Nasdaq: Does the Outlook Remain Negative?

www.investing.com/analysis/nasdaq-does-the-outlook-remain-negative-200633232

By Jason Sen | Dec 07, 2022 06:25AM ET

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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.

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US 30	33,617.9	-99.2	-0.29%
US 500	4,006.4	-11.4	-0.28%
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	20.42	+0.48	+2.41%
Dollar Index	102.302	+0.216	+0.21%

Crude Oil WTI	76.67	-1.23	-1.58%
Brent Oil	83.31	-1.19	-1.41%
Natural Gas	2.639	-0.038	-1.42%
Gold	1,902.80	-20.10	-1.05%
Silver	23.165	-0.568	-2.39%
Copper	4.1277	-0.0743	-1.77%
US Soybeans	1,529.00	-5.00	-0.33%

U.S. 10Y	3.522	-0.029	-0.83%
U.S. 30Y	3.636	-0.024	-0.65%
U.S. 5Y	3.6448	-0.0380	-1.04%
U.S. 3M	4.7090	+0.0480	+1.03%
US 10Y T-Note	114.50	+0.22	+0.19%
Euro Bund	136.96	+0.33	+0.24%
10-2 Yield Spread	-69.58	-1.09	1.59%

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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%

Nasdaq: Does the Outlook Remain Negative?

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