Nasdaq - after more than a year, the Monthly candle is breaking out 20 SMA and it implies that IT shares would be benefiting of this. Strong DXY is also helping the cause.
Attention this is a RED ALERT!
On 05/16/23 the Nasdaq Composite (IXIC) appears to have completed an Elliott wave Ending Diagonal Triangle. If so this could be the final wave up of the rally that began in October 2022. On 05/16/23 the IXIC advance/decline line was bearish. 15 -minute MACD and RSI have significant bearish divergences.
May is the start of a...
For my followers who are unfamiliar with the Indexes , The IXIC is the entire nasdaq where as the QQQ (NDQ) only represents the top 100 tech; This distinction is important in what I'm about to explain.
Since Feb the IXIC has not been able to get over 12,280 while the QQQ has made a higher high since Feb; This is because only 5 tech names have been moving...
FED "pivot" hopes won't die.
Bank collapses are "good for the stock market".
AI mania has the meme market looking alive again. NVDA, a company in which both revenue and earnings have dropped significantly over the past 3 quarters, is trading at 150+ P/E and 25xSales with a $666Billion market cap!
We're "back to normal" folks! /s
I LOVE how this classic Market...
An idea for IXIC showing a strong trend line in white that should be respected.
This works well with a double top, a bearish pattern.
A channel can also be drawn encompassing the double top.
I have posted key price points with the labels.
THIS IS JUST A THOUGHT OF SOMEONE WHO LOOKS AT THE MARKET FROM A BEAR POINT OF VIEW- NO ADVISE
Publishing here the history of economics effect on stock market
I took the last couple of crisis (bubble at 2000 and the real estate crisis on 2008) and added the bellow charts
- Inflation
- Interest
- Unemployment
Once thing is clear- each time inflation went up-...
It’s said that three out of every four stocks will follow the trend of the general market. It’s also known that the best opportunities come when a bear market ends, and a fresh new uptrend begins. The question is, how do you know when a new uptrend starts?
The Follow Through Day
A Follow Through Day was defined by William O’Neil as “when one of the major market...
The strong trendline in white shows that IXIC is looking for another touch.
I see 10k as a strong psychological support and the spot for price to be tested.
Drawn a little dotted trend line to show downward movement.
To 10K !
hi 🖖🏼
there is no reason to say yea i'm bullish AF ON BTC....but yes BTC can move sideways inside a box (1M 15k-28k)
for now BTC touched wyckoff target (check last BTC update-28100 USDT) and it's possible to see correction till 25100 USDT
but what can ruin normal moves on BTC?....breaking a specific level on ICXC (nasdaq) chart....like 61.8 fibo or MA200,...
Firstly,
September 2007 - Lehman Brothers collapse
March 2023 - Silicon Valley Bank collapse
Asset correlations (bottom pane):
Gold ( red ) - on a slow rise in 2007, same as today
Dollar strength ( blue ) - bearish in 2007, same as today
Nasdaq (orange) - bearish in 2007, same as today
Indicators' inference :
The top pane shows a...
