{"id":18139,"date":"2019-04-27T01:21:26","date_gmt":"2019-04-27T01:21:26","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=18139"},"modified":"2019-04-27T01:27:50","modified_gmt":"2019-04-27T01:27:50","slug":"nasdaq-breaks-resistance","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/04\/27\/nasdaq-breaks-resistance\/","title":{"rendered":"Nasdaq breaks resistance"},"content":{"rendered":"<p>Real GDP growth came in at a healthy 3.2% for the 12 months ended 31 March 2019. Growth in total hours worked is lagging below 2.0%, suggesting that further acceleration is unlikely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-04-26-realgdp.png?w=525&#038;ssl=1\" alt=\"Real GDP and Total Hours Worked\" \/><\/p>\n<p>Growth in total non-farm payrolls continues at close to 2.0%, minimizing the chance of an interest rate cut by the Fed.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-04-26-payroll.png?w=525&#038;ssl=1\" alt=\"Payroll Growth\" \/><\/p>\n<p>The S&amp;P 500 is testing its previous high at 2940, while a rising Trend Index (13-week) indicates buying pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-04-26-spx.png?w=525&#038;ssl=1\" alt=\"S&amp;P 500\" \/><\/p>\n<p>The Nasdaq 100 broke resistance at 7700, signaling another advance. Expect retracement to test the new support level. The long-term target is 9000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-04-26-ndx.png?w=525&#038;ssl=1\" alt=\"Nasdaq 100\" \/><\/p>\n<p>A rapid advance would outstrip earnings growth, with high earnings multiples warning of elevated risk. The market is quite capable of continuing this behavior for an extended time but I urge readers to be cautious and look for rising sales and earnings to support the stock price.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real GDP growth came in at a healthy 3.2% for the 12 months ended 31 March 2019. Growth in total hours worked is lagging below 2.0%, suggesting that further acceleration is unlikely. Growth in total non-farm payrolls continues at close to 2.0%, minimizing the chance of an interest rate cut by the Fed. The S&amp;P &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/04\/27\/nasdaq-breaks-resistance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nasdaq breaks resistance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,46,3761,57,34],"tags":[1723,2401,2870,3010,4037],"class_list":["post-18139","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-deficit-spending-employment","category-gdp-and-activity","category-stock-markets","category-us-canada-countries-regions","tag-hours-worked","tag-nasdaq-100","tag-real-gdp","tag-sp-500","tag-total-employment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nasdaq breaks resistance - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq breaks resistance - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Real GDP growth came in at a healthy 3.2% for the 12 months ended 31 March 2019. Growth in total hours worked is lagging below 2.0%, suggesting that further acceleration is unlikely. Growth in total non-farm payrolls continues at close to 2.0%, minimizing the chance of an interest rate cut by the Fed. The S&amp;P &hellip; Continue reading &quot;Nasdaq breaks resistance&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/04\/27\/nasdaq-breaks-resistance\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-27T01:21:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-27T01:27:50+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-04-26-realgdp.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Nasdaq breaks resistance\",\"datePublished\":\"2019-04-27T01:21:26+00:00\",\"dateModified\":\"2019-04-27T01:27:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/\"},\"wordCount\":136,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-04-26-realgdp.png\",\"keywords\":[\"hours worked\",\"NASDAQ 100\",\"Real GDP\",\"S&amp;P 500\",\"Total Employment\"],\"articleSection\":[\"Banks &amp; Interest Rates\",\"Deficit Spending &amp; Employment\",\"GDP and Activity\",\"Stock Markets\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/\",\"name\":\"Nasdaq breaks resistance - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-04-26-realgdp.png\",\"datePublished\":\"2019-04-27T01:21:26+00:00\",\"dateModified\":\"2019-04-27T01:27:50+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-04-26-realgdp.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-04-26-realgdp.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/04\\\/27\\\/nasdaq-breaks-resistance\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nasdaq breaks resistance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nasdaq breaks resistance - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Nasdaq breaks resistance - the patient investor","og_description":"Real GDP growth came in at a healthy 3.2% for the 12 months ended 31 March 2019. Growth in total hours worked is lagging below 2.0%, suggesting that further acceleration is unlikely. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4Iz","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16550,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/07\/sp-500-and-nasdaq-relief\/","url_meta":{"origin":18139,"position":0},"title":"S&#038;P 500 and Nasdaq relief","author":"Colin Twiggs","date":"July 7, 2018","format":false,"excerpt":"June average hourly earnings growth came in flat at 2.74% for Total Private sector and 2.72% for Production and Non-supervisory Employees. This suuports the argument that underlying inflation remains benign, easing pressure on the Fed to accelerate interest rates. The S&P 500 rallied off its long-term rising trendline. Follow-through above\u2026","rel":"","context":"In &quot;GDP and Activity&quot;","block_context":{"text":"GDP and Activity","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/gdp-and-activity\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17724,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/11\/its-a-funny-kind-of-bear-market\/","url_meta":{"origin":18139,"position":1},"title":"It&#8217;s a funny kind of bear market","author":"Colin Twiggs","date":"January 11, 2019","format":false,"excerpt":"The US economy continues to show signs of robust good health. Total hours worked are rising, signaling healthy real GDP growth. Growth in average hourly wage rates is rising, reflecting a tighter labor market. Underlying inflationary pressures may be rising but the Fed seems comfortable that this is containable. The\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15674,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/nasdaq-and-sp500-meet-resistance\/","url_meta":{"origin":18139,"position":2},"title":"Nasdaq and S&#038;P500 meet resistance","author":"ColinTwiggs","date":"August 4, 2017","format":false,"excerpt":"July labor stats are out and shows the jobless rate fell to a 16-year low at 4.3%. Unemployment below the long-term natural rate suggests the economy is close to capacity and inflationary pressures should be building. Source: St Louis Fed, BLS But hourly wage rates are growing at a modest\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20206,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/04\/04\/sp-500-lets-hope-for-a-recession\/","url_meta":{"origin":18139,"position":3},"title":"S&#038;P 500: Hoping for a recession","author":"Colin Twiggs","date":"April 4, 2020","format":false,"excerpt":"A recession is normally identified as a contraction of real GDP for two consecutive quarters. A depression is a GDP contraction of at least 10% or a recession that lasts for at least two years. At present, with the level of liquidity injected by central banks and prospects of large\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18804,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/31\/sp-500-donald-trump-and-the-next-recession\/","url_meta":{"origin":18139,"position":4},"title":"S&#038;P 500: Donald Trump and the next recession","author":"Colin Twiggs","date":"August 31, 2019","format":false,"excerpt":"Treasury yields continue to fall, with the 10-Year testing long-term lows at 1.50%. A sign that investors are growing increasingly risk averse. Crude oil prices remain weak; a bearish signal for the global economy. Breach of support at $50\/$51 per barrel would warn of a decline to $40. Volatility (21-Day)\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31801,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/04\/02\/oil-shock-or-global-stagflation\/","url_meta":{"origin":18139,"position":5},"title":"Oil shock or global stagflation?","author":"Colin Twiggs","date":"April 2, 2022","format":false,"excerpt":"10-Year Treasury yields are testing resistance at 2.50%. Expect retracement to first find support but a subsequent breakout would offer a target of the 2018 high at 3.25%. Unemployment is testing pre-pandemic lows at 3.6% for U-3 and 6.9% for the broader U-6. In 2007, the unemployment (U-3) low was\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"10-Year Treasury Yield","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-10y.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-10y.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-10y.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=18139"}],"version-history":[{"count":4,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18139\/revisions"}],"predecessor-version":[{"id":18143,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18139\/revisions\/18143"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}