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Bulls hope for Friday rally in Nasdaq 100 as Dow Jones and S&P 500 continue to fall
According to a report from stock3.com, the Nasdaq 100 failed to stabilize around the EMA200 yesterday and the bulls only have today, Friday, to avoid another sell signal. The Dow Jones fell further and fell below the support zone by 32,847 points. Despite the EMA200, a countertrend was not possible for the Nasdaq 100 and it closed just below the lower limit of the downward trend channel since the annual high. The S&P 500 also plunged, breaking all short-term supports. The possible impact on the market could be a further downward move as the technical situation in the stock market has continued to deteriorate. …
Bulls hope for Friday rally in Nasdaq 100 as Dow Jones and S&P 500 continue to fall
According to a report from stock3.com, the Nasdaq 100 failed to stabilize around the EMA200 yesterday and the bulls only have today, Friday, to avoid another sell signal. The Dow Jones fell further and fell below the support zone by 32,847 points. Despite the EMA200, a countertrend was not possible for the Nasdaq 100 and it closed just below the lower limit of the downward trend channel since the annual high. The S&P 500 also plunged, breaking all short-term supports.
The possible impact on the market could be a further downward move as the technical situation in the stock market has continued to deteriorate. Violation of key support levels could lead to increased selling pressure and push prices even lower. The next big target for the S&P 500 is 4,100 points, while for the Nasdaq 100 the dangers towards 14,000 and 13,812/13,655 points remain acute.
For consumers, these developments could mean that it will become more difficult to achieve positive returns from stock investments. The uncertainty in the financial markets can cause people to hold back and invest less in the stock market. This, in turn, can have an impact on economic growth, as investment is an important driver of economic development.
In the industry, poor stock markets could lead to a decline in trading volumes and profits for brokers and investment banks. When fewer people trade stocks, these companies can charge fewer commissions and fees. In addition, troubled financial markets can also make companies less inclined to raise capital, affecting their investment plans.
In summary, current developments in the US stock markets are cause for concern. Technical indicators point to further weakness and there is a possibility of further downward movement. Investors should exercise caution and may reconsider their investment strategies to minimize risks.
Source: According to a report by stock3.com
Read the source article at stock3.com