Good news for all who wait for market drop. Bearish divergence was formed by RSI near a strong resistance level. It's the 1st solid reversal signal on the daily chart. Probably we'll see down movement and based on hourly charts we can try to open short trades. There is only one thing which does not support our short trades now. It's ADX confirming strong up movement. If ADX reverses and starts falling, we'll be able to open short trades on the daily chart also. For all short trades stop orders must be placed above 4800. Targets are these reversal zones. MA20, MA50 and MA100 can be strong lines for reversal the market in the direction of the up trend.
Good work and thanks for that , and hope to be a correction soon.
DLavrov
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Thank you! Sure, one day we'll see a correction wave)
giloc
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Hi...Actually it looks the Fed is keeping the market high cause all the bad new about productivity, Gdp, Brexit, Falling Copper prices (that usually mean recession)...did nothing...so....my opinion is that Nasdaq has to run up another 100/110 points before (eventually) going down....Regards and good trading.
DLavrov
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Thank you very much for your comment )
Nielsentrading
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well my friend look like we go up again, it has no meaning trying the shorts, NDX wont go down - I have the feeling it can go on forever - now the 8th week in row. It is frustrating. I am not trading just looking at the charts and seeking new tools in metals or Forex. I keep watching your charts have a nice evening best regards Claus
DLavrov
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Claus, thanks for your comment! Yes, probably NASDAQ will touch 4850 or 4900. It does not matter. We have up trend and we should not wait for huge drop. But correction wave must be.