LIVE MARKETS Nasdaq Composite: Healthier gut

  • 1/4/2022
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U.S. equity index futures modestly green Euro STOXX 600 index gains ~1% Dollar, bitcoin, gold, crude all up rise U.S. 10-Year Treasury yield rises to ~1.66% Jan 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com NASDAQ COMPOSITE: HEALTHIER GUT (0900 EST/1400 GMT) While gains in Apple (AAPL.O) read more and Tesla (TSLA.O) read more were grabbing headlines on Monday, Nasdaq vital signs continue to improve: IXICNHNL01042021 IXICNHNL01042021 The Nasdaq New High/New Low (NH/NL) index, a measure built around new yearly highs and lows, rose to 32.2% on Monday, which is its highest reading since Nov. 26. read more Of note, the Nasdaq NH/NL index bottomed at 12.5% on December 6. It then showed a bullish convergence into the Nasdaq Composite"s (.IXIC) Dec. 20 low, and then established a higher trough at 19.7% on Dec. 22. It is now rapidly nearing a hurdle in the form of its mid-October low at 33.6%. If 33.6% is cleared, the NH/NL index would certainly have substantial room for further improvement before it would approach intact resistance lines from its 2021 peaks. Its November high was 75.7%. read more In that event, the IXIC could easily have sufficient underlying strength to propel it to fresh record highs. Longer-term, however, concerns remain given that the Composite is so close to its record highs yet this measure is massively below its early-to-mid 2021 levels. A NH/NL index break of its rising 10-day moving average, and then its late-December low, however, may potentially put the Composite back at risk for intensive care. (Terence Gabriel) ***** FOR TUESDAY"S LIVE MARKETS" POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE: read more Terence Gabriel is a Reuters market analyst. The views expressed are his own

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