Nasdaq Composite
Analysis

The Nasdaq Composite opened the week as anticipated
with a small bounce as the chance sentiment improved given no escalation on the
radar and restricted operations inside Gaza. The calendar yesterday was empty, so
there wasn’t something that would affect the market on the info aspect. Looking
ahead, we’ll get many necessary financial releases beginning in the present day with the
shopper confidence and wages information.

Nasdaq Composite Technical
Analysis – Daily Timeframe

On the every day chart, we are able to see that the Nasdaq
Composite yesterday pulled again proper into the damaged backside trendline and the
blue eight shifting common. This is
the place we are able to anticipate the sellers to step in with an outlined threat above the
trendline to place for a drop into the 12274 help. The
consumers, then again, will wish to see the value breaking above the
trendline to extend the bullish bets and begin focusing on the 13174
resistance.

Nasdaq Composite
Technical Analysis – four hour Timeframe

On the four hour chart, we are able to see that the value is
now at an important resistance zone the place we are able to discover the confluence with the
minor downward trendline and the Fibonacci retracement ranges.
This will seemingly be a “break it or make it” second for the index.

Nasdaq Composite Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we are able to see extra
carefully the bearish setup with the resistance zone highlighted by the blue field.
More conservative sellers might wish to anticipate the value to interrupt beneath the
counter-trendline earlier than becoming a member of an eventual selloff, however the threat to reward
can be worse at that time. If the value breaks above the resistance although,
the bearish setup can be invalidated, and the consumers will achieve extra
conviction to focus on the 13174 stage.

Upcoming
Events

This week, we’ll get plenty of tier one information factors with
the US labour market and the FOMC resolution in focus. Today, we’ve got the US
Employment Cost Index and the Consumer Confidence report. Tomorrow, it is going to be
the time for the US ADP, the ISM Manufacturing PMI, the US Job Openings information
and the FOMC fee resolution. On Thursday we’ll get the US Jobless Claims information,
whereas on Friday we conclude the week with the US NFP report and the ISM
Services PMI.