US Tech 100 – Daily Rolling- 16-9-2014

Significant decline 1% Monday on the Index of high-tech firms, Nasdaq-100. The left index range between 4,060 and 4,120 units which moved in recent weeks. Of course the long-term trend remains upward with the notch is just below the multi-highs. 

 

We must not forget that the index gained around 7% from the August low in a few meetings, writing new perennial high and therefore intense days' profit as yesterday should not be particularly surprising. The other major American indices (Dow Jones, S & P-500) was virtually unchanged yesterday, but were under-performing relative to the Nasdaq-100 recently. So we're not talking about a generalized precipitation American markets yesterday. 

 

On the daily chart there is significant support for 4,010, 4,000 and 3,977 units. The support is maintained, kept creating chances for higher prices in the coming months. We always have in mind the loose monetary policy of the American central bank (FED) that acted as the "fuel" of the rise of the Index over the last five years. For this reason we watch future announcements for varying the amount of the repurchase of government bonds by the FED.

 

Resistances in 4050, 4060, 4080 and 4100 units.