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“Nasdaq's Target is 19,500”Today, there is an expectation of a 25 basis point rate cut in the Fed meeting. By the end of the year, a total rate cut of 100 basis points is almost certain. This situation leads to a positive risk appetite being effective on the indices. On the U.S. side, retail sales increased by 0.1%. Meanwhile, industrial production in the U.S. pointed to a positivity exceeding expectations with a 0.8% rise. Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.
NASDAQ:NDX
by primequotes
NASDAQ coiling ahead of downtrend resistance In the lead-up to tomorrow FOMC meeting, and driven by various dovish news reports, the interest rate market is pricing in 40bp of cuts —raising the odds considerably of a 50bp rate cut tomorrow. The basis for this is it would be improbable for the #Fed to allow pricing to move so far towards a 50bp cut only to let markets down with a 25bp cut, risking a repeat of the vicious sell-off viewed in early August. The #NASDAQ100 's impressive rebound from the early September 18,400 low has it up nudging up against downtrend resistance at 19,600/620, which comes from the July high of 20,690. A sustained break above 19,600/20 would signal that the correction from the 20,690 high is complete and that the uptrend has resumed towards 20,690 and then 21,500. Conversely, a failure to see a sustained break above 19,600/20 would warn that the correction is set for another leg lower towards the 200-day moving average at 18,200.
NASDAQ:NDX
by IG_com
UPDATED ANALYSIS FOR NAS100NAS100 1H - Been a little quiet today with me being busy however I did suggest to look for those short opportunities in and around this area just this morning. I hope you all managed to take advantage and get involved. As you can see price is playing out very well as it stands, we are seeing price correct itself at the moment, I believe this is only temporary to trade us up and into the Supply Zone I have marked out above. Once we see price trade us up and into the Supply Zone this is where we can expect price to break down going on to create new lows and highs in the market. Its important however that we keep our wits about with this correction as the zone itself could be absorbed. If you wanted to look to apply safety measures with your positions this could be done moving SL to entry and taking partials, as we know this mitigates risk and banks profits. If you guys have any questions or need anything as always drop me a message or comment below.
PEPPERSTONE:NAS100Short
by Lukegforex
Testing Ideas - USTech 100 CFD ShortI have noticed this pattern in the past and it seemed to work. I am currently testing how ideas work so I would really appreciate constructive feedback. I am aware and know how to use the following indicators: RSI, MACD, Fibonacci, Stochastics, Bollinger Bands. DISCLAIMER: Please do not trade on this idea unless you agree with it and find more arguments for its validity. What I'm currently doing is learning how to spot patterns properly. I need to make a few mistakes. I like the tradingview ideas because I can see retroactively if it went well.
FOREXCOM:NAS100Short
by gabisuciu
3
NASDAQ Index Overview: Current Market Drivers & Future ProspectsThe NASDAQ Composite Index, known for its heavy concentration in technology stocks, has experienced a rollercoaster ride in recent months. On Monday, the index declined by 0.52%, in stark contrast to the S&P 500 and the Dow Jones Industrial Average, which both saw gains. The NASDAQ’s dip amid the broader market's positive performance highlights the ongoing volatility and shifts in investor sentiment within the tech-heavy index. Let’s take a deeper look into the drivers influencing the NASDAQ Composite. Current Fundamental Drivers 1. Interest Rate Sensitivity: The NASDAQ Composite is heavily influenced by changes in interest rates due to its reliance on growth-oriented tech companies. Typically, technology stocks thrive in a low-interest-rate environment as their future earnings become more attractive. However, with the U.S. Federal Reserve poised to cut interest rates in its next meeting, the market is eagerly anticipating how significant these cuts will be. According to the CME FedWatch Tool, there is now a 67% chance of a larger-than-expected 50 basis point cut. This possibility has drawn investor attention back to tech stocks, which are expected to benefit from reduced borrowing costs. A large rate cut could fuel another surge in technology stocks, but the sector has recently faced headwinds from profit-taking and sector rotation into financial and energy stocks. 