The NASDAQ Index opened the first week of April at 4911.22 and by the end of the week, the NASDAQ had dropped 60.53 points for a loss of 1.2% on the week. It is not the small loss that is of concern but the chance of support breaking for the NASDAQ Index.
NASDAQ Index Chart To April 8 2016
Looking at the NASDAQ Index Chart for the first week of April 2016 below you can see how often the index fell to 4850 this week. This is good support for the NASDAQ Index and a break of that support level keeps setting up the index to break down to 4830. You’ll see in the chart further below why this week it is important for the NASDAQ to stay above 4830.
What is also interesting was the failure of the jump on Wednesday back above 4910 on the back of Fed minutes which show a continued dovish outlook for interest rates. This was severely dampened with the Weekly Initial Unemployment Insurance Claims on Thursday which showed more strength than anticipated and continues to advise that the economy is doing well at home, even if global economies are not doing as well abroad.
NASDAQ First week of April 2016
The rest of this Stock Market Outlook of the NASDAQ Index for the second week of April 2016 is for FullyInformed Members.
Stock Market Outlook – NASDAQ Index Chart For The Second Week Of April 2016
Members can log in directly through this link to read the NASDAQ Chart Index for the second week of April 2016, or they can sign in to the full members site here. Non-members can join here or read about the benefits of a membership.
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