Friday at a glance: the Nasdaq went up to 12,227 Friday, gaining 0.69%.
Nasdaq is 48.76 points away from testing key resistance at 12,275. Peaking above this level could inspire market bulls and open the path to further gains. The Nasdaq's upper Bollinger Band® is at 12,477, this is a slight indication of a slowdown. In contrast, the Nasdaq is currently trading around the 12,200 Fibonacci resistance level.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest the Nasdaq is set for a reversal in the coming days.
Other markets are also showing gains as Nikkei climbs 1.4% Friday and closed at 28,458. Notably, Dow Jones rose 0.8% Friday and closed at 33,826. FTSE went up by 0.5% Friday, and closed at 7,870.57.
Elsewhere, United States ISM Manufacturing PMI (Apr) is scheduled for tomorrow at 14:00 UTC.
The index has been trending positively for about a month. The Nasdaq has recovered 18.89% since descending to a significant low of 10,200 around 4 months ago.