2. AI and Semiconductor Influence: The Artificial Intelligence (AI) boom has been a key driver of NASDAQ’s gains in 2023. Notably, Nvidia, a leading player in AI-related hardware, has seen its stock rise nearly 136% this year, while Meta, which has developed its own AI model, has gained about 51%. The strong performance of these companies underscores the central role AI plays in bolstering the NASDAQ. Yet, the tech sector is not without challenges. Nvidia, despite being a linchpin of the AI movement, fell 1.95% on Monday, with broader semiconductor stocks also declining. The VanEck Semiconductor ETF, which tracks chipmakers, dropped by 1.31%. This indicates that while AI remains a powerful force, the sector’s performance is susceptible to short-term volatility and broader market conditions. 3. Global Factors: International developments have also played a role in the NASDAQ’s performance. For example, Japan's Nikkei 225 fell by 1.03% as the yen strengthened against the U.S. dollar, while Hong Kong’s Hang Seng index rose 1.15%, signaling mixed sentiment in the Asia-Pacific markets. These fluctuations impact U.S. tech stocks, as many are global companies with exposure to international markets. The strengthening Japanese yen has been particularly significant as it can affect U.S. exports, including high-tech products, reducing profitability for tech giants that rely on global sales. The Bank of Japan’s upcoming policy decisions in October and December could further influence currency fluctuations and global tech performance. Technical Analysis From a technical perspective, the NASDAQ Composite remains in a precarious position. As of this writing, the index is down by 0.47%, and the technical indicators offer a mixed picture of where it could be headed. 1. RSI Momentum: The Relative Strength Index (RSI) for the NASDAQ currently stands at 55.48. This suggests that the index has room for further upward movement, but is hovering in a neutral range. The RSI hasn’t entered the overbought zone, indicating that while the index has potential for growth, it could face resistance as it approaches key levels. 2. Trend Channel and Support Levels: The NASDAQ Composite has been trading within a rising trend channel since the fourth quarter of 2023. The index’s ability to maintain its position within this channel is crucial for its continued growth. The 16,000 pivot level serves as a significant support point. A breakdown below this level could catalyze a bearish move, leading to a potential reversal of the recent gains. Investors and traders are keenly awaiting guidance from U.S. Federal Reserve Chair Jerome Powell, whose upcoming speech could provide critical insights into the Fed’s policy outlook. Any hawkish comments or signs of hesitancy in cutting rates may weigh heavily on the NASDAQ, especially given its reliance on lower borrowing costs. 3. Sector Rotation and Divergence: One notable observation is the sectoral shift from technology stocks into other parts of the market. On Monday, financial and energy stocks outperformed, with both sectors rising by over 1%. This divergence reflects the broader trend of investors reallocating capital in anticipation of lower rates. Financial stocks, in particular, have been beneficiaries of this rotation, as hedge funds made their largest purchases of financials since June 2023, according to Goldman Sachs. Outlook and Conclusion In summary, the NASDAQ Composite is at a crossroads, with fundamental and technical forces pulling in different directions. On the one hand, the prospect of significant interest rate cuts could revive enthusiasm for tech stocks, while on the other, the index’s technical indicators suggest caution, especially if it breaks below the critical 16,000 support level. For investors, the upcoming Federal Reserve meeting will be pivotal. If the central bank delivers a larger-than-expected rate cut, the NASDAQ could rally, with AI and tech stocks leading the charge. However, any disappointment from the Fed could trigger further sector rotation, pushing investors toward less volatile sectors like financials and energy. As always, in periods of uncertainty, it’s essential to stay vigilant and monitor both market fundamentals and technical indicators to navigate the path ahead. The NASDAQ’s next move will depend not only on economic data and Fed policy but also on the evolving trends in AI and global markets.
NASDAQ:NDX
by DEXWireNews