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

Gains Possible for Nasdaq

By Paul Cherney The Nasdaq printed below 2188 and the index moved lower in the session. The price action did not produce the kind of readings which I usually see when a market is about to tumble which leaves the door open for a headline reaction to the February employment report. The report will be released at 8:30 pm EST.

All the interpretation of the jobs report will take place before the opening bell on Friday, so by 9:30 a.m. ET, if the markets are convinced that a Fed rate cut is a given, there could be some discounting of a March 20th rate cut (read: higher equity prices).

There is still the potential for good gains in the Nasdaq on Friday especially if the markets embrace the notion that it is time to start discounting a rate cut by the Fed. Immediate resistance for the Nasdaq is 2188-2204, then 2249-2287, then 2314-2351. The Nasdaq has stacked layers of support 2159-2111 and then 2129-2071.

The S&P 500 has immediate support 1253-1240. Considerable resistance is evident in the 1274-1293 area.

Intraday observance: The S&P 500 has a layer of resistance 1267.42 - 1272.76. A move above this level would probably garner some follow-through.

Anytime prices move above a layer of resistance, that layer is then considered support. Anytime prices move below a layer of support, those prices are then considered resistance. Cherney is Market Analyst for Standard & Poor's

blog comments powered by Disqus