08, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

NADAQ remained under influence of the latest Janet Yellen’s comments. Janet Yellen did not give any clues regarding the possible rate hike in June. She believes in the recovery of the USA economy and does not consider one weak unemployment report as a proof of the USA economy slow down.

Current situation

NADAQ remained in a flat. All buyers’ attempts to take the pair higher 4550 failed. The resistance stands at 4550, the support lies at 4600.

MACD is in a positive area. The signal line is above the histogram. RSI is in a neutral zone giving no signal.

Trading recommendations

If the index manages a break below 4500 and stays there we would likely be selling it.