{"id":27252,"date":"2022-05-05T10:14:00","date_gmt":"2022-05-05T09:14:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=27252"},"modified":"2022-05-05T17:23:49","modified_gmt":"2022-05-05T16:23:49","slug":"nasdaq-technical-analysis-major-price-bottom-could-have-formed","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-major-price-bottom-could-have-formed\/","title":{"rendered":"Nasdaq Technical Analysis &#8211; Major price bottom could have formed"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27252\" class=\"elementor elementor-27252\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eff3cdf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eff3cdf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-350d970\" data-id=\"350d970\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-07be4db elementor-widget elementor-widget-text-editor\" data-id=\"07be4db\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\" rel=\"noopener\">Nasdaq index<\/a> has finally started to recover after Federal Reserve Chair Jerome Powell eased concern the central bank will embark on a more aggressive pace of tightening.<\/p><p>As expected, the Federal Open Market Committee voted unanimously to increase the benchmark rate by a half percentage point. However, stock traders reduced their bets on a large June hike after Powell that the Fed was not weighing an even larger hike of 75 basis points in the months ahead.<\/p><p>During his press conference Chair Powell said that a larger rate hike is \u201c<em>not something that the committee is actively considering.<\/em>\u201d The <a href=\"https:\/\/bit.ly\/3MYsB5E\" target=\"_blank\" rel=\"noopener\">S&amp;P 500<\/a> rose 3%, Nasdaq 100 jumped 3.4% while the <a href=\"https:\/\/bit.ly\/3KYwtBV\" target=\"_blank\" rel=\"noopener\">Dow Jones Industrial Average<\/a> gained 2.8% at the close of the Wall Street bell.<\/p><p>Hope now exists that a meaningful price bottom has formed after the Nasdaq bounced hard from the 12,800-support level. The near 800-point bounce is certainly encouraging.<\/p><p>Going forward, a series of daily price closes back above the 13,800 level would be a strong sign that bulls are now back in control, and this current recover has legs to continue on.<\/p><p>Traders sentiment towards the Nasdaq is very bearish. This is very encouraging for the current recovery, as the retail crowd is typically on the wrong side of the trade when new trends emerge.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a607c5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8a607c5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2e5e4cc\" data-id=\"2e5e4cc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b1a9db elementor-widget elementor-widget-image\" data-id=\"7b1a9db\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"438\" height=\"166\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/usatec-chart.jpg\" class=\"attachment-large size-large wp-image-27256\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bc206ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bc206ce\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0a9998c\" data-id=\"0a9998c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0b95597 elementor-widget elementor-widget-text-editor\" data-id=\"0b95597\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>I think we could see the Nasdaq starting to rally hard if traders remain wholesale bearish towards the leading US Tech index over the coming days and weeks.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5088331 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5088331\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-20c5aed\" data-id=\"20c5aed\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3eebcc9 elementor-widget elementor-widget-image\" data-id=\"3eebcc9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"543\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/usatec-4h.jpg\" class=\"attachment-large size-large wp-image-27257\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5eec621f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5eec621f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-404eb5a6\" data-id=\"404eb5a6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-275fabcb elementor-widget elementor-widget-text-editor\" data-id=\"275fabcb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4bbd5a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4bbd5a0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-92cec90\" data-id=\"92cec90\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8245f2b elementor-widget elementor-widget-text-editor\" data-id=\"8245f2b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Nasdaq index has formed significant amounts of bullish price divergence on the Relative Strength Index. The divergence begins around the 14500 level.<\/p><p>If the index manages to break the 14000 level it may need to return to the 14500.00 level in order for the bullish divergence to then be quickly reversed.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-96429b0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"96429b0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a811145\" data-id=\"a811145\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6dd358a elementor-widget elementor-widget-image\" data-id=\"6dd358a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"538\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/USATEC-1D.jpg\" class=\"attachment-large size-large wp-image-27258\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-67d8c7f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67d8c7f7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c6a4852\" data-id=\"4c6a4852\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1891872b elementor-widget elementor-widget-text-editor\" data-id=\"1891872b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3w55Yqa\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1d1ea4d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d1ea4d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-649cbc2\" data-id=\"649cbc2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d6867e7 elementor-widget elementor-widget-text-editor\" data-id=\"d6867e7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Nasdaq index is currently bearish in the medium-term despite the immediate price correction on the 4 Hour chart. A move above the 14,250 level is needed to change the price trend.<\/p><p>The possibility for movement to the upside is highly probable. Bulls may need to break above 13,800 near-term resistance to see further gains to the upside.<\/p><p>However, to cement a possible invalidation of a head and shoulders pattern, a move above the 15,200 level is required.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Nasdaq index has finally started to recover after Federal Reserve Chair Jerome Powell eased concern the central bank will embark on a more aggressive pace of tightening. As expected, the Federal Open Market Committee voted unanimously to increase the benchmark rate by a half percentage point. However, stock traders reduced their bets on a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":27254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[257,42,27,279],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nasdaq Technical Analysis - Major price bottom could have formed - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-major-price-bottom-could-have-formed\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq Technical Analysis - Major price bottom could have formed Nasdaq Technical Analysis - Major price bottom could have formed\" \/>\n<meta property=\"og:description\" content=\"The Nasdaq index has finally started to recover after Federal Reserve Chair Jerome Powell eased concern the central bank will embark on a more aggressive pace of tightening.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-major-price-bottom-could-have-formed\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-05T09:14:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-05T16:23:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/05\/GettyImages-1231864111.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"594\" \/>\n\t<meta property=\"og:image:height\" content=\"332\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Nasdaq Technical Analysis - Major price bottom could have formed Nasdaq Technical Analysis - Major price bottom could have formed\" \/>\n<meta name=\"twitter:description\" content=\"The Nasdaq index has finally started to recover after Federal Reserve Chair Jerome Powell eased concern the central bank will embark on a more aggressive pace of tightening.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-major-price-bottom-could-have-formed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-major-price-bottom-could-have-formed\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Nasdaq Technical Analysis &#8211; 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