ANALYSIS NASDAQ TO NFP 05/07/2024

7월 5일

NASDAQ 100 index with several technical indicators overlaid. Here's an analysis based on the information presented:

Key Components of the Chart

VWAP (Volume Weighted Average Price):

Weekly VWAP: The values shown are 19,893.04 (low), 20,241.60 (average), 19,544.49 (median), 20,415.87 (high), and 19,370.21 (low).
VWAP is a trading benchmark that gives the average price a security has traded at throughout the day, based on both volume and price.

Volume Profile:

The gray bars on the left indicate the volume traded at different price levels.
Higher volume at specific price levels can indicate strong support or resistance zones.

Bollinger Bands:

These are the blue and green bands around the price action.
Bollinger Bands consist of a middle band (simple moving average) and two outer bands (standard deviations away from the middle band).
The bands expand and contract based on market volatility.

Candlestick Patterns:

The chart shows the price movement through candlesticks, which indicate the opening, closing, high, and low prices for each time period.

Horizontal Lines:

The orange line around the 19,700 level and the light blue line at the 17,800 level indicate important support and resistance levels.
Technical Analysis

Trend Analysis:

The NASDAQ 100 index is in an uptrend, as evidenced by the series of higher highs and higher lows.
The price is trading above the weekly VWAP, indicating bullish momentum.

Support and Resistance:

Immediate resistance is around the 20,183.03 level (current price).
Significant support levels are at 19,700 and 17,800.

Bollinger Bands:

The price is currently near the upper Bollinger Band, which could indicate overbought conditions. This suggests a potential pullback or consolidation in the near term.

Volume Profile:

High volume nodes around the 19,000 to 19,500 range suggest strong buying interest and potential support if the price pulls back.

Market Sentiment:

The consistent uptrend and position above the VWAP suggest bullish market sentiment. However, traders should watch for signs of reversal or consolidation near resistance levels.

Conclusion

Bullish Bias:
The overall trend is bullish with the price trading above key support levels and the weekly VWAP.

Overbought Conditions:

Caution is advised due to the price being near the upper Bollinger Band, indicating potential overbought conditions.

Key Levels to Watch:

Resistance at 20,183.03, support at 19,700 and 17,800.

Traders should monitor these levels closely and watch for volume changes and price action signals to confirm the continuation or reversal of the current trend.