CapitalHubs
Long

Next NASDAQ100 target

INDEX:IUXX   Nasdaq 100 Index
836 22 7
On the chart I have used simple analysis which follows the strength of the recent bull markets and the range of the bear ones as a base for building projection for the next NASDAQ target.

The foundation of the projection is the summer bottom of 2439 registered on 1st of June. Adding the average gain for the previous two cycles (around 750 points) gives a target level of 3200.

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Thank you very much for the analysis. I really like the way of your thinking - simple and logical. But i noticed that you expecting down trend at S&P for the same period (here https://www.tradingview.com/v/mIqv2QYY/). Don't you expect these symbols to correlate as usual?

snapshot


BTW do you offer consulting/education services? Thanks
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CapitalHubs charttrader
Interchart relations are important. I'm glad you compare both charts. To answer to your question: they don't contradict and I expect the correlation to remain positive. Look at the charts carefully, NASDAQ bull run usually continues 3 to 4 months. According to the president cycle analysis S&P rally could last at till end of the year (exactly 4 months from now). Timing is important here.

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you analisis still valid? or go up from here?
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I expect moderate pullback at some point as iPhone5 release is expected to weight down on NASDAQ (probably after mid Sept). Why? Because Apple's weight in the index is more than 10% and because of the negative impact of new product release on the stock.
Apple product launch and seasonal pattern
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Long term pitchfork studies concur with your analysis. A pullback is needed back to the oscillation line on the pitchfork for further up move. Thanks, very logical
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Update: After recent turmoil in AAPL and GOOG shares NASDAQ is slightly above to 200 day moving average. If there is not significant market shaker event sending the index under the 200 MA we are probably headed to the Autumn-Spring bull market according to the Seasonal pattern.
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charttrader PRO CapitalHubs
Thank you for the update.
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