NASDAQ 100 : The more dovish... the more bullish it is

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03/27/2019 | 04:48 pm
The Nasdaq 100 continues its strong bullish trend. The Fed's recent intervention on its status quo regarding rate hikes is restoring momentum to the equity markets. Powell's dovish tone may raise fears of downward revisions to the future economic outlook. As a result, long-term rates fall and stocks rise.

The tech giants have completed a quality course in recent weeks. The news is busy for Apple, which has just presented its upcoming financial services and video content. The apple brand is fighting with Microsoft for the number one position in the world in terms of capitalization. The two companies are worth about $900 billion. Over the last five sessions, it is semiconductors that are back on the rise, like AMD, which is up 12%, and Micron Technology (+5.3%).

Graphically, in daily data, prices are a little hesitant after the peak of 7500 points. A sharp drop session brought prices down to 7280 points, an area where the buyer consensus has regained its hegemony.

Prices are moving well above moving averages, confirming the positive underlying trend.

It would take a transition at the closing under the 20-day reference to begin to find fragility in the current configuration. On the other hand, a bullish return on 7500 points seems to be plausible.

Patrick Rejaunier 2019
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