If you zoom out on the nasdaq price it looks like a bubble about to pop. 1. That's why we use logarithmic charts for long term stuff. All compound growth looks like that! Compound growth is exponential. Don't post your bearish stuff on tradingview if you don't understand that. 2. Look at the change in price to earnings. No significant increase. In the tech bubble the average p/e for the nasdaq was 200+. Now, it's 25. It's not increased much in recent years and the average p/e for the s&p is 24 now. The nasdaq is reasonably priced. Yes, it looks like a giant bubble, but earnings have followed suit: this price rise is ABSENT OF SPECULATION and entirely justified. price has risen IN LINE WITH EARNINGS. the reason for the huge price rise is that tech companies have been outperforming significantly! Any significant price drop (5% or more) will be a buying opportunity until the economic fundamentals change and the future of US companies starts to look less stable. 3. Tech took a hit from the trade war fears for no good reason. that was the buying opportunity of the year.
Sell at 7600 because RSI will probably be about 80 then, macd approaching the top too, and price reaching to the top of the trendline. Wait for a few % drop in price and a better macd/rsi to get back in. Easy money.
Why say sell at 7600 when you’re new post is bullish?
milobowman
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@JakePescaia, i'm still bullish long-term. But within an uptrend there are still moments where it goes down. I entered this trade at the start of july and it's a fairly good time to sell, and wait for the next entry. As you can see on the chart, it would have been a great idea to sell on the 20th of june, because by the 25th it had gone down significantly. That's how the market works, there are ups and downs within a much bigger uptrend or downtrend. I want the ups of the uptrend!
The_Unwind
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For the record I am a SUPER BEAR on the Nasdaq 100. REASON WHY : Technical Formation known as a RISING WEDGE<
When the formation breaks to the downside as it eventually will, as they say watch out BELOW.
Nasdaq Sept. Futures opened 7/26 Trading
Minus 57.25 points at 7412.25, with a low of 7388.50 thus far tonight.
The High on 7/25 for Sept. NDX Futures was 7530.00 late this afternoon.
In a little more then 2 hours elapsed time, the Nasdaq 100 Futures have dropped 141.50 points,
from high to low, they say on disappointing earnings after hours from Facebook.
Who knows, the biggest FANG stock Amazon, reports earnings after the market closes on 7/26.
The moral of this short post is that there is "really no EASY MONEY,"
just fear and greed to keep all the players in check, and around to survive, for the next day's trading. I have been trading since 1978.
Blow off rally in NDX100 is in full swing now. Serious Divergences abound and are growing.
A/D Line Falling NDX Bullish Percentage below 60 % !
Beware. Things that rise so effortlessly, end just as suddenly. POOF