Nasdaq100: index at lowest since May
The price of the Nasdq100-based contract hit its lowest since the end of May 2023. Yesterday, the discount reached 2.4 per cent, which was mainly due to strong declines in Alphabet shares (more than 9 per cent). The price of the technology index broke one of the more important technical supports, which is a negative signal and suggests a continuation of the current trend.
The US100 - a CFD based on the Nasdaq100 - is on a strong defensive. Yesterday, during the US stock market session, the price reached the potential neckline of the RGR formation. Today, CFD quotes broke through this barrier and found themselves below the level of 14,300 points. They are now at the lower limit of the downward channel, which has been in place since the second half of July this year. The theoretical range of the head-and-shoulders formation is the level of 13,000, the last time the index was at these levels in April.