Chart of the Day - Friday, April 11, 2025

Patrick Dunuwila
April 11, 2025

Chart of the Day


🏆 Today's Chart of the Day was shared by Chris Kimble (@KimbleCharting).
 

  • The Nasdaq Composite had its best week since November 2022, rallying +7.3%. The index puked more than -5% to start the week. However, it bounced +13% from Monday's low. 
     
  • Chris points out that the Nasdaq Composite tested a 16-Year Rising Trendline this week. 
     
  • This trendline dates back to the 2009 low. It represents the secular bull market trend, considering it supported the cyclical bears in 2020 and 2022. The more times a trendline is touched, the more significant a potential breakdown becomes.  
     

The Takeaway: The Nasdaq Composite successfully tested a 16-year rising trendline this week. This trendline has been validated several times, making any future breakdowns more significant. 
 

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