Nasdaq Correction on War Tensions
The Nasdaq 100 is under selling pressure due to war tensions and high oil prices, moving closer to a 'Death Cross' technical signal.
Too little corroboration in the last 3 days to call a trend (13 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"The NASDAQ Composite also faced selling pressure, falling 72.39 points to 26,751.64, down 0.27%"
"traders were caught off guard because JPMorgan had forecast that the SpaceX stock would see $4.3 billion in inflows from index tracking funds after the NASDAQ-100 inclusion. This drop therefore suggests that traders did not view the listing to be a buying opportunity but rather used it as a sell-the-news event"
"The selloff spread to equities, with the Nasdaq 100 opening 1.7% lower."
"Investor Michael Burry, best known for predicting the 2008 financial crisis and portrayed in The Big Short, has warned that the Nasdaq 100 could be headed for a sharp reversal after what he described as a 'parabolic' rally in technology stocks."
"U.S. tech stocks eased slightly from record highs at midday Monday as a fresh leg higher in crude prices and a packed earnings-and-policy week kept buyers cautious. The Nasdaq 100 slipped 0.4% to 27,206."
"U.S. stocks settled lower on Tuesday, with the Nasdaq Composite falling more than 100 points during the session amid a fresh surge in crude oil prices."
"The Nasdaq 100 saw new shorts outweigh longs by a staggering 17:1 ratio on a notional basis, pushing current open interest to 91% short."
"The Nasdaq 100 now looks like it's moving closer to the 'elusive 'Death Cross' territory,' Aaron Hill, the chief market analyst at FP Markets, wrote in a note, referring to the bearish technical signal where an asset's 50-day moving average crosses its 200-day moving average, which has typically preceded more downside."
"It's been a tough year for equities in general, but particularly for tech stocks, which have lost some of their allure amid anxiety about continued capex spending and fears that the technology could ultimately hurt some businesses and the wider economy."
"The Nasdaq 100 now looks like it's moving closer to the 'elusive 'Death Cross' territory,' Aaron Hill, the chief market analyst at FP Markets, wrote in a note, referring to the bearish technical signal where an asset's 50-day moving average crosses its 200-day moving average, which has typically preceded more downside."