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Nasdaq 100 Technical Analysis - Nasdaq 100 Trading: 2021-01-05
Nasdaq Index Technical Analysis Summary
Below 12450
Sell Stop
Above 13050
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Nasdaq Index Chart Analysis
Nasdaq Index Technical Analysis
On the daily timeframe, Nd100: D1 is correcting downward from the all-time high. It broke down the support line of the triangle and the short-term uptrend. A number of technical analysis indicators have generated signals for further decline. We do not exclude a bearish movement if Nd100 falls below the last lower fractal: 12450. This level can be used as an entry point. We can place a stop loss above the last upper fractal, all-time maximum, upper Bollinger line and Parabolic signal: 13050. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (13050) without activating the order (12450), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Indices - Nasdaq Index
The results of the 2nd round of US Senate elections, which will be held on January 5, 2021, may cause a correction in the US stock market. Will the Nd100 quotes drop?
Republican and Democratic parties have nominated two candidates each for the Senate elections, which is the upper house of the US Congress. Recall that the lower house of the US Congress is called the "House of Representatives", where the Republicans formed a majority. Investors fear that if the Democrats win the Senate elections, the US Congress may reconsider the funding sources for the already approved $2.4 trillion economic stimulus program. In particular, corporate taxes may rise. This may have a negative impact on the stock market. Another negative factor was the continued growth in the number of coronavirus cases in the United States, despite the creation of several vaccines. On Sunday, their number exceeded 125.5 thousand people per day for the first time.
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