In the early American session, the Nasdaq market composite index, #NDX, is trading below the EMA of 200 on the 1-hour chart, within a slightly bearish channel. At this time of writing, it has a slight increase of 0.14%.
Investors are still watching the quarterly earnings season and the next few days will be intense, with publications from industrial companies like Boeing and tech companies like Apple, Microsoft, Amazon and Alphabet.
Those corporate results are generally good, but analysts say high market valuations have calmed spirits and high expectations lead them to punish any disappointing details.
The yield on the 10-year Treasury bond is rising to 1.56%, which is giving strength to the US dollar, and this could push down the Nasdaq Index.
On the chart, we can see that the Nasdaq 100, #NDX, is trading below the downtrend channel. It is likely that there will be a pullback towards the top of the downtrend channel that will be a good selling opportunity.
On the other hand, a consolidation below the 200 EMA and 21 SMA both are located in the 13906 zone, the bearish pressure could accelerate and fall to the 13640 support zone.
The eagle indicator is showing bearish signal any movement to resistance levels (13975) will be a good opportunity to sell.
Support And Resistance Levels For April 26 - 27, 2021
Resistance (1) 13,983
Resistance (2) 14,015
Resistance (3) 14,075
Support (1) 13,875
Support (2) 13,772
Support (3) 13,633
