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The Nasdaq Composite index, stable on Friday closing at 13,761 points, should open in the green this Monday, at the dawn of a week rich in major economic statistics on inflation and consumption. All this against a backdrop of hope for the positive impact of recent economic recovery measures in China.

The statistical high point will be reached on Wednesday across the Atlantic, with consumer price indices expected to increase annually by +3.6% for the broadest base of products.

The Fed concludes its Board of Governors meeting next week. A status quo on rates is by far the most likely option, or at least the one most expected by the market. For Vincent Boy (IG France), “investors increasingly anticipate high Fed rates for a long time, but seem to no longer expect an increase from the central bank. Furthermore, the prospect of a “soft landing”, again confirmed by Janet Yellen this weekend, allows the markets to remain solid despite the risks.”

To be continued on the Tesla value side, in the wake of an increase in opinion from an influential analyst. To be continued, Qualcomm and Apple have signed a contract to supply mobile chips for three years.

KEY GRAPHIC ELEMENTS

The underlying trend, powerfully upward, is naturally not called into question at this stage by the technical and graphic tools. However, engaging in a broad consolidation phase, more engaging than a simple correction, is a scenario whose credibility rests on the formation of a characteristic double top in the month of July, and by the messages sent by the candles in the very construction of this double summit: marubozusencompassing, dojis. The candle in marubozu black school on Thursday 24/08, coupled with a bearish all-encompassing combination, broke the timid momentum of week 34.

If the 14,150 points were to constitute a monthly high point, the double peak mentioned above would then be flanked by two intermediate points. The graphic situation would be deteriorated.

The 13,240 are identified as a weakened technical safeguard.

FORECAST

Based on the key chart factors we have mentioned, our view is positive on the Nasdaq Composite Index in the short term.

This bullish scenario is valid as long as the Nasdaq Composite index is trading above support at 13240.00 points.

News Bulletin 247 advice

Nasdaq Composite
Positive
Resistance(s):
–
Support(s):
–

DAILY DATA CHART

Graph created from the software Prorealtime

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