XLK +2.65%) and Health (XLV +2.05%) were at the top of the list. Energy (XLE -0.49%) was the only sector to decline. Retail Sales for November were less than expected, growing only 0.3% month-over-month compared to 0.8% expected. The left Business Inventories and Retail Inventories higher than expected. The NY Empire State Manufacturing Index for December came in at 31.90 compared to a forecast of 25.0. The projection for interest rates by the end of 2022 is 0.90, which would come via three interest rate hikes to begin after bond purchase tapering completes in March. The US Dollar Index (DXY) declined -0.24%. US 30y, 10y, and 2y Treasury Yields all rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices increased. All four largest mega-caps gained. Apple (AAPL) rose +2.85%, nearing another record close. Microsoft (MSFT) and Alphabet (GOOGL) popped above their 21d EMA with +1.92% and +1.76% gains. Amazon (AMZN) closed above its 50d MA with a +2.50% advance. Eli Lilly (LLY) was the top mega-cap for the day, gaining +10.39% after the company updated investors, including plans for new products in the next year. Nvidia (NVDA) was the second-best mega-cap, gaining +7.49%. Alibaba (BABA) was at the bottom of the mega-cap list with a -3.25% decline. The Daily Update Growth List had mostly gainers today. Tech companies dominate the top of the list. Zscaler (ZS) was the top performer with a +8.05% climb. At the bottom of the list is Roku (ROKU), which declined -7.95%. Morgan Stanley maintained an underweight rating for the stock. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow morning will start with Building Permits, and Housing Starts data for November. We will also get the weekly Jobless Claims report and the December Philadelphia Fed Manufacturing Index. Later in the morning, Manufacturing and Services Purchasing Managers Index data will be available. Adobe (ADBE), Accenture (ACN), Rivian (RIVN), FedEx (FDX), and Jabil (JBL) will release earnings tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq closed above its 21d EMA and below support/resistance at 15,600. If the one-day trend line continues into Thursday, that will mean a +1.41% gain. If the index returns to the trend line from the 11/22 high, that would be a loss of -1.96%. The five-day trend line points to a -3.54% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Can the Santa Claus Rally begin now? Now that the Fed's outlook and plan are on the table, there are fewer unknowns for the remainder of the year. Today's bullish reaction to the Fed's statements provides an optimistic outlook for the next few weeks. The expectation for Thursday is Higher. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 12/14Summary: Indexes moved lower for a second day as investors await the result of the Fed meeting on Wednesday. The Producer Price Index recorded its biggest increase since 2010, signaling more inflation on the horizon. 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=- Tuesday, December 14, 2021 Facts: -1.14%, Volume lower, Closing Range: 64%, Body: 10% Green Good: Support at 15,100 Bad: Close below 50d moving average, decline on higher volume Highs/Lows: Lower high, Lower low Candle: Thin green body in center of candle with long wicks, signals indecision Advance/Decline: 0.4, 5 declining stocks for every two advancing stocks Indexes: SPX (-0.75%), DJI (-0.30%), RUT (-0.96%), VIX (+7.78%) Sector List: Financials (XLF +0.60%) and Consumer Staples (XLP +0.07%) at the top. Real Estate (XLRE -1.10%) and Technology (XLK -1.64%) at the bottom. Expectation: Sideways or Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Indexes moved lower for a second day as investors await the result of the Fed meeting on Wednesday. The Producer Price Index recorded its biggest increase since 2010, signaling more inflation on the horizon. The Nasdaq declined -1.14%, gapping down at open and closing below its 50d moving average line. After dipping below the 15,200 support area, buyers returned when the index neared 15,100. It climbed into the afternoon to close near the morning open. The up and down created a spinning top candle that signals indecision in the market. There were five declining stocks for every two advancing stocks. The Dow Jones Industrial Average (DJI) declined -0.30%. The S&P 500 (SPX) fell -0.75%. The Russell 2000 (RUT) dropped -0.96% and is now sitting just above the support area that the small-cap index held since February. The VIX Volatility index rose +7.78%. Only two of the eleven S&P 500 sectors gained for the day. Financials (XLF +0.60%) and Consumer Staples (XLP +0.07%) were at the top of the list. Real Estate (XLRE -1.10%) and Technology (XLK -1.64%) performed the worst. The Producer Price Index rose 0.8% month-over-month and 9.6% year-over-year. That was higher than the 0.5% monthly, and 9.2% yearly increases that analysts expected. The producer price index signals future inflation as producers will pass increased costs to consumers. The US Dollar index (DXY) gained +0.20%. US 30y, 10y, and 2y yields gained for the day. Both High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. In commodities, Timber prices dropped sharply. All four largest mega-caps declined today. Microsoft (MSFT) had the most significant loss, falling -3.26% and closing below its 21d EMA after testing the 50d MA. Alphabet (GOOGL) declined -1.32%, closing below its 50d MA. Apple (AAPL) lost -0.80% but is still near all-time highs. Amazon (AMZN) dipped below its 200d MA before recovering and ending the day with a -0.28% decline. Alibaba (BABA) was the top-performing mega-cap for the day, advancing +3.55%. Adobe (ADBE) was at the bottom of the mega-cap list, losing -6.60% after a JPMorgan Chase analyst downgraded the stock. Beyond Meat (BYND) rose +9.29% today after an analyst upgraded it from underweight to neutral on news that their relationship with McDonald's is expanding. The stock topped the Daily Update Growth List. At the bottom of the list was CloudFlare (NET), falling -9.98% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Retail Sales data for November will be available in the morning. Crude Oil Inventories will be updated after the market opens. The most important news will come after the FOMC meets and releases a statement at 2 pm that includes their economic projections and interest rate decision/projection. