Nasdaq broke below the 200 day ( big trouble )

[brightside]

I just re checked the markets and I see the nasdaq crashed below the 200 day moving average on a CLOSING basis for the first time since the pandemic started in 2020.
Anyone have an opinion on this? To me its a very ominous sign unless it quickly closes above it on some volume.
Both the dow and S&P have closed below the 50 dma and looking to maybe find support at their respective 200 dma’s. Eventually the market brings them all down if this is the start of a bear market which I think it is. The low inflation support is gone.
The next hammer to fall would be lowering guidance next week when earnings really begin.

 

[nooby_mcnoob]

Nasdaq didn't close below 200 what are you talking about

Edit: stop making fun of me I was looking at QQQ you bastards.

 

[Concinnity]

I just re checked the markets and I see the nasdaq crashed below the 200 day moving average on a CLOSING basis for the first time since the pandemic started in 2020.
Anyone have an opinion on this? To me its a very ominous sign unless it quickly closes above it on some volume.

Yeah, don't over complicate it that's pretty much correct, although as long as NQ trading above 15154.50, we can still have some nice rallies. For me if we starting trading and particularly closing below that level on a daily basis. Than I'd certainly be perking up looking for bigger down moves and like mentioned in your other post ES to be hitting it's monthly support at 4410 (since the other indexes already hit there monthly support previously).

EDIT: LOL someone else said it didn't close below yet... so maybe double check what you're looking at. Regardless doesn't change my above viewpoint, since I don't use 200 MA.

 

[brightside]

Nasdaq didn't close below 200 what are you talking about

Yes it did.

 

[MKTrader]

Nasdaq didn't close below 200 what are you talking about

Yep. And most of the time when an index hits their 200-day MA, they trade a bit on both sides of it then eventually recover. Things like the dot-com crash and 2008 are the exception, not the rule.

 

[brightside]

Its a clear break below the 200 dma.

 

[nooby_mcnoob]

Oh shit I was looking at nasdaq futures/QQQ.

Nice.

 

[Bugsy]

Nasdaq didn't close below 200 what are you talking about

I think he meant the 200 second moving average.

 

[nooby_mcnoob]

stop making fun of me I was looking at QQQ you bastards.

 

[MKTrader]

Oh shit I was looking at nasdaq futures/QQQ.

Nice.

I'm pretty sure more people look at the QQQ and use it for trading decisions. That's all MAs are any way...there's nothing magic about them. People just watch certain ones (50 and 200 primarily) and pay attention to them. There's no certainty that something will happen if one is breached.