NASDAQ weekly Projections

i took profit this morning

I'm only expecting reactions from that support level, I'm not expecting price to hold it for strong buys. Did you allow your pending order or you deleted it?

Except the weekly candle does not break through the support zone by market close today, then I'll expect next week to start with buys. otherwise, the sells will just continue as it as from next week, below the level.

You are all mistaken am not buying anything, an just waiting for a break below 28400 so I can confirm that price will not get to that resistance again because it price sweeps just at that level it could get to that resistance level so that is just it, look at the chart image and see my marking what I want to see happen

Alright cool. Nas 100 traded below 28400 but has not closed below it. Price is still confined to a bearish channel but has not broken the major support zone. The confluence of the lower boundaries of the bearish channel with the Key support zone hindered price from breaking below it. I'll still maintain my expectations within the trading range, until there's a full breakout to the downside, or a strong rally above the triple top resistance zone.

NASDAQ Weekly Trade Summary and Recap (1)

As the Trading week will be drawing to a close by the end of today friday, we've witness heavy momentums on both sides of the market participants. However, I'll be having the bears crowned as winners of the weekly trading activities as the selloff on Nasdaq was more than the rally we earlier witness on the asset in the middle of the week.

NASDAQ Weekly Trade Summary and Recap (2)

This week 4 CPI metrics was released, and all came in below expectations, signaling a softer inflation. This was bullish for Nasdaq as we witnessed a rally from the 29400 (support) -price region, to 29750 price level(resistance).

NASDAQ Weekly Trade Summary and Recap (3)

The 4 CPI metrics data released is tabulated below. (Consumer Price Index)

CPI data Previous Forecast Actual
CPI (YoY) 4.2% 3.8% 3.5%
CPI (MoM) 0.5% -0.1% -0.4%
Core CPI (YoY) 2.9% 2.8-2.85% 2.6%
Core CPI (MoM) 0.2% 0.2% 0.0%

The weaker inflation data boosted Nasdaq as investors priced in a lower probability of Further Federal reserve tightening.

Lower expected interest rates generally boost the valuation of growth stocks, particularly technology companies that dominate the Nasdaq.

NASDAQ Weekly Trade Summary and Recap (4)

Despite the Favour from CPI on Nasdaq, the bullish moments were short-lived.
As the week progressed, sentiment shifted due to factors that was unrelated to CPI and not scheduled on Economic Calendar as well.

The Nasdaq later gave back gains, as profit-taking, weakness in AI and semiconductor stocks, and renewed Middle East Tensions shifter investor sentiment later in the week.

Technically, these factors also aligned with technical confluences on the chart, thus showing how price responds to economic factors by creating patterns and forming strong reaction candles at key/major Price levels (support and resistance, demand and supply)

Let's see how price will close today

NASDAQ Weekly Trade Summary and Recap (5-final)

With the following factors;

-Heavy selling in semi-conductor and AI-related stocks
-Profit-taking after the Nasdaq's strong rally
-Renewed US-Iran war and Airstrikes, which pushed oil prices higher and revived inflation concerns,

Investors rotated their capitals and investments from high-growth technology stocks into financials, energy, and defensive sectors, causing the Nasdaq to finish the week under pressure despite favorable inflation data.

Summary: Comparing the impact of economic calendar news data with geopolitical risks/tensions, we can safely conclude that bullish economic data release alone, does not guarantee a bullish market. Macro data may shape an underlying narrative, but lasting price direction is ultimately governed by institutional positioning, sector rotation, earnings expectations, price action dynamics, and evolving geopolitical risks.