Low 29th October
Establishes a 2 week cycle low
Next cycle low end of this week
Reversal established when index gapped above 7071 on 7/11
Double bottom (pullback) at 50% retracement off the reversal
31st October opening gap now filled
The combination of these factors signal a bullish rebound.
NASDAQ COMPOSITE’ (IXIC) is also ready to continue falling.
We have the bearish divergence on the RSI , which resulted in a huge crash when it showed up back in the year 2000.
Right now is different, IXIC is already going down strong.
Expect for to go down further.
Support levels marked on the chart.
Note: This is no trade advice.
First, note how price backed off and failed to touch the higher trendline in August.
Next, the market provided another clue, as the next rally showed bearish divergence on the Stoch RSI.
Though prices bounced from a fairly critical trendline, the last week as confirmed the down direction as price as sold at the 20EMA.
It is fair to assume that more downside ...
It was a very exciting trading week ended on Friday 04th October 2018, it just goes to show that what goes up must definitely come down.
Based on the last 2 trading sessions, the question we should be asking now is how far down will the markets be going? What does this new week bring? Some weeks it is difficult to technically forecast the market movement and I ...
The story of the NASDAQ is the story of a lot of global equities at this point. The SPX and DE30EUR come to mind.
This, among others, is what makes me doubtful of new DJIA highs. I've singled out the NASDAQ because the bearish divergence is the clearest.
I favor shorting the NASDAQ on intraday rallies because of this clarity. A break of green support to the ...
I'm using this mainly to see how it influences other stock markets.
I've entered a small position size short on this based partly on experience on the 1H time frame. But that's not where the main action is.
This market tends to influence events in the Indian and Japanese stock markets.
Last post: May 29th. See chart.
Review: Price was trading just below resistance. A break and close above was required to suggest a bull trend continuation.
Update: The break and close was confirmed by the close of trading yesterday.
Conclusion: A bull trend continuation is now required to give confidence in the next bull run in stocks.
Any comments or ...
This major US index is featuring for the first time on our TradingView blogs.
Current setup: Price has been trending well and may be the first index to breakout from consolidation it has been in since the start of 2018.
Conclusion: Patience needed until a break and close as well as a bull trend confirmation above the March 2018 high.
Any comments or ...
It's always better to wisely chose your index, to short the weakest, and buy the strongest. I think by comparing performance between SPX/NASDAQ we could better chose the index. Currently the NASDAQ is the strongest index. But my analysis is showing a reverse is possible and NASDAQ could become weaker than SPX in the next weeks.
To me Amazon is a clearly heading for new heights, as the Coppock curve ( Eclipse) has just turned positive, also so has the Aroon oscillator, showing a positive trend has emerged. This is supported by the Cyclic lines showing the positive stock trend is just one of many. The 50 moving average is providing support, and the stock recently broke out of the sending ...
SPX downside to 2000
1. Total CBOE Equity option volume broke Brexit highs and 1YR +2StanDevs at 36 to trade at 38 indicating we are entering an aggressive sell-off period (holders of underlying have scrambled to hedge their exposure in a fashion more aggressive than brexit! - which is particularly saying something given that we saw SPX trade 10% ...