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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 339161, member: 104606"] [B][SIZE=5]NASDAQ Rally Shows Tech Stocks Are Back in Focus - But for How Long?[/SIZE][/B] [img]https://i.imgur.com/aDIctwV.png[/img] The NASDAQ index, well known as a premier listing venue for North American technology companies across the entire spectrum from the Silicon Valley giants to recently listed newcomers, has been going from strength to strength during the beginning part of this year. At the beginning of January, the NASDAQ was resting at a relatively low point in the mid-16,300 range and has since risen to 18,318.7 at the high points of the trading day in New York yesterday, according to FXOpen pricing. This is a considerable increase, and apart from a few small dips along the way, it has been consistent for the majority of the first quarter of the year so far. Yesterday's trading was of great interest to those with a keen penchant for US tech stocks, as the NASDAQ's high point of 18,318.7 represented an all-time record for the index, clearly demonstrating that these days, there is a clear distinction between enthusiasm among traders for NASDAQ-listed companies compared to two years ago when there was a sustained period of low value across NASDAQ listed stocks. Those times are gone, and the halcyon days are back. However, the euphoria subsided slightly as the trading day came to a close yesterday during the US session, as the NASDAQ, despite a rallying group of technology stocks tied to the artificial intelligence boom keeping the values high, began to make a slight climbdown from its historic high. Trading will begin today with the NASDAQ index standing at 18,129.1 according to the bottom of the candlestick on FXOpen charts, which is still high compared to the entire history of the NASDAQ index apart from the levels it reached during yesterday's trading. [B][URL="https://fxopen.com/blog/en/gt-nasdaq-rally-shows-tech-stocks-are-back-in-focus-but-for-how-long/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]VIEW FULL ANALYSIS VISIT - FXOpen Blog...[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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