Daily Technical Analysis Research – Global Markets (NASDAQ)

NASDAQ (NDX):

NASDAQ has surged rapidly following the Federal Reserve’s decision to cut interest rates last week. Since the announcement, the index has already gained more than 5%, reflecting strong upward momentum. Currently, it is trading above the $20,000 mark and appears to be setting its sights on the all-time high (ATH) of approximately $26,690. This rally underscores the market’s positive reaction to the Fed’s policy shift, with traders eyeing further gains in the near term.

Daily Technical Analysis Research - Global Markets (NASDAQ) - Screenshot 2024 09 27 at 11.41.46 1024x569

Taking a deeper look into the technicals, it can be seen that ever since the price broke above this descending trendline, it has been steadily climbing. The RSI indicator currently suggests no signs of the market entering “overbought” territory, indicating that the recent gains may still have room to run. It will be interesting to see if this upward momentum continues, potentially leading to new all-time highs (ATH) in the coming months.

Daily Technical Analysis Research - Global Markets (NASDAQ) - Screenshot 2024 09 27 at 11.43.09 1024x567

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
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Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.

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