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June 19, 2023The Nasdaq is down to 13,700, after ending Friday at 13,783. Overall, a 0.68% loss or 82.8 points today.
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. The Nasdaq's upper Bollinger Band® is at 13,852 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for the Nasdaq.
In the meantime, negative performances are also seen in other markets, CAC is down 74.65 points from the beginning of the session and now trades around 7,314. DAX is trading around 16,200 (down 157.63 points).
Positive performances can be seen by looking at other markets as ASX 200 gained 0.6% and is currently trading at 7,295.
Furthermore, United States Building Permits (May) is expected tomorrow at 12:30 UTC.
The index has been trending positively for about 3 months. The Nasdaq has gained 0.68% over the last 3 days.
