Nasdaq Composite Index Analysis After Fed Minutes . After the July Fed minutes Nasdaq composite Index closed off days high Technical analysis.
Fed Minutes Key Take away’s:
The divide appeared in minutes released from the Federal Open Marketing Committee’s July meeting, when central bank policymakers voted to hold the target rate to a range of 1 percent to 1.25 percent. The summary portrays views that inflation ultimately will get to the Fed’s 2 percent target but is clearly not there yet.
Nasdaq Composite Index Analysis:
The technology – laden Nasdaq Composite index COMP , rose 12.10 points , or 0.2% to close at 6343.11. Nasdaq Composite Index has ended the day with Doji trend reversal candlestick pattern. So as long as today’s high not broken the trend remains negative.
Nasdaq Composite opened the day on positive note 15.10 points upside and went slowly to the highs of the day to the level of 6374.56. After the release of FOMC July minutes release the Nasdaq Composite index become volatile and slowly drifted towards the low.
Nasdaq Composite index concluded its corrective wave from 6214 to 6377. So one more impulsive corrective wave is bending As per the recent wave counts. Hence trade the Nasdaq Composite index with negative bias.