Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Thursday, July 7, 2022, 6:55am GMT
Source: TradingView
Although the NASDAQ Composite has declined by more than 28% this year and has underperformed the S&P 500, could a rotation be underway?
The NASDAQ Composite’s 175 and 200-week moving averages have saved the day since 2011. So while the index dipped below both levels during the COVID-19 sell-off, it rallied soon after. The NASDAQ Composite also fell below its 200-week MA intraweek for the period beginning on Jun. 13 but managed to close the week above it. Likewise, the intraweek decline beginning on Jun. 27 also saw support materialize at the 200-week MA.
Therefore, with the index sandwiched between its 175 and 200-week MAs, support and resistance are present between 10,846 and 11,355.
However, with the index closing at 11,322 on Jul. 5, will the great rotation propel the NASDAQ Composite above its 175-week MA sooner rather than later?
ADS Securities London Limited “ADSS” is an execution-only service provider. This material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or investment objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by ADSS that any particular investment, security, transaction or investment strategy is suitable for any specific person. To the extent that any content in this material is construed as investment research, you must note and accept that the content was not prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. This material may contain links to third party websites, and any content, or use of your personal data by any third party websites is not the responsibility of ADSS or any member of the ADSS Group.
CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ADSS is a trading name of ADS Securities London Limited, a company registered in England and Wales with company number 07785265 (VAT Registration Number: 212722447). Registered address 9th Floor, 125 Old Broad Street, London, EC2N 1AR. ADS Securities London Limited is authorised and regulated in the UK by the Financial Conduct Authority (FRN 577453).
The information on this site is not directed at residents of the United States, Canada, EU or any particular country outside the UK, and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law.
All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Please ensure you understand all risks and seek independent advice if necessary.
