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. we come to you at home or fix to fix your iPhone commented on Mar 05

    we come to you at home or fix to fix your iPhone

    […]that could be the end of this article. Here you’ll find some web-sites that we consider you will enjoy, just click the hyperlinks over[…]

  2. organic tea tweeted on Mar 06

    organic tea

    […]Here are some of the sites we recommend for our visitors[…]

  3. clit tickler commented on Mar 06

    clit tickler

    […]that could be the finish of this post. Right here you will find some websites that we feel you will enjoy, just click the hyperlinks over[…]

  4. Perusahaan Logistik terbesar di indonesia commented on Mar 06

    Perusahaan Logistik terbesar di indonesia

    […]Every when inside a when we decide on blogs that we read. Listed beneath would be the most up-to-date internet sites that we choose […]

  5. moving company commented on Mar 07

    moving company

    […]we like to honor numerous other internet web pages around the internet, even if they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  6. Holiness commented on Mar 07

    Holiness

    […]we came across a cool web-site that you could delight in. Take a search in case you want[…]

  7. penis vibrator commented on Mar 08

    penis vibrator

    […]here are some links to web-sites that we link to mainly because we believe they’re worth visiting[…]

  8. biohealth nutrition commented on Mar 08

    biohealth nutrition

    […]the time to study or stop by the material or sites we have linked to beneath the[…]

  9. bahis siteleri commented on Mar 08

    Find more there:

    […]Wow, amazing blog layout! How long have you been blogging for?[…]

  10. kona coffee beans commented on Mar 08

    kona coffee beans

    […]Every after inside a when we pick blogs that we study. Listed below would be the most current sites that we opt for […]

  11. miniclip 8 ball pool commented on Mar 09

    miniclip 8 ball pool

    […]that may be the end of this article. Here you’ll come across some web-sites that we feel you’ll value, just click the links over[…]

  12. remote control shark commented on Mar 09

    remote control shark

    […]Every when inside a while we decide on blogs that we read. Listed beneath are the most current sites that we opt for […]

  13. bahis siteleri commented on Mar 09

    …Awesome website

    […]The whole look of your web site is fantastic, let well as the content material![…]

  14. cheltenham horse racing commented on Mar 09

    cheltenham horse racing

    […]Here is a great Weblog You may Uncover Intriguing that we Encourage You[…]

  15. bahis siteleri commented on Mar 09

    …A Friend recommended your blog

    […] What web host are you the usage of? Can I get affiliate hyperlink to your host? I wish web site loaded up as quickly as yours lol[…]

HowIInvestMyMoney