NASDAQ: Strong Start To Q2
2022.04.06 11:19
The NASDAQ has started the new quarter positively with the VIX remaining below 20 and sentiment generally positive. Big tech shares such as Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX), Qualcomm (NASDAQ:QCOM), and others moved up in early April.
Participants seem to be concentrating much more on economic indicators in April, with inflation and monetary policy not really on the agenda anymore. The inverted yields of Treasury bonds are a possible warning sign for investors and long-term traders. Still, usually, this is only a very early and somewhat unreliable sign of a possible recession.
NASDAQ price chart.
With the price currently within the value area between the 100 and 200 simple moving averages, a significant new catalyst would probably be needed to move further up. Equally, ATR has declined since the middle of March to around 250 in the week of Apr. 4, so this, combined with overbought from the slow stochastic, could suggest consolidation in the near future.
The focus now is on earnings season, which for major companies starts with banks as usual from Wednesday, Apr. 13. Earnings of constituents in the NASDAQ start the following week.
