Despite the plunge in the stock market, the Nasdaq has recovered all its losses and make fresh new highs. This is really good for the stock market.
A stock market that is lead by tech is usually a good sign. When tech leads, the Dow and S&P will most likely be making new highs in the near future.
The chart above shows the daily chart of the Nasdaq Composite index.
What a ride it has been. From a big plunge to recovering all the losses and then making new highs. This is really a superb recovery for the stock market. With techs now leading the markets, there is a high possibility that Dow and S&P will follow Nasdaq to make new highs.
In the recent 2 days analysis, I have highlighted how the techs and semis that lead will be good for the market. Even the Dow and S&P is breaking out of a triangle in the daily chart.
Do go and check out the US stock market analysis page and watch the Youtube videos for a more in depth analysis.
At this moment, if Nasdaq continues to move higher, the area that I have drawn will be a new area of support for the techs. Join me everyday as we study the US market and try to figure out where it wants to go.
Jan 08, 19 05:35 AM
Is the market ready for a fresh new start for 2019 and will this be a recovery and start of a new rally. Let's take a look at the charts.
Dec 03, 18 08:16 AM
With an agreement to pause the trade war, Dow is about to jump 450 points higher, but will this rally sustain and go even higher? Lets take a look at the charts.
Nov 29, 18 07:51 AM
Yesterday we saw a huge big rally 600 ++ points. The question now is this rally sustainable and will we have a beautiful Christmas in the stock market this year. Here are a few things to look out for…
Nov 29, 18 07:35 AM
This sideways movement in the KLCI is really giving investors and traders a headache. What we are experiencing now is a volatility contraction which is often followed by volatility expansion.
Nov 26, 18 08:52 AM
As the techs reach an area of long term support, its going to be a choppy ride as the market decides whether support will hold or the downtrend continues...