Welcome to Extreme Investor Network, where we provide you with the latest insights and analysis on the Stock Market, trading, and Wall Street. Today, we dive into the recent movements of the Daily US 100 CFD (Nasdaq) index.
The Nasdaq Composite experienced a 0.7% decline on Monday, driven by a significant selloff in major technology names. Notably, Nvidia, a key player in the AI space, saw a more than 5% drop, continuing its losses from the previous week. This downturn also affected other semiconductor stocks like Taiwan Semiconductor Manufacturing, Broadcom, Marvell Technology, and Qualcomm, leading to a 2.3% decrease in the Philadelphia Semiconductor Index. Despite this, tech stocks have played a crucial role in boosting the market this year, with the Nasdaq recently reaching all-time highs.
Taking a closer look at the US100 (Nasdaq) index, we see a bearish momentum as prices have dipped below the 50-4-hour moving average and the key support area. The RSI indicator is also on the decline, indicating weakening buying pressure. The chart suggests a short-term downtrend with the potential for further decline, with significant room to the downside.
At Extreme Investor Network, we keep you informed about the latest trends and developments in the stock market. Stay tuned for more insights and analysis to help you navigate the world of trading and investing.