NDAQ runs into sellers again around 90.71
Moving higher for the 2nd day in a row, NDAQ ended Thursday at 90.57 gaining $0.33 (0.37%) on low volume. Today's closing price of 90.57 marks the highest close since Inception. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was $0.98 (1.09%), that's below last trading month's daily average range of $1.49. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 90.96. After having been unable to move above 90.71 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 90.71.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 91.21 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 89.38 where further sell stops might get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for NASDAQ OMX Group
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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