Chart of the Day - Friday, January 6th, 2023
January 6, 2023
Today’s Chart of the Day was shared by Jay Kaeppel (@jaykaeppel). The Nasdaq 100 kicked off the 2023 on a positive note this week, gaining 0.92%. It's still the weakest major index, down more than 33% from its peak. Jay points out that 10,700 is the line in the sand for the Nasdaq. This support level dates back to September 2020 and it's been tested several times in the past six months. It's constructive to see us continuing to hold above it for now. But as Jay would say, "if the line doesn't hold, it's time to fold."