Nasdaq Composite Near A Short-Term Top Above 5000 Points
No sell recommendation until the Nasdaq Composite starts to follow the idea I projected here.
Scenario: Potential decline starting around late this week, early next week (July 15-19), with support around 4900 points.
Entry: When this Friday, next Monday shows growing weakness and falls below 5000 points.
1. Target: 4900 points
2. Target: 4800 points (monthly pivot point)
Stop loss: 5035 points
With short entry at 5000 points; Risk: 35 points (5035). Reward: 100 points (4900), or 200 points (monthly pivot at 4800 )
Scenario: Potential decline starting around late this week, early next week (July 15-19), with support around 4900 points.
Entry: When this Friday, next Monday shows growing weakness and falls below 5000 points.
1. Target: 4900 points
2. Target: 4800 points (monthly pivot point)
Stop loss: 5035 points
With short entry at 5000 points; Risk: 35 points (5035). Reward: 100 points (4900), or 200 points (monthly pivot at 4800 )
Comment:
0 upvotes for my chart after two days and the FTSE 100 looks today (Thursday) like this = growing chance of a reversal in the next days:
