{"id":169516,"date":"2023-10-06T19:42:32","date_gmt":"2023-10-06T14:12:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=169516"},"modified":"2023-10-06T19:42:32","modified_gmt":"2023-10-06T14:12:32","slug":"why-splendid-employment-data-spells-a-bearish-trend-for-nasdaq-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-splendid-employment-data-spells-a-bearish-trend-for-nasdaq-crypto-news\/","title":{"rendered":"Why splendid employment data spells a bearish trend for Nasdaq? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<p><strong>The limelight in today&#8217;s technical analysis undeniably falls upon indices, courtesy of the first Friday of the month delivering <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/economic-indicator\/nfp\">non-farm payrolls<\/a> that staggeringly surpassed expectations: a solid 336,000 against the forecasted 171,000. This exhilarating number, counterintuitively, catalyzed a bearish dip in indices. And the rationale behind this somewhat paradoxical reaction? Quite straightforward, really.<\/strong><\/p>\n<p>When the economy performs robustly, as is the evident case here, room to elevate rates in a bid to counteract inflation becomes a palpable reality. This perspective of potential rate hikes inherently casts a shadow on indices while simultaneously propelling the American dollar, a sequence clearly evidenced in current market dynamics. The prevailing sentiment leans towards expectations of further rate augmentations.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/NSDQDaily-638321956941818975.png\"><\/a><\/p>\n<p>Drilling down into the technical specifics, particularly zeroing in on the Nasdaq, we observe a petite sideways trend firmly in place since the 21st of September, encapsulated between two orange lines. Zooming out for a broader perspective reveals a falling wedge pattern, delineated by black lines, wherein the lower orange and black lines stand out as pivotal supports for Nasdaq.<\/p>\n<p>A descent below these two lines, marked by a price closure beneath them today, would unfurl an unambiguous sell signal, whereas maintaining a position above allows buyers to harbor a glimmer of hope for a rebound off these supports. While the current situation doesn\u2019t explicitly unfurl a major sell signal, it lingers ominously on the horizon, with the trigger poised to be pulled upon a breakdown of those two supports.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The limelight in today&#8217;s technical analysis undeniably falls upon indices, courtesy of the first Friday of the month delivering non-farm payrolls that staggeringly surpassed expectations: a solid 336,000 against the forecasted 171,000. This exhilarating number, counterintuitively, catalyzed a bearish dip in indices. And the rationale behind this somewhat paradoxical reaction? Quite straightforward, really. When [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":26157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,333,457,1380,252,247,253,249,256,254],"class_list":["post-169516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-macroeconomics","tag-nasdaq","tag-nfp","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=169516"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169516\/revisions"}],"predecessor-version":[{"id":169517,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169516\/revisions\/169517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/26157"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=169516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=169516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=169516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}