Kumowizard
Short

NAS100 - Trees shouldn't grow to the sky

FX:NAS100   NASDAQ 100 index of US listed shares
41 1 1
Well equities are not trees, so they might go up even to the stars, but surely not without a pause.
Get ready, we may have an interim top soon!

Daily: Slow Stoch has been overbough, slightly pointing down now. MACD is just about to give a sell signal too. When these two traditional indicators give a signal together, that is normally a strong indication.
Ichimoku is still bullish , so in case of a profit taking wave what we can initially expect is a retest to somewhere between 3960-3980.

4 Hrs: DMI-ADX momentum lost, Slow Stoch turning down. Not much power left at this high for Bulls. 100 WMA caought up to Price and is very close now to be attacked soon. Future kumo is getting tighter and flat.

Maybe it is still too early to go all short, but keeping longs for bulls is getting dangerous too.
Key level to watch is 4055-4060. Below that we can expect profit taking to accelerate.

p.s.: In general I think equity mkts expect too much from the ECB. I really doubt ECB would do a FED type of QE             ... at least not now. We'll see how mkts react on the statement later this week.
2use
2 years ago
Yeah, first one bothers me...even more with MACD and other indicators.
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