Wednesday, February 5, 2020
COMPQ Nasdaq Composite and NDX Nasdaq 100 Daily Charts; Nazzy Indexes Print New All-Time Record Highs
The Nasdaq indexes print new record highs. The COMPQ prints 9575 the highest number in history and the NDX prints its record high at 9443. Sound the Seven Trumpets! Kneel and Worship at the Feet of the AFIGMAN (A Fig Man) Masters that pump the Nazzy's higher; Apple (AAPL), Facebook (FB), Intel (INTC), Google (GOOGL; Alphabet), Microsoft (MSFT), Amazon (AMZN), Netflix (NFLX)).
Price has jumped the top band and is several standard deviations above normal requiring a pull back. Ditto the price elevation above the moving average riibbons. Price is extended requiring a mean reversion going forward at least back to the middle standard deviation bands. Trading volume on these euphoric highs is not impressive. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 11:21 AM EST: The Nazzy indexes above fell into negative territory at 10:30 AM EST but are trading positive again each up about +0.2% modest gains after their historic prints a couple hours ago.
Note Added Thursday Morning, 2/6/20, at 5:38 AM EST: The COMPQ, Nazzy Comp, finishes the 2/5/20 session up 41 points, +0.4%, to 9509 a new all-time record closing high and 9575 a new all-time high. The NDX, Nazzy 100, that is more reflective of the FAANG, and AFIGMAN, stocks above, gains 33 points, +0.4%, to 9367 a new all-time record closing high and 9443 a new all-time high. Note that the all-time highs printed at the opening bell. Interestingly, the S&P 500 prints a new all-time closing high but not a new all-time high. The Dow continues working towards its all-time highs.