Breaking News

Nasdaq: A Break Higher Is A Buy Signal

By Jason SenStock MarketsSep 12, 2022 07:50AM ET

www.investing.com/analysis/nasdaq-a-break-higher-is-a-buy-signal-200629688

By Jason Sen | Sep 12, 2022 07:50AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

ESH3

-0.09%

Add to/Remove from Watchlist

NQH3

-0.29%

Add to/Remove from Watchlist

1YMH3

-0.09%

Add to/Remove from Watchlist

E-mini S&P September beat strong resistance at 3985/95 to target strong resistance at 4060/80. A high for the day exactly here in fact.

Nasdaq September futures longs at support at 12100/12000 worked perfectly on the bounce to my target of 12400/450 for profit taking. We then hit strong resistance at 12600/700, with a high for the day exactly here.

E-mini Dow Jones September futures hit my next target and strong resistance at 31700/800 but we continued higher to the next target of 32200/300.

Remember when support is broken it usually acts as resistance and vice-versa.

Today's Analysis

E-mini S&P making a break above strong resistance at 3985/95 to target strong resistance at 4060/80. Anyone make 60-70 points profit on a long? Shorts need stops above 4095. A break higher targets 4130/40 and possibly 4155/60.

Shorts at strong resistance at 4060/80 target 4035/30. If we continue lower look for strong support at 4005/3995.

Nasdaq longs at 12100/12000 worked as we hit 12400/450 for profit taking, then made a high for the day exactly at strong resistance at 12600/700. Shorts need stops above 12750. A break higher is a buy signal targeting 12850 and 13000/13100.

Shorts at strong resistance at 12600/700 target strong support at 12400/350. Longs need stops below 12300.

E-mini Dow Jones beat resistance at 31700/800 for a high for the day at the next target of 32200/300, perhaps as far as 32500/600 this week.

Holding minor resistance at 32200/300 risks a slide to 32000 and perhaps as far as 31850/750 for profit taking.

Add a Comment

Has a New Bull Arrived? By David Moenning - Jan 30, 2023 6

In last week's meandering market missive, I opined that, "the next major trend - in either direction - is likely to be driven by the outlook/expectation for the state of the...

U.S. Real Estate Stocks Led Broad Rally Across Markets Last Week By James Picerno - Jan 30, 2023

Most of the major asset classes scored gains last week, led by US real estate investment trusts, based on a set of ETFs through Friday’s close (Jan. 27). Vanguard Real Estate...

Economic Data, Earnings and the Fed Could Sink Stocks this Week By Michael Kramer - Jan 30, 2023 7

This will be a huge week for markets, with an FOMC meeting, a slew of economic data points, and a big week in earnings. The show stopper will be the FOMC meeting, where the Fed is...

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

More Categories

1D1W1M6M1Y5YMax

US 30	33,713.0	-4.1	-0.01%
US 500	4,017.7	-0.1	0.00%
Dow Jones	33,717.09	-260.99	-0.77%
S&P 500	4,017.77	-52.79	-1.30%
Nasdaq	11,393.81	-227.90	-1.96%
S&P 500 VIX	19.94	+0.00	+0.00%
Dollar Index	102.105	+0.019	+0.02%

Crude Oil WTI	77.53	-0.37	-0.47%
Brent Oil	84.16	-0.34	-0.40%
Natural Gas	2.683	-0.001	-0.04%
Gold	1,914.25	-8.65	-0.45%
Silver	23.523	-0.210	-0.88%
Copper	4.1647	-0.0193	-0.46%
US Soybeans	1,537.12	+3.62	+0.24%

U.S. 10Y	3.544	-0.007	-0.20%
U.S. 30Y	3.658	-0.002	-0.06%
U.S. 5Y	3.6656	-0.0170	-0.47%
U.S. 3M	4.7505	+0.0900	+1.92%
US 10Y T-Note	114.38	+0.09	+0.08%
Euro Bund	136.71	+0.08	+0.06%
10-2 Yield Spread	-69.58	-1.09	1.59%

Apple	143.00	-2.93	-2.01%
Alphabet A	96.94	-2.43	-2.45%
Tesla	166.66	-11.24	-6.32%
Amazon.com	100.55	-1.69	-1.65%
Netflix	353.11	-7.66	-2.12%
Meta Platforms	147.06	-4.68	-3.08%
Bank of America	35.30	-0.15	-0.42%

	Interest Rates	Next Meeting
FED	4.50%	Feb 01, 2023
ECB	2.50%	Feb 02, 2023
BOE	3.50%	Feb 02, 2023
SNB	1.00%	Mar 23, 2023
RBA	3.10%	Feb 07, 2023
BOC	4.50%	Mar 08, 2023
RBNZ	4.25%	Feb 22, 2023
BOJ	-0.10%	Mar 10, 2023
CBR	7.50%	Feb 10, 2023
RBI	6.25%	Feb 08, 2023
PBOC	3.65%
BCB	13.75%	Feb 01, 2023

Nasdaq: A Break Higher Is A Buy Signal

Today's Analysis

Related Articles