IXIC retreats from highs: Tech diverges, 23,000 eyes 23,500
$NASDAQ(.IXIC)$ closed at 22,953.67 (-0.16%), down 0.39% from the year-to-date high of 23,043.38 (October 8).
Daily Drivers
The Dow Jones Industrial Average hit a new high, boosted by earnings, while the Nasdaq fell slightly due to adjustments in some large-cap stocks.
Technical Analysis
The trend remains in place, with the RSI showing moderate strength, nearing the upper edge of the rising channel.
Re-crossing 23,000, eyeing 23,500; looking back at 22,700/22,500.
Valuation Observation
Overall P/E is above the historical average.
⚠️ Risks
Financial reports, interest rates and US dollar fluctuations.
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