KrunchieKilleen

NASDAQ 100 SHORT BOUNCE

FX:NAS100   NASDAQ 100 Index
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I reckon a Clinton victory in tomorrow's presedential election will boost the NASDAQ 100 and bring it through the Resistance Line, but a Trump victory will cause it to bounce back down. Meannwhile, share prices have been held in restraint for a whole year by the anticipation of FED rate increases. It is now clear that restoring normal interest rates will take several years, so an increase in December will have less effect on prices than I previously thought. If the chart goes through my Resistance Line and holds for a week, I will abandon my prediction of a downtrend. However, a downward bounce will convince me the downtrend is real
Comment: The predicted bounce-down did not happen on Trump's victory, but the curved Resistance Line is holding. Technically we are still in an uptrend, since the last peak (around 24 October) was higher than the previous one. However, the slope has eased and the next peak is likely to be lower than the last, signalling the commencement of the downtrend.
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