Sentiment more bullish, but...

May 10, 2018 09:06 AM

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Nasdaq at 6,900 Mark

 

The technology Nasdaq 100 futures contract follows a similar path, as it trades within an intraday consolidation. The market fell closer to 6,500 mark on Thursday a week ago, and then it reversed its short-term downtrend and continued higher. It is trading along the level of 6,900 this morning, so volatility is back again. Potential resistance level is at around 6,950-6,700. On the other hand, support level is at 6,850, marked by recent level of resistance. The Nasdaq futures contract remains above its short-term upward trend line, as we can see on the 15-minute chart:

 

Apple, Amazon Closer to Record Highs

Let's take a look at Apple, Inc. stock (AAPL) daily chart (chart courtesy of http://stockcharts.com). It reached new record high on Monday, and then we saw some profit-taking action. The stock got closer to record high again on Wednesday. There have been no confirmed negative signals so far. But will it continue even higher? Potential resistance level is at $190-200. On the other hand, support level is at $180-185, marked by previous high:

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