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US Composite Index

17,928.92USDR
+0.780.00%
At close at May 9, 23:22 GMT
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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.
NShort
by Ceneon
1
Nasdaq Composite will now probably see a correction of 7-12%.Clear technical signals have now been given that a major correction may come within a short time for one of the world's most important stock market indices, The Nasdaq Composite Index (^IXIC) in the USA We all know that there will occasionally be some slightly larger corrections of typically between 7-12 per cent, and even if the underlying trend for indices or shares can be positive. Now the time may have come for this type of correction, and for the very important American stock market index Nasdaq Composite. Technical Analysis of the Nasdaq Composite Index (^IXIC) If we look at the weekly charts for the Nasdaq Composite (^IXIC), a clear sell signal was given in the last week from a 'shooting star' pattern in the weekly candlestick chart for the Nasdaq Composite. What reinforces this sell signal is that the Nasdaq Composite is now both right up against the resistance level at upper trend line in the long-term rising trend (cf. chart), and at the same time various momentum indicators (weekly charts) show a heavily overbought situation for the Nasdaq Composite. The overall technical picture for the Nasdaq Composite now indicates that this one of the world's most important stock market indexes, the Nasdaq Composite, may be facing such a 'typical' correction which comes in at around 7-12 per cent down, and within the rising trend. In any case, no one should be very surprised if such a correction were to occur in the coming weeks and months for the Nasdaq Composite Index (^IXIC). According to the long-term rising trend that the Nasdaq Composite Index (^IXIC) is moving within (cf. chart), a correction down to somewhere around 16,000 - 17,000 is now being signaled for the Nasdaq Composite. On Friday 12 July 2024, the Nasdaq Composite ended at 18,398. So if there should now be a correction down towards 16,000 - 17,000 for the Nasdaq Composite, it would therefore mean a correction of precisely around 7-12 percent down from today's level at 18,398.
NShort
by StockCharts365
3
The Nasdaq Composite could fall a further 50 percent.There was a not entirely unexpected correction down here for the Nasdaq Composite, and now the million dollar question is, what now and where will the Nasdaq Composite go from here and now? The answer to that we all wish we had, but no one does. When the market is very volatile and unsettled, as it has been in recent days and weeks, I tend to put on the long glasses and focus on the bigger picture for stocks and indices. I have now done that here with the Nasdaq Composite today and after recent days of turbulence on the stock exchanges around the world, and for the Nasdaq Composite. It is fear of a recession that is plaguing the markets now, and there are many fundamental key figures that speak for the possibility of a recession, but the positive thing is that recessions do not usually last forever, but it can be brutal on the stock exchanges while standing for a few quarters. Back to this with looking at the slightly bigger picture, and here for the Nasdaq Composite index. Here a weekly chart and with a 200-week moving average. It is known to everyone that the 200-day moving average on the daily chart is very popular and very widely used in technical analysis. However, not many people see the value of using a weekly chart with a 200-week moving average. I have marked here all the way back to 1985 and shown quite clearly I would think that, as here for example the Nasdaq Composite, such corrections sometimes get down to the 200-week moving average, and very often turn up again from there. But not always, and that is marked with green arrows here. The question we are all asking ourselves now is, of course, what now? Where will the market and the Nasdaq Composite go from here on out? Personally, I think we are not done with the correction we are in here now, and I imagine that there will likely be a test of the 200-week moving average and down towards the lower trend line in the marked long-term rising trend here (blue lines). If that happens, it means that the Nasdaq Composite will go down to around 14,000 points or thereabouts before this correction is over, maybe over. Should there be a break below the 200-week moving average, then we might see such a bigger drop and perhaps all the way down towards around 8,000 points for the Nasdaq Composite. So a drop of around 50% from Monday's level around 16,200 points. My experience over 35 years is that when the market gets such extreme volatility as now, and for example the Nikkei index falls 12 percent one day and rises 10 percent the next. Then my experience is that it is often not over so suddenly and then everything is just as before and well and good again. So I don't have a definitive answer here, and neither does anyone else, and about where the markets and the Nasdaq Composite index are going to go from here on out. I need to at least see that it actually takes around these levels and a little more than a day or two. As you know, it is often a bad idea to catch a falling knife. I am, as my analysis shows here today, yes, I am now uncertain, and I am certainly not alone in being so. I'm inclined to think we're not done with this correction yet, and envision us going down and testing the 200-week moving average and lower trendline in the long-term uptrend for the Nasdaq Composite. We all see that historically such corrections come down to the 200-week moving average from time to time, and that there are often good buying times around those levels. So if the Nasdaq Composite gets down to around 14,000 points or thereabouts and down towards the 200-week moving average and lower trendline in the long-term uptrend, then yes, I would be more comfortable buying than where we are now. I also see a danger that we get a break down below the 200-week moving average, and then there could be a fall all the way down to the 8,000 level for the Nasdaq Composite as I consider it. Just sharing my thoughts here and what I think, but by all means, I'm not sure of my case here, but I think the Nasdaq Composite will go down to around the 14,000 level, and maybe even down to around the 8,000 level. I will come back with follow-up analyzes in the future here, both around the Nasdaq Composite and other indices and shares. I would recommend everyone to adopt and look at 200-week moving averages for both stocks and indices in their analyses. You will soon see that it is well worth keeping an eye on, and it is not quite rare that things turn from there during the major corrections.
NShort
by StockCharts365
THE FREAKY SEVEN IS SET TO CONTINUE ITS CHEMICAL TRIP. SOON...US stock indexes closed mixed on Monday as investors awaited a massive wave of data this week. 171 companies within the S&P 500 are set to report their second-quarter earnings results this week, and expectations are high given the Nasdaq Composite (IXIC) 16% year-to-date rally. Some of the biggest companies including Apple, Microsoft, and Amazon will report results this week. I won't sing you lullabies about expected numbers. The major technical graph indicates that 50-Day SMA already done & fully retested. The next one chase is IXIC 125-Day SMA & all the way below, as much as it possible.
N
by PandorraResearch
NASDAQ Composite - The Momentum Will Continue Till 19,250(1) After a notable increase, the price reached the 16,200 level before facing a sharp decline of approximately 37%. (2) Following this, the price found solid support near the 10,150 level and started to climb again. (3) After a two-year consolidation period, the price finally broke through its resistance level and surged upwards. (4) A Cup & Handle pattern emerged on the weekly chart, suggesting a continuation of the upward trend. (5) Currently, the price is at its all-time high, nearing a potential resistance level around 19,250.
N
by NaranjCapital
Sine Curves and NasdaqSharing a quick chart art analysis of sine curves over the Nasdaq. If this kind of pattern continues, we should see the start of a sideways move over to the second half of the sine curve after which, the move to the top continues. If the pattern holds true, we can expect a retracement in the 40% to 30% range sometime in an 18 month timeline. Short and BTFD on the transition across during the Summer Long in the Autumn for the final leg up Note that the first two sine curves complete on a 2 year schedule and are part of a similar inflation regime. This current sine curve looks set to extend to 4 years with significant inflationary attributes. I think this is interesting because it is not a click bate doom scenario nor is it a full guns blazing BTFD scenario. Anyhoo... it's chart art. Take it for what it is.
NLong
by coremonster