Here is a very important chart: the ratio between growth stocks and value stocks.
Wave 3 could be ending soon as we just touched the ML of the PF and hit the 200% extension of W3 vs W1.
We are seeing an extended 5th within W3 which could top at 1.90 with a daily bearish divergence on the RSI.
If this count proves to be correct, we will see NDX under-perform the...
Last night I began to think whether I wanted to be on the long side of this market this very second? It's a fair question for any investor and at this point probably technical traders are asking this question. There is a historically obvious divergence going on in the market. The Nasdaq-100 is currently 3% away from matching its all time high while the S&P 500...
massive divergence on the RSI - monthly chart. It's difficult to look past that. The last divergence I saw like this was on the S&P500 mid feb.
I wouldn't be surprised if we have a ATH, below 10 000 which will be a very difficult psychological resistance to breach.
From macro perspective, it make sense that the nasdaq which is is heavy tech stock index is...
Nasdaq - Here's an interesting analysis. When looking at the Index (1) and the CFD (2), we can make the case for an Expanding Diagonal for the first one and a Contracting Diagonal for the other.
When making measures based on points and if we really want to follow all the rules for this Diagonal(s) to be counted as valid, price MUST GO above 9549.8 BUT MUST...
Congrats on our previous short sell profits to supports to 8950 from 9035 and a buy back up to 9150 as said on ppost in description and as we didn't get a break of trend downside, So easy now at this crucial point of 9150 a break or reverse as usual and as expected, A break upside we go 9250/9450 while downside we go back to 8950 supports if trend breaks we go...
Yesterday I noted how strong the market leaders remained after the Fed Chair spoke on Wednesday and that the end of session rally was impressive enough to make the bears worried. Well, the market followed through in another meaningful way despite historically low retail sales and industrial production numbers on Friday. Although the weekly candle close doesn't...
Looks like we may have broken the long term trend since the start of the rally and could not get back so far but we have seemingly had 2 such false breakouts on SPX so far.
Seeing everyone bearish for a month because they just discovered the (future) catastrophic impact of Covid-19, while the NDX is still going up.
First, yes I agree with most bearish FA here, but please note that even with my average-Joe knownledge, I was expecting the bad news already in March (especially for the US).
If I could predict it with my stupid mind, I...
Looking at NDX vs. inflation.
Looks like in a better shape than SPX (higher highs, higher lows) with - if it breaks current level - a continuation of the bull trend until end of September / beginning of October.
My interpretation of the chart is that a "double top" might be found at this point (0.5 fib from tech bubble in this chart, around 10.000/11.000 pts level...
Nasdaq appears to forming a larger expanding Fractal Pattern that projects a big drop on this market in the coming weeks.
The current larger move up from the low matches almost perfectly the previous 7 wave final up move that preceded the top. Although this is not financial advice, it might be wise to look for sell signals or lighten up any long stock holdings...
I'm all cash so I slept in a bit.
Kinda funny, I drew up this plot yesterday and it bounced off the line so I figure I'd share it. The rally is over if it falls below the bottom trendline. I'm guessing we'll find out for sure on Monday, I bet the market throws a doji today.
I said yesterday that something didn't seem right and stayed out.... glad I did, MU,...
Oil made a big rally past week or 2, past days it was moving inside of a tight range which resulted in a triangle/flag. Now since yesterday it broke upwards, but so far not a big move up yet. This is a bit premature, but this could mean we have a false break out here.
You can also see a small double top on the left, but unconfirmed so far of course. If we would...
