(News Bulletin 247) – The Nasdaq Composite index is now propelled against the upper limit of a wide range, a limit clearly identified at 11,450 points. The test is important, and can determine the pace of the oscillations for the coming weeks Already well helped by Netflix (+8.46%) and Alphabet-ex Google (+5.34%), the Nasdaq Composite will have finished on Friday on the hats (+2.66%) a “sensational” week , where volatility will have dominated.On Monday, gains were 2.01% to 11,364 points.
The distribution and streaming video production giant pleasantly surprised by the publication of its quarterly recruitment of subscribers, while the second cynically reaped the profits on the stock market from its announcement of massive job cuts (12,000) , following in the footsteps of other tech behemoths (Meta, Microsoft and Amazon). Microsoft which, let us specify, must publish, after the market.
“Markets have rallied since the start of this year, driven by the re-opening of the Chinese economy, falling energy prices and slowing inflation. a soft landing of the economy are increased, as well as those of a significant drop in inflation and interest rates.” for the experts of the BlackRock Investment Institute, who wish to make the following warning, which the long-term investor will be able to ignore: “The markets remain however vulnerable to unpleasant surprises and do not seem fully prepared for the onset of recessions.” .
To be monitored at 3:45 p.m. the PMI activity indicators in the United States (1st estimates for the month of January) and at 4:00 p.m. the manufacturing index of the Richmond Fed.
KEY GRAPHIC ELEMENTS
We are now witnessing the major test of the upper limit of a wide range at 11,450 points. The observation at this stage of the volumes, the pace of the candles, the volatility, and the sectoral federation will be essential to characterize the test.
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 11450.00 points would revive the tension in the purchase. While a break of 10250.00 points would relaunch the selling pressure.
CHART IN DAILY DATA
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