Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

How Opening Selling on Wednesday Could Help the Nasdaq

By Paul Cherney Tuesday's price action fulfilled (much sooner than I thought possible) expectations for NASDAQ prints below the 2288 level. Tuesday's low print was 2273.07.

Now what? I have to look at this market just day to day. The most bullish short-term development for Wednesday's market would be a Nasdaq gap lower at the opening and then more selling which pushes the Nasdaq Composite into or below the first line of support which is 2236-2157. If prices were to drop below 2236, I think this would create attractive prices for bears to cover open short positions and the market could find a bottom in the 10:15-11:30 a.m. EST timeframe.

Immediate Nasdaq resistance is 2299-2333 then The Nasdaq has intraday resistance in the 2367-2402 area. There is a focus of resistance in the 2367-2389 area. Cherney is market analyst for Standard & Poor's

blog comments powered by Disqus