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. Psychic Christopher Golden commented on Mar 23

    Psychic Christopher Golden

    […]we came across a cool web page which you may get pleasure from. Take a look in the event you want[…]

  2. Bàn ghế học chống gù chống cận commented on Mar 23

    Bàn ghế học chống gù chống cận

    […]please check out the web-sites we comply with, such as this a single, as it represents our picks from the web[…]

  3. Loan commented on Mar 23

    Loan

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

  4. divorce spells that work commented on Mar 23

    divorce spells that work

    […]just beneath, are many completely not connected web sites to ours, nevertheless, they may be certainly really worth going over[…]

  5. numm lock key blocker commented on Mar 23

    numm lock key blocker

    […]check below, are some totally unrelated internet sites to ours, however, they are most trustworthy sources that we use[…]

  6. Scuba Diving commented on Mar 23

    Scuba Diving

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

  7. Create a photography website commented on Mar 24

    Create a photography website

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless actually really worth taking a search, whoa did a single find out about Mid East has got additional problerms also […]

  8. cursos online com certificado commented on Mar 24

    cursos online com certificado

    […]The information talked about inside the post are a number of the most effective out there […]

  9. Bandar Domino Online commented on Mar 24

    Bandar Domino Online

    […]Wonderful story, reckoned we could combine a handful of unrelated data, nonetheless truly really worth taking a look, whoa did a single understand about Mid East has got additional problerms also […]

  10. proof of weak hands commented on Mar 24

    proof of weak hands

    […]Here is a superb Blog You might Obtain Interesting that we Encourage You[…]

  11. Andrew Wright Maine lawyer commented on Mar 24

    Andrew Wright Maine lawyer

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

  13. top 10 breast enhancement products commented on Mar 25

    top 10 breast enhancement products

    […]The information mentioned in the article are several of the top out there […]

  15. Instagram unfollow commented on Mar 25

    Instagram unfollow

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless actually worth taking a appear, whoa did one find out about Mid East has got more problerms also […]

HowIInvestMyMoney