The Nasdaq closed at 12,500 yesterday after 4th straight days of drops
(Last update 6:41am EST, August 10, 2022)
Yesterday at a glance: overall, Nasdaq lost 1.19% of its value and ended yesterday's session at 12,500.
Meanwhile, United States API Weekly Crude Oil Stock beat the 73,000 projections, with 2.16 million. Released yesterday at 17:00 UTC, United States's 3-Year Note Auction showed an uptick at 3.202, up from the previous number of 3.093. Data for United States Unit Labor Costs (QoQ) (Q2) released yesterday at 12:30 UTC is better than expected with 10.8, but worse than previous figure of 12.7.
Trend indicators show us that the MACD line is significantly above the MACD signal line, meaning the medium-term trend might turn negative.
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, Hang Seng lost 1.96% during the session and closed at 19,600. Nikkei lost 0.65% during the session and closed at 27,819.
Looking ahead, this trend may be prolonged as United States's new Crude Oil Inventories data will be available today at 14:30 UTC. Data is expected to decline to 73,000 from its previous value of 4.47 million. United States PPI (MoM) (Jul) is expected to come out at 0.2 when it's released tomorrow at 12:30 UTC, this is a decline from the preceding data which was 1.1. United States Core CPI (MoM) (Jul) expected to decline to 0.5, while its preceding data was 0.7, data will be available today at 12:30 UTC.