Chart o’ the Day: The Nasdaq Explodes, Despite Apple

Posted by

The Nasdaq has been incredible for the last 18 months, and is up almost every day for the last three weeks.

Bank of America Merrill Lynch’s chief technician, Stephen Suttmeier, takes a look at the broad up-channel and what it could mean longer term. He also notes how Apple’s weakness has not ended up mattering at all:

The NASDAQ Composite broke out from a basing pattern that had been in place for
12 years in early 2012 and this moved the NASDAQ into a new secular bull market.
Since the breakout, pullbacks in the NASDAQ have held the breakout point in the
2900-2700 area. Initial chart and uptrend support moves up to 3200-3100. Key 50%
and 61.8% Fibonacci resistance levels are near 3120 and 3595 – the NASDAQ has
moved above the 50% level and is testing the 61.8% level. There is eventual upside
potential to rising channel resistance is projected in the 3800-4000 area.

qqq

 

Source:

Bank of America Merrill Lynch

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. sex toy commented on Oct 26

    sex toy

    […]one of our guests not too long ago proposed the following website[…]

  2. Website Design and Development Company commented on Oct 26

    Website Design and Development Company

    […]The details talked about in the write-up are several of the most beneficial accessible […]

  3. best kona coffee commented on Oct 27

    best kona coffee

    Best Kona coffee how to guide for coffee beans. Assisting you in your choice, the following are useful steps on best practices picking the best Kona coffee beans. #1 RULE: Never reheat your Kona coffee.

  4. lion kona coffee commented on Oct 27

    lion kona coffee

    Lion Kona Coffee Beans fancy roasted by LION Coffee have been enjoyed by coffee aficionados for well over 100 roaring years.

  5. بازاریابی محتوایی commented on Oct 27

    تولید محتوا گراف تیم

    Hey, I consider your site may well be getting browser compatibility issues. When I search at your blog in Chrome, it seems to be good but when opening in Net Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that…

  7. بازاریابی شبکه اجتماعی commented on Oct 27

    بازاریابی شبکه اجتماعی

    I was curious if you at any time believed of altering the structure of your website? Its extremely well prepared I enjoy what youve received to say. But possibly you could a tiny more in the way of content so individuals could join with it far better.…

  8. first time vibrator commented on Oct 27

    first time vibrator

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless genuinely really worth taking a search, whoa did one understand about Mid East has got a lot more problerms as well […]

  9. realistic vibrating dildo commented on Oct 27

    realistic vibrating dildo

    […]Here is a superb Weblog You may Locate Interesting that we Encourage You[…]

  10. oral sex tips for him commented on Oct 28

    oral sex tips for him

    […]we came across a cool internet site that you simply might get pleasure from. Take a search in the event you want[…]

  11. kegel kit commented on Oct 28

    kegel kit

    […]The information talked about within the article are a few of the most effective accessible […]

  12. penis sleeve commented on Oct 28

    penis sleeve

    […]the time to study or go to the material or web sites we have linked to beneath the[…]

  13. best realistic silicone dildo commented on Oct 28

    best realistic silicone dildo

    […]Here are a number of the web-sites we advocate for our visitors[…]

  14. love bullet vibrator commented on Oct 29

    love bullet vibrator

    […]usually posts some pretty fascinating stuff like this. If you are new to this site[…]

  15. programming commented on Oct 29

    programming

    […]Here is a great Blog You may Come across Intriguing that we Encourage You[…]

HowIInvestMyMoney