The NASDAQ is one of the more constructive charts in the US Equity space, unsurprisingly given the sharp outperformance of growth stocks, in the opinion of analysts at Credit Suisse.
“The market also remains above the 200-week average and a weekly close above 7546 this week would complete a ‘bullish engulfing’ weekly candlestick.”
“Whilst below 7944/8006, we stay biased towards a break below 6966/6772, with the next support seen at 6600, then 6393, the 38.2% retracement of the entire 2009/2020 bull market.”
“A break above 7944/8006 would set a small base to suggest that 6966/57 has held and confirm a recovery back higher, with the next level at 8376.”
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