NASDAQ: Last uptrend signal expires tomorrow

FX:NAS100   NASDAQ 100 Index
Correlating to the other instruments I've analyzed, the NASDAQ is showing bearish signs in the form of multiple time at mode uptrend signals, that show smaller price targets, but equal or larger time targets, thus, implying a loss of momentum in the rally.

After tomorrow, the last uptrend time will have expired, implying it'll be probable to see a retracement or reversal of this rally.
Considering the bigger picture and the levels on chart, it'd be natural to expect a retracement in this zone, and the stop loss on chart offers an attractive reward to risk ratio (stops above 4630 if going short).
You could enter tomorrow on close to be safe, or enter now, that's up to you.
We have bearish RgMov signals, while cci has hit overbought and crossed below +100 again, after breaking a daily low yesterday.

Potential targets for the short would be a retest of the key earnings level at 4209 or a even new quarterly lows.
This would definitely shake out many longs, so it'd be worth monitoring the progress to flip long.
Good luck if taking this trade.

Ivan Labrie.
Trade active
Comment: Amazing, look at the arrow I placed on chart...time for the uptrend ran out today, and today is a heavy down day!
Let's see if we go towards my targets now.
Comment: Today's action is still bearish, if we get freshly baked lows next week we should be in for a smooth ride down.
Comment: Finding some support on the back of rising crude.
Comment: Looks really solid so far.
Trade active
Comment: On track for the proyected target.
this was beautiful by the way. Had i not seen this, i wouldnt have re allocated my 401k before i quit my job. Hefty profit switching over to US Bonds from this. THANK YOU
IvanLabrie Alex.Singletary
That's the idea, even if you're not in this trade, it gives you a general idea of what to expect.
Cheers. :D
how do you calculate the time duration? it is always a fixed number, example 10 days? or is it calc by number of periods between large moves?

how do you calculate the upside target value? do you wait for a high value node on the volume profile, and that is your measurement?

range expansion and ATR are falling, as reflected in the reduced upmoves measurements.

cci shows bearish divergence
Yes, the momentum is dying off, hence producing smaller targets on the way up.
This isn't bullish, but, we still need signs of weakness to enter short, ideally.

I won't go into too much detail here, a bit lenghty to explain, and you can refer to Tim West's publications for basic info on the technique.
More advanced stuff, I'll keep it for private students.
+1 Reply
B120626 IvanLabrie
ok thanks
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