23, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The US stock market volume of trading was low yesterday. The market continued to consolidate waiting for the referendum results in the UK.

Current situation

The Nasdaq remained at the same levels by the end of the trades. The index tried to grow and almost reached the resistance 4440. Still the sellers’ attack threw it down back to the opening level. The resistance comes at 4440, the support is at 4400.

MACD is in the negative area. The histogram grew, that was a buy signal. RSI is in the neutral area. The 50-SMA and 200-SMA are crossing each other. The 100-SMA is above the price.

Trading recommendations

We may expect the fall towards 4350.