Nasdaq 100 Forecast for the Week Ahead: Tech May Outperform the Dow Jones

DailyFX2021-08-03

NASDAQ 100, DOW JONES FUTURES, 10-YEAR TREASURY YIELD, NFPS – WEEK AHEAD Nasdaq 100 may continue outperforming Dow Jones futures ahead Falling Treasury rates, Delta variant, soft NFPs may play key ...

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Comments

RuyiOng
2021-08-03
RuyiOng
Ok
- ChooiLing:
  ok
Gigachad
2021-08-03
Gigachad
Will probably go the other way now...
- Chinleong:
  Yes
- RuyiOng:
  oh
PhilipLoo
2021-08-03
PhilipLoo
Wow that great
CK88
2021-08-03
CK88
Wow
AlanLai
2021-08-03
AlanLai
Good pls like
- plasticbag:
  oh
Valerie9600
2021-08-03
Valerie9600
??
- dannytayjy:
  ??

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On the chart below is a ratio of the Nasdaq 100 versus the Dow Jones. When the line is rising, that means the former is outperforming the latter and vice versa. The ratio can be seen tending to inversely track the 10-year Treasury yield.\nDeclines in the latter have been occurring amid a combination of weakening global growth prospects and cooling concerns about sooner-than-anticipated Fed tapering. Rising Covid cases around the world amid t spread of the more contagious Delta variant have been forcing nations, such as Australia and recently China, to reintroduce lockdowns.\nUnsurprisingly, this has applied outsized pressure on cyclical stocks, which are over-represented in the Dow Jones. Tech shares have seen material outperformance compared to other sectors since last year’s Covid outbreak. 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That could revive bond yields, bring forward Fed tapering bets and skewing capital flows in favor of the Dow relative to the Nasdaq.\nChart Created in TradingView\nNASDAQ 100 TECHNICAL ANALYSIS\nThe NASDAQ 100 finds itself trading within a bearish Rising Wedge chart pattern. A breakout lower may open the door for reversing the near-term uptrend. Negative RSI divergence also shows that upside momentum may be fading. That can at times precede a turn lower. Such an outcome would likely place the focus on the 100-day Simple Moving Average (SMA). The line may act as key support, from which the dominant uptrend might resume.\nChart Created in 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probably go the other way now...&nbsp;","listText":"Will probably go the other way now...&nbsp;","text":"Will probably go the other way 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that great","listText":"Wow that great","text":"Wow that 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pls like&nbsp;","listText":"Good pls like&nbsp;","text":"Good pls 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