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Home ANALYSIS

Nasdaq index moves closer to 100/200 day MAs

A.R Chowdhury by A.R Chowdhury
March 29, 2022
Reading Time: 4 mins read
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NASDAQ index

NASDAQ index approaches its 100 day moving average

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The  Nasdaq 
NASDAQ

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.
Read this Term
index is currently trading up 234 points or 1.63% at 14500. The high price reached 14591 so far. The index is working on its eight day higher in 11 trading days. Since bottoming on March 14, the index is up over 16%. The index is still 11.22% away from its all-time high reached on November 22.

Technically, the move to the upside today took the price above the 50% retracement of the move down from the November high at 14383.79. That will now be a risk level for longs looking for more upside. Stay above is more bullish.

The move higher has also taken the price above swing highs from February at 14504 area. That is a closer risk level.

The next key targets on the topside would have the pairs moving back above the 100 and 200 day MAs. The 100 day MA currently comes in at 14648.21. The 200 day moving average is modestly above that level at 14726.65. Move above each would increase the bullish bias from a technical perspective. However, I would expect that traders give cause for pause against the levels on the first look, with stops on a break above.

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A.R Chowdhury

A.R Chowdhury

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The Nasdaq is testing the 100 day MA at 14646.86.

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