The Nasdaq is traded at 11,461, down by 0.18% when the session closed
(Last update 11:36pm EST, December 2, 2022)
Yesterday at a glance: the Nasdaq failed to recover all the way to 11,482 after dipping down to 11,300, and closed at 11,461.
On the flip side, United States Non Farm Payrolls released yesterday at 13:30 UTC is better than expected at 263,000 but down from preceding data of 284,000 according to new data.
Meanwhile, United States Unemployment Rate matched projections, with new data release of 3.7. United States CFTC S&P 500 speculative net positions released yesterday at 19:30 UTC with a figure of -204,200, while the previous figure was -191,500.
At 11,300, the Nasdaq made an initial breakout below the 3 day Simple Moving Average, an indication of a negative trend. The MACD line is significantly above the MACD signal line, meaning the medium-term trend might turn negative. The Nasdaq's upper Bollinger band at 11,734, indicating a further downward move might be next. Despite this, although the Nasdaq is down today and was as low as 11,300, it seems to be recovering slightly and climbing away from the 11,222 support line and is now 239.09 points above it.
Overall, looking at the technical analysis landscape, it seems the Nasdaq is likely to start pointing downward in the short term.
In the meantime, negative performances are also seen in other symbols, KOSPI Composite Index lost 1.84% during the session and closed at 2,434.33. Nikkei closed at 27,778 (down 1.59%).