although the zone of 13800-900 is important critical zone for #nasdaq
although, Nasdaq is in a low bank of its flag shaped correction,
but watching volume/price behaviours in other indexes, I expect this pullback will go deeper at least towards 50d moving average.
The first pullback after the first rally ended in stage 2.
#spx and #nasdaq are trending similarly, but of course the Nasdaq Composite has shown relative strength over the past 3 months.
For me, as a swing trader, it's time to be cautiously aggressive.
Before moving forward, I expect a small (couple of days) flag-shaped pause nearby.
obviously, the overall trend of SPX and all other indexes is bullish.
but, as all of them has stretched from their key moving averages, I expect a correction and I hope it will be in shape of a continuing base instead of a sharp pullback.
it can be a new chance to buy the proven leading stocks.
So, I see the market in neutral or even negative for very short-time...
what I see in weekly chart of #nasdaq composite is a finished bear making a double bottom at its floor and etc.
now it needs a strong rise towards13000.
now my finger is on trigger waiting for a strong week.
SPX500 is in its the most critical situation .
not only we can see different signals in various time-frames but also we see a big deferences between various indexes .
in this situation we need to be expect any next scenario and watch the market carefully for next week.
from my point of view, the positive scenario is a bit more likely .
The Nasdaq Composite provides an excellent overview of the fractal nature of the market.
1- The double bottom pattern was completed on January 23
2- The 6-week flag pattern that ended on March 13
3- A smaller cup & handle (green one) were formed.
4- The failure of the small pattern also happened last week.
5- Now we can say that we are already in a new bull...
#bist100 came back from its 200-Day moving average strongly and closed above all key SMAs.
volume spiked too.
now, to start a new up-trend, it must cross above its 6-month "down-trend channel".
personally, according to the Friday gap up, I expect a correction towards the long-time trend line (green line).
it can cause pullback in many leading stocks.
a real bull...
The US dollar index "DXY" has started a positive wave.
According to 200 days SMA, the neckline of this index is 105-106.
Breaking this zone can be the beginning of a new upward trend for this index.
A strong bullish #dxy could positively impact US equity markets, possibly negatively impact #xauusd (#gold).
of course, the buy signal will be the breakout of the...
The #bist100 has gained more than 250% during a bullish period of about 500 days.
Making a new base or pullback is completely normal.
But, especially, after a big fly, any pullback can turn into a big reverse.
I stay away from such a risky market.
If you want to stay in it, please don't use margin and be very careful about risk management.
#spx500 finally closed above 4100.
The monthly candle is also closed there.
At the moment, both ways are possible, but I personally expect the blue route.
The coming weeks can be very volatile for small and medium-sized companies.
the zone of 4100 is a critical zone for #spy.
its the 2nd try to fight with this zone and this time a bit stronger.
I am personally 60% cash and I prefer to stay calm waiting for a strong breakout beyond the 4300 .
for the next week the volume is more important than the price.
1- markets are dynamic
2- when a trend got broken, new one starts not necessarily a reversed of last trend.
3- for now, we can say that, the stage 4 (bearish/ decline faze) has ended.
4- we are now in the end of a stage 1 situation
but, it can go to a stage 2 or new stage 4 . I mean in this situation we cant be sure about the next main trend.
so, being cash or...
We had a bad week in the US stock market.
- SPX lost all its SMA lines and closed below them.
- A big red candle happened and the volume confirmed it.
In my opinion, the good news is that the spx has already completed its phase 4 (bearish) and the lower area of 3500 has been found as the end of the bear market.
The bad news is, the market has lost the fight to...
I personally trade only small to mid-cap companies.
I care a lot to the #russell200
it seems that this index has finished its pullback and according the pattern (double bottom cap+ handle ) can be start of a new fresh positive wave.
Now, as expected, we had a #pullback .
Somehow, it went a little longer and deeper than we expected
The 40W SMA is not in a downtrend and is flattening.
I think another positive swing is going to start. But it won't necessarily be a sharp one.