{"id":13201,"date":"2010-09-21T09:16:23","date_gmt":"2010-09-21T13:16:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13201"},"modified":"2010-09-21T09:16:23","modified_gmt":"2010-09-21T13:16:23","slug":"nasdaq-may-have-peaked-as-technical-data-predicts-bearish-movement","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/21\/nasdaq-may-have-peaked-as-technical-data-predicts-bearish-movement\/","title":{"rendered":"Nasdaq May Have Peaked as Technical Data Predicts Bearish Movement"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; The <a href=\"http:\/\/www.forexyard.com\/en\/cfd-trading\">Nasdaq 100<\/a> has been seeing a steady upward trend over the last several weeks as a  series of economic indicators have pushed up CFD\u2019s along with other  riskier assets.  As will be shown through a number of technical  indicators, the Nasdaq has been trading in overbought territory for some  time and is overdue for a downward correction.<\/p>\n<p>We will be looking at the 8-hour chart  for the Nasdaq 100, provided by Forexyard.  The technical indicators  being used are the Stochastic Slow, Relative Strength Index (RSI) and  Williams Percent Range.<\/p>\n<p>1. The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic Slow<\/a> shows that a bearish cross is close to forming right around the 80  level.  Typically, a cross formed above the 80 line indicates a downward  correction is likely to take place.<\/p>\n<p>2. The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index<\/a> is trading well above the upper resistance line, and has been for some  time.  This indicates that the CFD has been overbought for an extended  period, and is likely to drop in the very near future.<\/p>\n<p>3. Finally, the Williams Percent Range is currently right around the  -5 level.  Anything above the -20 mark is generally considered to be in  the overbought region, meaning the Nasdaq is likely to experience heavy  downward pressure.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/tech-21.9.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/tech-21.9.bmp\" alt=\"\" width=\"590\" height=\"549\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                     may    not    be          suitable     for     all            investors.           There       is   a                           possibility             that                  you      could            sustain a    loss         of   all      of          your                         investment and                        therefore   you                should     not             invest             money    that      you                  cannot           afford to                lose.  You                should      be           aware      of          all       the        risks                    associated       with            Foreign            Exchange                  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; The Nasdaq 100 has been seeing a steady upward trend over the last several weeks as a series of economic indicators have pushed up CFD\u2019s along with other riskier assets. As will be shown through a number of technical indicators, the Nasdaq has been trading in overbought territory for some time &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/21\/nasdaq-may-have-peaked-as-technical-data-predicts-bearish-movement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nasdaq May Have Peaked as Technical Data Predicts Bearish Movement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13201","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13201"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13201\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}