Stock panic grows

Friday 26 July 2024

More volatility. The Market Ear investigates.

NASDAQ – must hold coming up

NASDAQ has traded inside a big trend channel since October lows. We have seen tech move from the upper part to the lower part of the channel in basically two trading weeks. We crushed the 50 day yesterday, and are taking out the 100 day as of writing. 18900, give or take, is must hold area.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.