Nasdaq (IXIC) is currently painting a red TD count 12 con monthly timeframe.
It happened only once, back in july 1984 and marked a reversal.
That's almost 40 years ago.
Moreover it's still close to FIB 0.618 of a 2 decade long uptrend dating back to 2002.
We have a falling wedge, a bullish divergence on RSI (Dec '18, March '20).
A bounce from this general area may potentially hint an upcoming generational opportunity.
Closely watch for test of rising support and/or wedge breakout.
As usual DYOR, mind the risk.
Prettified chart:
It happened only once, back in july 1984 and marked a reversal.
That's almost 40 years ago.
Moreover it's still close to FIB 0.618 of a 2 decade long uptrend dating back to 2002.
We have a falling wedge, a bullish divergence on RSI (Dec '18, March '20).
A bounce from this general area may potentially hint an upcoming generational opportunity.
Closely watch for test of rising support and/or wedge breakout.
As usual DYOR, mind the risk.
Prettified chart:
코멘트:
Weekly:
코멘트:
We're about to know whether that's a mere rising wedge or a bearish pennant.
Tipically i'd say that's a pennant, but in this particular case, given proximity of supports area and the peculiar picture of MACD on 2W it may not be the case and it may bounce.
Watch it.
Tipically i'd say that's a pennant, but in this particular case, given proximity of supports area and the peculiar picture of MACD on 2W it may not be the case and it may bounce.
Watch it.
코멘트:
Let's see ...
코멘트:
Weekly TF:
you can see the infraction of support, recovered through a dragonfly doji.
Which looks good. Moreover, Parabolic SAR was respected.
In other words it hit the floor and it's now trying to bounce.
It's important to stay above FIB 0.382 on close on monday and paint a green candle.
For our hyphotesis to gain some traction, 11k area and the upper bound of wedge next week should be the target. From there we'd look for a decisive breakout or rejection.
you can see the infraction of support, recovered through a dragonfly doji.
Which looks good. Moreover, Parabolic SAR was respected.
In other words it hit the floor and it's now trying to bounce.
It's important to stay above FIB 0.382 on close on monday and paint a green candle.
For our hyphotesis to gain some traction, 11k area and the upper bound of wedge next week should be the target. From there we'd look for a decisive breakout or rejection.
코멘트:
S&P500, M: what if ...
?
?
코멘트:
10700 nailed.
Ideally i'd like to see it approach 10900-11100, MA20/W to upper bound of the edge.
Tha's the relevant area id' look into for further hints.
Ideally i'd like to see it approach 10900-11100, MA20/W to upper bound of the edge.
Tha's the relevant area id' look into for further hints.
코멘트:
10890 reached, unsurprisingly.
We saw the chance of a bounce.
It came.
Now let's see if we can get the opportunity.
From now onwards look out for wedge breakout (or rejection).
We saw the chance of a bounce.
It came.
Now let's see if we can get the opportunity.
From now onwards look out for wedge breakout (or rejection).
코멘트:
Tomorrow will be an important day for both Nasdaq and SP500.
See below ...
See below ...
코멘트:
NASDAQ:
S&P500:
Both trying to breakout.
Soon to say, watch'em.
S&P500:
Both trying to breakout.
Soon to say, watch'em.
코멘트:
A very nice move so far, up to the weekly BB.
Let's see the W close.
Let's see the W close.
코멘트:
코멘트:
S&P500:
Where are all the doomsayers gone ?
Just asking.
Where are all the doomsayers gone ?
Just asking.
코멘트:
Guess what ? IXIC above 12200 ;)
코멘트:
No comment, enjoy the ride to resistance.