Nasdaq (a 4-hour chart)
The USA Bonds market got under pressure after weak earnings reports from Netflix Inc (NASDAQ:NFLX).
The index decreased on Tuesday. The Nasdaq lost about 0.42% during the course of the trades. Our outlook is still bullish. The resistance is at 4600, the support is seen at 4550.
MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI is close to the overbought area which is a buy signal.
The price is at the 100-EMA in the 1 hour chart. The instrument is in-between the 50-EMA and the 100-EMA. The 100-EMA broke upwards the 200-EMA in the 4 hours chart. The moving averages (50, 100 and 200) are moving upwards.
If the price fixates above the resistance 4600, it may continue the upward trend in the short term. The potential target is 4650. If the price falls it will get to 4550.