Moving average 200 could not get break down in the last 4 days. It is a strong support. RSI and MACD too low. I believe Nasdaq should close green in monday and the following days.
This pattern looks like a corrective move down off the top made on March 13th. Once that current wave B of 5 down bottoms, we should see a strong five wave rally to new highs. The hard stop is the low of the wave 4 down at 6,634
These are best estimates for a "Bull Moose" rally. Friday is a holiday with markets closed, thus creating a potential inrush of short covering that more quickly propels prices higher.. notice the divergences in lower indicators.. These observations and opinions of mine do not constitute a recommendation to buy or sell any stock, option, ETF , or other investment...
During the Bull Market in Intermediate 3, Nasdaq was my favorite because of its Wave Count, hence the reason for the successful view on the NASDAQ100 – Bullish Minor 5 - Bulls Come-Back article. US Indices synchronized their individual Bearish legs once they reached the tops back on the 2nd of Jan. Same day, right before the sell-off began, I posted the CBOE...
Crypto and Tech Stocks have been acting in a similar fashion (with some time lag). Tech stocks ready for a big drop around FOMC meeting March 2018 - confirmed by bearish divergences and 'unusual' price action also seen in crypto recently.
Big hanging man formed end of Feb 2018 at top of a very long bull run after the all time high set in Jan 2018. The flash crash and push back up to all time high prices, if the market does not push beyond the all time highs in Jan 2018, the short term speculators will pull out. Uncertainty, risk aversion in the light of trade wars, rising yields, possible drop in...
O YES THE FEAR IS HERE.. exciting times for traders worldwide.. To be continued....
Possible H4 short setup NDX. Enjoy ;)
I have a couple lines drawn as you can see. Both provide what I think are points of resistance for a possible brief retracement. The orange line is a daily estimate and the blue line is a weekly estimate (you can switch the views in the upper left corner of your screen right next to the ticker--1D is one day, 1W is one week, etc.) Even though the blue line was...
Nasdaq Advance decline ratio (ADL), correlation between Nasdaq 100 and ADL, % of Nasdaq100 stocks above 20 day moving average, FANG index and Nasdaq equal index analysis...
Like we know the NDX and many other stocks are over valued. Based on the fisher index we are at current highs which need a correction. If I had any long position on the NDX I should sell them now absolutly. I don't really expect a fall of thousands of pips but a retracemend to around 3500 to 3800 around this range is possible. The bubble is not in tech but tech...
Its one of the index I usually look very closely. After the strong drop on 6000 I think it has gone bearish now. But the bullishnes for the last two days have created doubts for me. I still think its bearish because of two reasons: 1) 6000 was an all time high and it needs a good correction to go up. In my opinion a good correction is 0.78 fib mark which is...
NASDAQ 100 index, nears UPtrend support line.
I guess we are in a overvalued state. Many signs say this. And normally we have around every 8 year a down trend in de markets. But like the chart says we are not heavy over valued but we are overvalued compared to the year 2000. But like always time will tell us. Short term we will must see some bearish movement.
When it breaks below the channel, the game is over.