Nasdaq Trading and Technical Analysis
#Nasdaq Composite ended the day up 1.53%.
Tech stocks helped to propel the Nasdaq higher as Facebook gained 3.87%, Alphabet increased 3.29%, Microsoft rose 1.78%, Apple grew 0.54% and Amazon closed up 0.53%.
Markets also responded to comments by Janet Yellen, President-elect Joe Biden's nominee for treasury secretary, during her Senate confirmation hearing. Yellen called for the federal government to take further action to boost the economy hit by the COVID-19 pandemic.
"Neither the president-elect, nor I, propose this relief package without an appreciation for the country's debt burden. But right now, with interest rates at historic lows, the smartest thing we can do is act big," Yellen said. "I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time."
Nasdaq closed up 198.677 at 13,197.179. Volume was 24% above average (neutral) and Bollinger Bands were 42% narrower than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Nasdaq is currently 21.9% above its 200-period moving average and is in an upward trend.
Our volume indicators reflect volume flowing into and out of the Nasdaq at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bullish on the Nasdaq and have had this outlook for the last 49 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles.
During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.
AI is the Neat Handwriting of the Illiterate
A model in the hands of someone who has read the filing and walked the plant is a clerk. The same model, speaking for someone who has done neither, is a disguise. On AI slop, phantom citations and factslop, why finish stopped being evidence of work, and the containment layer KXCO built so a machine cannot speak as the institution until a source is attached.
Worthship: Do Not Conform to the Age
Worthship is the older English word for worship, and it means to ascribe worth. Bishop Robert Barron preached Romans 12 on 30 August. This essay follows the text into the prison letters, and puts two questions to a graph: do the four readings of that Sunday agree, and was Paul free or in chains when he wrote about despair?
The Truth in All Its Ugliness Must Survive
A majority vote does not determine the truth. Consensus is a mood, gossip is a sport, and a model will write the pretty version for free. Why the ugly number has to survive, why a record beats a dashboard, and what KXCO was built to keep standing when the room changes its mind.
Don't Be the Best, Be the Only: Winning in an AI World
AI is repricing competence downward. What it cannot reproduce is a life. The case for remaining non-fungible, why friction still produces the best ideas, and what it means to build AI systems that keep the human intellect in them.
Every story, signed and delivered.
Subscribe to the kxco channel and get the headline, the AI-written key takeaways, and the chain-anchor link the moment we publish. Audio versions and per-ticker subscriptions arrive in the next iteration.