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Nasdaq Composite Index: Testing Relative Major Support?
​April 25 2016 ( From TradingView, Stockcharts.com )
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​The Situation
​
​​​Financial assets like the SP500 Index had a very good performance 
​indeed since bottoming out on February 11 2016 as even the Nasdaq 
​Composite Index joined the party. Trading now into an uptrend channel
and still above the ​200 DMA ​(Day Moving ​Average). 
​(See 2nd chart below - Green Line)​

But few of us realize ​the ​under performance of the Nasdaq ​Composite Index​ ​
​compare to the Mighty SP500 Index (ratio) lately as we ​are retesting the 
​Major Support Trendline that started back since April 2013. ​(Second Chart Below - Red Trendline - Ellipse)
​
But the real interesting part is to acknowledge that the underperformance of the Nasdaq comes from the proportion of Apple Shares within the SP500 Index at only 3.2% and 7.8% for the Nasdaq ​Composite Index.

​The market do not favor the technology stocks over the broad stock market indices lately. As history repeat itself, we must be aware that this Support Trendline on a relative basis is the last call for Bulls for the Nasdaq Composite Index. ​(Second Chart Below - Red Trendline - Ellipse)


​​





Nasdaq Composite Index: Testing Relative Major Support?   $COMPQ  #Trading #nasdaq #investing #sp500


​Daily Chart ( Candles )
Nasdaq Composite Index
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​










Financialiceberg.Com


Daily RATIO 
Nasdaq Composite Index
over SP500 Index 
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​



Financialiceberg.Com