I have a small short on here. Really a place to be neutral at this island gap and break in uptrend
oversold or strong bull market,, in year 2000 you have miss all that bullish move if you look at this indikator,,,
Possible bullish movement target at angle b,,,
need to break angle a and c for possibe bullish movement. we have an gapfil wtih tail close angle b and we can take swing buy position wth sl at the angle b. The price need to hold angle b for possible bullish bounce,,,
Super Bullish Stock Market 2013-2020
Possible Long term peak box Nikke 225
Possible IHS Nasdaq target 3700 mid summer,,,(possibe peak)
On the second week of May 2006 the NQ changed his strong trend. Now the pattern looks pretty similar IMHO or at least interesting. As the pattern is a bit out of phase (by a month) we might not have the same "Sell in May", but a RSI divergence is again in the cards as well as a parallel test and potential immediate gap fill (2nd gap since Jan).