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq continued its slide today, closing below the 50d moving average. If the index returns to the trend line from the 11/22 high, that would mean a +0.50% gain for tomorrow. The one-day trend line points to a -0.33% decline, while the five-day trend line ends with a -0.90% loss. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up So we wait. We wait for the Fed to decide on Wednesday about the pace of Bond Purchase Tapering and Interest Rate Increases to control a crazy amount of inflation. With such a pivotal event, the trends in the chart don't matter as much. Still, I'll set an expectation for Sideways or Lower based on the current downtrend and lack of support in critical areas, including the 50d moving average. If the Fed is less hawkish than expected, we could see a nice upside reversal tomorrow. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
1
Daily Market Update for 12/13Summary: Fears over Omicron renewed caution as investors also anticipate the Fed meeting occurring this week. Defensive sectors gained for the day while all major indexes declined. 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=- Monday, December 13, 2021 Facts: -1.39%, Volume higher, Closing Range: 2%, Body: 91% Red Good: Close above the 50d MA and 15,400 support area Bad: Decline on higher volume, low closing range, tiny wicks around a red body Highs/Lows: Lower high, Lower low Candle: Mostly red body, tiny upper and lower wicks Advance/Decline: 0.41, more than two declining stocks for every advancing stock Indexes: SPX (-0.91%), DJI (-0.89%), RUT (-1.42%), VIX (+8.67%) Sector List: Real Estate (XLRE +1.34%) and Consumer Staples (XLP +1.31%) at the top. Consumer Discretionary (XLY -2.58%) and Energy (XLE -2.78%) at the bottom. Expectation: Lower -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Fears over Omicron renewed caution as investors also anticipate the Fed meeting occurring this week. Defensive sectors gained for the day while all major indexes declined. The Nasdaq fell -1.39%. The decline came with higher volume than the previous day, marking another distribution. The index sank below its 21d exponential moving average but closed above its 50d simple moving average. It also closed above the 15,400 support area. The closing range was 2%, underneath a 91% red body. There were more than two declining stocks for every advancing stock. The S&P 500 (SPX) and Dow Jones Industrials Average (DJI) had similar declines, falling -0.91% and -0.89%. The Russell 2000 (RUT) dropped - 1.42%. The VIX Volatility Index rose +8.61%. Only the four defensive sectors ended the day with gains. Real Estate (XLRE +1.34%) and Consumer Staples (XLP +1.31%) were the top performers. Consumer Discretionary (XLY -2.58%) and Energy (XLE -2.78%) had the most significant declines. The US Dollar index (DXY) gained +0.33%. US 30y, 10y, and 2y Treasury Yields retreated again on new Omicron fears. High Yield (HYG) Corporate Bond prices remained flat while Investment Grade (LQD) Corporate Bond prices advanced. Silver and gold prices gained for the day. The put/call ratio (PCCE) declined to 0.689. The CNN Fear & Greed Index moved back toward Extreme Fear but remained in the Fear range. All four largest mega-caps declined. Amazon (AMZN) closed below its 50d MA, declining -1.54% today. The other three are still above the 50d MA and the 21d EMA. Apple (AAPL) declined -2.07%. Alphabet (GOOGL) lost -1.47%. Microsoft (MSFT) fell -0.92%. Pfizer (PFE) was the top mega-cap, gaining +4.59% today after announcing they will acquire Arena Pharmaceuticals (ARNA). Arena gained +80% on the news. Nvidia (NVDA) had the most significant decline in the mega-cap list, losing -6.74% today. Peloton (PTON) gained +7.35%, topping the Daily Update Growth List. Peloton shot back at the HBO show "And Just Like That" with a digital advertisement to respond to the storyline. I won't include any spoilers here, but it's Big! The growth list is mostly losers for today. Ehang (EH) joined Nvidia at the bottom of the list with a -5.97% decline. Other Chinese stocks, including FUTU Holding (FUTU) and UP Fintech (TIGR), also declined by more than 5%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Producer Price Index data for November will be available in the morning. API Weekly Crude Oil Stock will be available after the market closes. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dipped below the 21d EMA again, finding support at 15,400 and closing above its 50d MA. The five-day trend line points to a +0.19% gain for tomorrow. The trend line from the 11/22 high points to a -0.10% decline. If the one-day trend line continues, expect a -0.54% decline for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Well, we thought Omicron fears had subsided, but news from the UK over the weekend rose the alarm again. Additionally, investors are nervous about what will come out of the Fed meeting on Wednesday, which will include projections on Interest Rate hikes for 2022-2023. Based on the chart, the expectation for tomorrow is Lower. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321