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Nasdaq On the Brink of a Larger Collapse? Watch This Support

ByChris Kimble
Published 01/06/2023, 01:46 PM
Updated 07/09/2023, 06:31 AM

Despite a 33% decline in the Nasdaq, this key stock market index remains inside of this 13-year rising channel.

Barely.

Today’s long-term weekly chart of the Nasdaq Composite index highlights just how tenuous the bull market is right now. And why investors need to stay focused.

Looking at the chart below, you can see that the 13-year rising channel has proven to be an enduring bull market run -- but is this run over? The coming days/weeks could decide the Nasdaq’s fate.

NASDAQ Composite Weekly Chart

With the Nasdaq currently trading below its 200-week moving average, it is imperative that the rising trend channel support holds. If not, the decline potential is large. Stay tuned.

Latest comments

Scaremongering journalist idiots
Can anyone explain why we should care about the chart of an index that changes every year? In this case 13 years of index changes dropping losers and adding winners? The comparison is not even the same companies anymore, revenues are vastly different as are profits so doesnt common sense tell you we should be vastly higher when you remove the duds and add the winners? Chart should be up just about always. Apple was what $.30 in 2000 now $140 after multiple splits 2/7&4 and in 2020 they along with 6 other companies made up 50% of the nasdaq value! 6 companies made up 50% in 2020 so comparison is apples to oranges in my view and I just cant wrap ny head around it. Maybe someone can tell me what im missing and why i should care what the chart now vs 2013.
I need TP for my bunghole if this actually happens.
he said bung hole. cornholio
je. m'appèlle. fabienne. pochette. nimwo whtssp. 38689194
nasdaq is toast - this trend will break the channel shortly
CPI is coming out Thursday. Do you have the sack to short the nadaq before it comes out?
There are many individual stocks and commodities for that matter that have lost large portions of their value in the last couple years all warning signs that whole indexes may be next along with more commodities. Depends on how eager the fed is to pump these up to keep these long in the tooth trends intact.  My money is on them failing even if they try
Thats your fear talking
funny
I think will see more short price run up,but far from a clear cut bull market.I think price going forward may pull back to the lower range going forward these next few weeks to come.
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