Breaking News
Investing Pro 0
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER

Nasdaq: Does the Outlook Remain Negative?

By Jason SenStock MarketsDec 07, 2022 06:25AM ET
www.investing.com/analysis/nasdaq-does-the-outlook-remain-negative-200633232
Nasdaq: Does the Outlook Remain Negative?
By Jason Sen   |  Dec 07, 2022 06:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
NDX
-2.09%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ESH3
-0.29%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
1YMH3
-0.29%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
  • S&P 500 December futures shorts at strong resistance at 4090/4110 are working exactly as predicted.
  • Nasdaq 100 December shorts are working with the break below 11750/700 yesterday, as predicted.
  • Emini Dow Jones futures break support at 33850/800 for a sell signal.

Emini S&P December collapsed from strong resistance at 4090/4110, hitting my target of 3970/50 and strong support at 3930/10. The low of the day was at the exact high and low for the move so far, as predicted a few days earlier. The bounce from 3930/10 meets strong resistance at 3960/70. A high for the day is likely. Shorts need stops above 3690.

Support at 3930/10 is not expected to hold forever. A break lower on a second or third test is obviously a sell signal targeting 380/70 and then 3820/10.

Nasdaq December breaks 11750/700 as predicted to hit my next target of 11550/500, with a low for the day exactly here. However, further losses are expected to 11250. Below 11200, look for 11000/10950.

The outlook remains negative, of course, so gains are likely to be limited with the first resistance at 11630/690. Shorts need stops above 11770.

Emini Dow Jones breaks support at 33850/800 for a sell signal targeting 33600 and support at 33300/200. A low for the day is possible, but longs are riskier in the bear trend. A break below 33000 is a sell signal targeting 32750/700.

Gains are likely to be limited with resistance at 33800/900. Shorts need stops above 34000.

 

Nasdaq: Does the Outlook Remain Negative?
 

Related Articles

Nasdaq: Does the Outlook Remain Negative?

Add a Comment

Comment Guidelines

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.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
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.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
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.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email