The Nasdaq is traded at 11,400, down by 0.26% when the session closed
(Last update 8:51am EST, May 20, 2022)
A quick look at yesterday: light red: NASDAQ closed at 11,400 after ranging between 11,563 and 11,300.
Data for United States Existing Home Sales (Apr) was released yesterday at 2:00 PM; it suggested a downtrend with 5.61 million, while previous data was 5.75 million. United States Philadelphia Fed Manufacturing Index (May) released yesterday at 12:30 PM came out at 2.6, failed to live up to the expected 16, and continues its drop from the previous 17.6 figure.
Nonetheless, encouraging indicators for the Nasdaq published earlier when United States Initial Jobless Claims comes out at 218,000, better than the estimate of 200,000. This is also a step forward from the previous data of 197,000.
Chart pattern study shows the Nasdaq's immediate support is now around 11,280; its resistance level is at 12,000. In terms of trend indicators, we can see that the MACD line is significantly below the MACD signal line, meaning this medium-term trend might turn positive.
Technical analysis shows that the Nasdaq (currently on a downtrend) might reverse course and start going up in the short term.
Positive performances can be seen by looking at other symbols as HANG SENG INDEX went up by 2.96% yesterday, and closed at 20,717. FTSE went up by 1.76% yesterday, and closed at 7,431.26.