2use
Short

Nasdaq 100 Waves and possible outcome [short term]

FX:NAS100   NASDAQ 100 index of US listed shares
181 8 4
Should have published this a couple of days ago, when i already have the 3 waves drawn. Surprisingly enough, if you just follow the technicals you will note that everything may play around that. Today we have Russia being lowered on rating by SP500             and 2 red days on tensions between Russia and Ukraine. I am not sure if mr Market timed the events or not, but companies like Yandex, Facebook             , Zynga             , Netflix             - that have reported quite good numbers just got a cold look from the market.

So what now? as the chart shows, it is either down from here, or a small wave down then up, then continue the down sentiment. MACD seems to indicate that there is some potential for going lower at the moment, so the green arrow was added on that. It was added because seeing how the market did not have any strength to even hold or lift the gainers after their ERs, i would leave some room from a straight down action from here. With all this, it seems to be inline with the top in may model, and the prediction of a correction just like in 2011.

Related Ideas

dib309mar
2 years ago
I agreed, ...with your analysis is pretty good....unfortunatelly I preferred to be long...maybe just for 15' minuts...Tks ciao
Reply
2use dib309mar
2 years ago
I would have loved it to break the pattern but even amid good earnings it went down. Sometimes i think technicals are more important than fundamentals.
Reply
NeshoMarinov
2 years ago
Lovely, I'm using also ichimoku, but I like the way you combine ichimoku with EW. I will wait for the retracement and I will go short.
Reply
2use
2 years ago
2014-05-01: Week later and the price is right below the resistance line. Basically tomorrow or on Monday it will show what direction we may go.
Reply
dib309mar 2use
2 years ago
I was looking for few USD and if USA doeasnt goes up than in EU we will have more trouble..
Reply
2use dib309mar
2 years ago
Many sessions now Europe starts the days up in ~1% and then dives with US diving at start. EU is really following us at the moment
Reply
2use
2 years ago
2014-05-06 session end: Well, nas did fall upon touching the trend line and could not break it so far even having a higher low. Many post sell signals on SPY and other indices what makes a pretty gloom picture.
Reply
2use
2 years ago
Note the stop at 3500
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out