{"id":31912,"date":"2022-07-14T02:04:00","date_gmt":"2022-07-14T01:04:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=31912"},"modified":"2022-07-14T22:20:53","modified_gmt":"2022-07-14T21:20:53","slug":"nasdaq-technical-analysis-wedge-watch","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/","title":{"rendered":"Nasdaq Technical Analysis – Wedge Watch"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The NASDAQ<\/a> corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction.<\/p>

Technically, the set-up looks perfect. The NASDAQ recently broke out from a well-defined wedge pattern and surged towards the 12,200 level and has subsequently returned to the scene of the initial breakout.<\/p>

Yesterday, the US CPI came in much stronger than expected with a 1.3 percent monthly rises. The Consumer Price Index in the United States also rose 9.1 percent from a year ago, a 40-year high that defied expectations of moderating price pressures.<\/p>

Based on the market reaction, we could see a bottom forming in the NASDAQ, however, it is essential that the 11,700-support level holds over the coming days and weeks.<\/p>

Traders sentiment towards the Nasdaq is still bullish. This is not very encouraging for the current recovery, as the retail crowd is typically on the wrong side of the trade when new trends emerge. However, the bias is not too wide.<\/p>

I think we could see the Nasdaq bullish bias starting wane 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

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\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
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Four-Hour Chart<\/strong><\/p>

The Nasdaq index on the four-hour time frame and looks like it is making a perfect technical test back towards a former breakout from a massive falling wedge pattern.<\/p>

If the index manages to hold above the 11700 level, then technical analysis is highlighting that the index could see a major recovery towards the 12,000-resistance area.<\/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

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\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
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

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

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Daily Chart<\/strong><\/p>

The Nasdaq index is currently bearish in the medium-term despite the recent price correction. A move above the 14,100 level is needed to change the price trend.<\/p>

The possibility for movement to the upside is however high probability. Bulls may need to break above 13,000 near-term resistance for any further gains to the upside.<\/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

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\"\"\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
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

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\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":"

The NASDAQ corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction. Technically, the set-up looks perfect. The NASDAQ recently broke out from a well-defined wedge pattern and surged towards the […]<\/p>\n","protected":false},"author":4,"featured_media":16320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[421,27],"yoast_head":"\nNasdaq Technical Analysis - Wedge Watch - 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-wedge-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq Technical Analysis - Wedge Watch Nasdaq Technical Analysis - Wedge Watch\" \/>\n<meta property=\"og:description\" content=\"The NASDAQ corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\" \/>\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=\"2022-07-14T01:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-14T21:20:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/GettyImages-51192829-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1198\" \/>\n\t<meta property=\"og:image:height\" content=\"716\" \/>\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 - Wedge Watch Nasdaq Technical Analysis - Wedge Watch\" \/>\n<meta name=\"twitter:description\" content=\"The NASDAQ corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction.\" \/>\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-wedge-watch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Nasdaq Technical Analysis – Wedge Watch\",\"datePublished\":\"2022-07-14T01:04:00+00:00\",\"dateModified\":\"2022-07-14T21:20:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\"},\"wordCount\":331,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"CPI\",\"NASDAQ\"],\"articleSection\":[\"Index\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\",\"url\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\",\"name\":\"Nasdaq Technical Analysis - Wedge Watch - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2022-07-14T01:04:00+00:00\",\"dateModified\":\"2022-07-14T21:20:53+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nasdaq Technical Analysis – Wedge Watch\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nasdaq Technical Analysis - Wedge Watch - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/","og_locale":"en_GB","og_type":"article","og_title":"Nasdaq Technical Analysis - Wedge Watch Nasdaq Technical Analysis - Wedge Watch","og_description":"The NASDAQ corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction.","og_url":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2022-07-14T01:04:00+00:00","article_modified_time":"2022-07-14T21:20:53+00:00","og_image":[{"width":1198,"height":716,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/GettyImages-51192829-1-1.jpg","type":"image\/jpeg"}],"author":"Nathan Batchelor","twitter_card":"summary_large_image","twitter_title":"Nasdaq Technical Analysis - Wedge Watch Nasdaq Technical Analysis - Wedge Watch","twitter_description":"The NASDAQ corrected lower after the recent record high CPI report; however, all may not be as it seems as it could be the case that the US tech index is just performing a standard correction.","twitter_misc":{"Written by":"Nathan Batchelor","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/"},"author":{"name":"Nathan Batchelor","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab"},"headline":"Nasdaq Technical Analysis – Wedge Watch","datePublished":"2022-07-14T01:04:00+00:00","dateModified":"2022-07-14T21:20:53+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/"},"wordCount":331,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["CPI","NASDAQ"],"articleSection":["Index"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/","url":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/","name":"Nasdaq Technical Analysis - Wedge Watch - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2022-07-14T01:04:00+00:00","dateModified":"2022-07-14T21:20:53+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/nasdaq-technical-analysis-wedge-watch\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"Nasdaq Technical Analysis – Wedge Watch"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab","name":"Nathan Batchelor","description":"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.","url":"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/31912"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=31912"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/31912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/16320"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=31912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=31912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=31912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}