Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

NASDAQ Erases 7 Months Of Gains With Sharp Decline. Is It Just Getting Started?

By Chris KimbleMarket OverviewJan 25, 2022 11:07AM ET
www.investing.com/analysis/nasdaq-erases-7-months-gains-with-sharp-decline-is-it-just-getting-started-200615894
NASDAQ Erases 7 Months Of Gains With Sharp Decline. Is It Just Getting Started?
By Chris Kimble   |  Jan 25, 2022 11:07AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

The tech wreck has been fast and furious. And considering that the stock market correction is still relatively new, we really don’t know if it will end soon or carry on for weeks or months.

Today’s chart is linear and takes a long-term monthly view. As you can see, the NASDAQ Composite Index registered a bearish monthly reversal at the top of the channel at (1).

NASDAQ Composite Monthly Chart
NASDAQ Composite Monthly Chart

And in the first 21 days of the year, this broad index of technology stocks has wiped out the prior seven months of gains!

This shows up in that gigantic engulfing price candle at (2). The selling has been fast and furious, so a bounce could come anytime. But this ominous candle should at least be a reason to proceed with caution in the weeks ahead.

The long-term trend is up. But stocks can still face severe corrections even in an up-trend. With this in mind, it is always good to mind bearish reversal patterns. Stay tuned.

NASDAQ Erases 7 Months Of Gains With Sharp Decline. Is It Just Getting Started?
 

Related Articles

NASDAQ Erases 7 Months Of Gains With Sharp Decline. Is It Just Getting Started?

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.

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.
Comments (8)
Thomas Neumann
Thomas Neumann Jan 25, 2022 11:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chris, seriously?
Sidney Glover
Sidney Glover Jan 25, 2022 9:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I agree with Magnum this is one of the worst articles Even a carnival psychic would have something more substantial. more rubbish than a full garbage truck. the stock is a gamblers paradise now with nothing technical or financial logic. These charts are just kiddie drawings.
Bob Silva
Bob Silva Jan 25, 2022 6:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stonks only go up
Magnum Dong
Magnum Dong Jan 25, 2022 4:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what a terrible article
Jan 25, 2022 4:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Yes. Many people like me sitting in cash seeimg real estate and stocks over priced
Gerard Bufort
Gerard Bufort Jan 25, 2022 4:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
3 last months were not so difficult to erase ....
katya litski
katya litski Jan 25, 2022 3:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thanks biden
Mike Lee
Mike Lee Jan 25, 2022 2:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nice Chart, thanks
 
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