Nasdaq (a 4-hour chart)
Wall Street weakened after weaker-than-expected Retail Sales and Production Prices report. Despite the positive labour market data the Fed may wait with the rate hike until it gets a solid proof over the strength of the economy.
Nasdaq refreshed its new local highs. The price returned to the resistance at 4800 where it ended the trading week. The resistance is at 4800, the support stands at 4700.
MACD remained in the positive area. The histogram grew which indicates the buyers’ strength. RSI is close the overbought area.
The price hovered above the 50-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are still pointing upwards.
If the instrument breaks above the level 4800 the price will grow to the next resistance at 4900.