Nasdaq 100: Highs & Trendline Resistance
- The recent period has been challenging for equity bears, with a shift occurring around April 7.
- The Nasdaq is nearing its lifetime high set in February but remains below its broken trendline.
- The Semiconductor Index is approaching Fibonacci resistance and an area of overhead supply.
The Nasdaq 100 is on the cusp of a potential breakthrough! Bulls are eyeing lifetime highs, but the index faces critical trendline resistance. A sustained move above this level coudl definitively quash bearish forecasts. We analyze the small-cap Russell 2000,which shows strength despite its bearish setup,and the Dow jones Transportation Average,revealing bearish signals,in a comprehensive market trend assessment. The Semiconductor Index faces Fibonacci resistance while the Dow Utilities Index holds its ground. With volatility declining and precious metals’ rally possibly ending, News Directory 3 provides this vital market insight. What do these signals suggest for investors next? Discover what’s next …
Stock Market Trends: Bulls Eye Lifetime Highs, Bears Retreat
The recent period has been challenging for equity bears, with a shift occurring around April 7. The “Trade War Bear Market” is considered to have lasted a mere two days and one minute, specifically from Thursday, April 3, to the first minute of Monday, April 7.
The Nasdaq is nearing its lifetime high set in February but remains below its broken trendline. Surpassing this trendline coudl negate bearish expectations for the coming months. the small-cap Russell 2000 demonstrated strength, yet it remains in a bearish configuration, close to its counter-trend peak.
The Semiconductor Index is approaching Fibonacci resistance and an area of overhead supply. A breakthrough by the Nasdaq above its trendline would likely overcome this resistance. However, the Dow Jones Transportation Average presents a bearish picture, with its chart indicating clear short-term resistance.
The Dow Utilities Index is holding onto its broken trendline. Meanwhile, the Volatility Index has fallen significantly, potentially dropping further. Precious metals have performed well, but their current position suggests the rally may be nearing its end. The topping pattern for Oil remains intact despite recent strength.
What’s next
Despite some bearish signals, recent market strength, particularly in semiconductors and oil, has tempered bearish expectations.The bulls have maintained control since April 7, and it would require significant weakness for the bears to regain the upper hand.