For the seventh day in a row, the Nasdaq index (^IXIC) closed higher, signaling continued positive momentum in the market.

During Friday’s bullish session, several key indices experienced notable gains. The KOSPI Composite Index, for example, saw a significant increase from 2,368.34 to 2,502.37. Similarly, the Nikkei added 2.37% and closed at 32,700. The Hang Seng also saw a strong performance, increasing by 1.71% to close at 17,967.

Additionally, over the past five days, the Nasdaq’s share price has appreciated by approximately 4.59%, indicating a trend of steady growth in the market.

Investors and analysts are closely monitoring these developments as they evaluate market conditions and make investment decisions. The sustained upward movement in the Nasdaq and other major indices is indicative of positive sentiment and potentially promising opportunities for investors.

As the Market Continues to rally, it is important for investors to stay informed and make informed decisions based on the latest market trends and developments.

Nasdaq Holds Strong Uptrend, Pushes Toward Key Resistance Level

The Nasdaq index continues its strong uptrend, with a 7% increase in share price over the past 7 days. Today, the index is expected to rise by a further 178.28 points or 1.38%.

Over the past 5 days, the Nasdaq’s share price has appreciated by around 4.59%. However, the index is currently oscillating around the important Fibonacci resistance level of 13,000, indicating a potential trading range.

If the bullish sentiment can overcome the resistance at 13,000, the next Fibonacci level at 13,128 is expected to be reached. Traders following Fibonacci-based trading strategies should be aware of this level.

Furthermore, the Nasdaq is nearing a key resistance level at 13,100. If it can push above this level, it could gain more ground in the short-term.

Despite its strong performance, the Nasdaq index remains a “Strong Sell” according to technical analysis.

In other markets, the KOSPI Composite Index saw a 5.66% increase on Friday, while the Nikkei rose by 2.37%. The Hang Seng also gained 302.47 points or 1.71% to finish at 17,967.

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