NAS100 week 34

FX:NAS100   NASDAQ 100 Index
This is my MONTHLY VIEW on NAS100            

What we see is normal.
First of all we have to look what is happening around the world.

German stock market has fallen 18% from the top. World MSCI             emerging markets stock index movements in the measurement of this month, has fallen by nearly 10%. This may be the emerging markets worst August since 1998. These markets have lost all that is earned after the month of July 2009.

Exchanges called for at least a 10% drop from the top of the correction. If, however, the decline from the top is 20% or more, it is called a bear market, or declining market. Emerging markets came to the 11th of August, having fallen from the top 20%. Also, Taiwan, and Indonesia is now the bear market in equities. In Europe, the Stoxx Europe 600             broad index of the correction phase. 18 Western European market share has dropped from the tip 13 of at least 10%.

So what I think of it overall is NAS100             is not different and we are on our way to correction from overvalued and overbought market.
I am not saying we are turning NAS100             to overall bullish . We are on our way to correction.
If looking at monthly charts I`d say 3720-ish range is the target from which we should continue our way`s up.
IF the market wont turn out BEARISH overall.
If we go bearish I`d say it will be long bearish journey.

This is it for this month

Lets see and trade smart!


Gert Nurme

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