Technical Update - Nasdaq 100 and S&P500
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Nasdaq 100 closed at the lowest level in 10 months just a few points above 12,998 support. Pre-market the future/USNAS100 cfd has dipped below 13K but us at the time if writing trading above.
A Daily close below support is likely to further fuel sell-ffs down to support around 12,287.
Daily RSI has closed below the rising trend line indicating lower levels. However, divergence indicates a weakening of the downtrend supporting a rebound picture. Really seems like Nasdaq is on a knifes edge these days
Almost identical picture on S&P 500. 4,164 is the support to keep an eye on. A daily close below could lead to further down side to support at 4,056.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.