(News Bulletin 247) – Succession of very nervous sessions around 12,000 points on the Nasdaq Composite, which ended last week with a session in the red (-2.47% to 12,012 points), penalized in particular by emblematic heavyweights like Apple (-3.86% to $145.38) or Tesla (-9.22% to $703.55), amid fears of monetary policy tightening, and after the warning on results from Microsoft. However, the federal NFP (Non Farm Payrolls) report, published on Friday at the statistical high point of the week, did not send any signals of additional tension on the job market.
The heart of the matter in the trading rooms clearly remains particularly high inflation, the question of an inflation peak or a plateau, and the corollary fears of a growing aggressiveness in the tightening of the monetary tap by the Fed. Fed which will have new valuable indicators at the end of the week with the various CPIs (consumer price indices).
To be continued on the Tesla stock side, whose current volatility is in the light of the bad feelings of its founder E Musk on the economic situation.
KEY GRAPHIC ELEMENTS
The narrow trading range that we identified between 13,330 and 13,838 points was broken under conditions of volumes, volatility, and very significant candles. The marubozu plotted on Thursday 04/21 shows in particular a mobilization of the selling side throughout the session, until a close almost exactly on the low points, opening the way to a bearish target CT at 12,640 points. The latter was broken, after a hesitantly nervous hesitation on the second part of week 17. warnings then lit up and have not gone out permanently since. the harami envisaged on Monday has not been validated, and the relatively large candle, by its lower shadow, can serve as a framework for the start of a short-term bearish inflection. The reintegration of the lower part of the 20-day moving average (in dark blue), not yet relevant, would bring a clear bearish message.
FORECAST
In view of the key chart factors that we have identified, our opinion is neutral on the Nasdaq Composite index in the short term.
We will take care to note that a crossing of 12140.00 points would revive the tension in the purchase. While a break of 11200.00 points would relaunch the selling pressure.
CHART IN DAILY DATA
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