Nasdaq (NAS100) Bears Dominate as Buyers Remain Silent

Market Analysis – January 8th

Nasdaq bears dominate as buyers remain silent. The index continues to experience fallout as buyers remain in silent mode, allowing the bears to exert their dominance. The price has been responsive to the increasing bearish pressure. Therefore, it appears that buyers have been dealt with over the past few days.

Nasdaq Market Levels

Resistance Levels: 17000.00, 15702.10
Support Levels: 14070.10, 13473.00

Nasdaq (NAS100) Long-Term Trend: Bullish

The strength of the buyers lacked composure after breaking through the significant level of 17000.00. On the other hand, the bulls have been expanding their horizon by consistently pushing the price higher over the past few months.

The buyers emerged with a clear impact after gaining strength from the significant level of 14070.10. The bullish momentum continued to edge forward as the index price broke through the 15000.00 market level. However, above the 15702.00 price zone, the bullish momentum began to wane.

After a price retest, the buyers came back with a stronger trend, propelling the price up to a significant level of 17000.00. However, the bears have since pushed the price down below the significant level of 16434.50. For the bulls to regain control, a stronger resurgence is needed.

Sell traders have successfully broken beyond the middle level of the Bollinger Band indicator, indicating a bearish trend. Market participants should watch out for a potential price retest close to the lower region of the Bollinger Band indicator. This could indicate a further bearish move.

Nasdaq (NAS100) Short-Term Trend: Bearish

In this short time frame, buyers seem to be gearing up for another run. At the moment, sellers are witnessing more bearish fallout, but it remains to be seen how the market dynamics will unfold.

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