Preemptively, our predictive analyses, forecasts and data is for educational purpose only. We use the fantastic array of technical tools ever assembled into one site through TeamViewer, and we go to town.
In this heavy weight Nasdaq top-leader, we could not help but stop whatever beekeeping activity we were doing as we heard the sound of a branch cracking off of that young Nasdaq tree. We knew already that these widow makers (that's how they call these dead tree branches threatening to fall on the viril calvarium of unsuspecting axe-wielding husbands) have caused many life insurance plans to be delivered in the past. See we looked up.
The savvy trader who knows the sea of market geometries will likely recognize that the current price level settled at a pattern completion. This also implies that the preceding pattern was a . However, we have defined our "EAGLE's Nest" (in bubble gum pink) to suggest that a rally remains a possible event. EAGLE refers to an older counter-trend strategy we have named, because it allows for an (E)arly (AG)gressive (L)evel of (E)ntry at that zone. You will see that today, we achieved a similar completion with #GOOG based on a predictive analysis rendered just three days ago on 28 JAN 2014 - See #Google chart here: .
The trader who's mantra is to trade by structural highs and lows will appreciate the cautionary 37.61 and tolerance level defined at 38.98. This is to imply that any adverse excursion should concern the bulls and call them back from the pastures before bear-rain trickled in. What a novice structural trader would notice is the formation of lower-lows and lower-highs in two consecutive events from the historical high of 38.98. Whether this represents a respite among bulls is less certain, as our signal has confirmed a market reversal at this point.
Based on the signs (see details above) and our own market reversal confirmation signal, we felt inclined to feed the data in our hand-cranking copper-top wooden machine. The forecasts that spewed at the bottom of our proprietary barrel were as follows:
1) Primary Target, TG-1 = 33.28
2) Secondary Target, TG-2 = 31.10
3) Target Low, TG-Low = 29.23.
Based on above preponderance of data, we raised a red flag by downgrading TradingView.com's "Market Direction Prediction" button to "Short". Transgression of significant overhead resistance would be required to revert back to even a "Neutral" designation. Until such time or that of another significant technical event, we will done our beekeeping suits back on, keeping that micro-softening "Widow Maker" in mind.
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
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Want to explore our recent successful forecasts?
- Archived here:
- A few examples there:
1 - #USDollar: http://on.fb.me/19Pf77y
2 - #AUDUSD: http://on.fb.me/1kDHbdB
3 - #NGAS: http://on.fb.me/1aSMYHV
Disclaimer: All of our analyses are for educational purpose only. The forecasts, analysis and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice from Bob Lobb Law and enter the market at your own perils - 4xQuad, LLC.