Nasdaq 100

[Ulysses]

Fourth wave could be finished and now Nasdaq 100 would be developing the last wave of C, the fifth wave.

Take a look at the chart, A wave was a strong movement, B wave was strange and very neutral, C wave seems weak. What I want to say is that last wave could fail.

If a failure exists, you will see a strong bullish movement (first objective: 1.560), but before it is necessary that price try to break the minimums of third wave.

Take into account the possibility of a failure.

 

[Racer]

http://www.comstockfunds.com/index....LOW CAN IT GO&newsletterid=373&menugroup=Home

Or look at http://www.comstockfunds.com
then
LIMBO LIMBO, HOW LOW CAN IT GO?
and there is a pdf file at the end
NASDAQ Composite Price/Earnings Ratio vs Margin Debt (excludes negative earnings)

 

[Ulysses]

Thanks, I only try to read charts.

Fundamentals are not important for me beacuse economical situation has not changed last few months, but price in charts do it.

On the other hand, I would like to say yo, that charts not always reflect the situation of the economy. Think about what happened in Germany about 1930, they had a very big crisis and the stocks market was very bullish, the same occur in Argentina last years, take a look at the Merval.

However I am thankful for your information.

All the best.

 

[Racer]

Yes, I agree I like to read charts mostly, but... it is useful to get a background on the fundamentals because you can be aware of the looming bend at the end! You don't have to go against the crowd but you can be aware that it is a great possibility and be prepared to act quickly, and that is from both a long and short perspective.

 

[Ulysses]

Of course.

However I was talking about a failure of this movement, but market could fail again at the top. In this situation, correction will be fast and strong. I take into account this possibility.

I only trade futures, never shares

 

[wwatson1]

Hi, Im a back to basics guy I like trends and popular moving averages.

We seem to be at present resting on an important support level, I would perhaps favour a long position with stops if nasdaq starts to trade below 200sma and trend for a period of time otherwise look for anouther move up!!??

Does anyone else see this?

Thanks John

 

[Ulysses]

True, that line is very important. Breaking that trend tell me the movement would be finished.

In a long-term basis I think we are finishing movements.

Enjoy

 

[wwatson1]

True, that line is very important. Breaking that trend tell me the movement would be finished.

In a long-term basis I think we are finishing movements.

Enjoy

Hi ulysses
We will just have to wait to see how significant this support is.

 

[culion]

True, that line is very important. Breaking that trend tell me the movement would be finished.

In a long-term basis I think we are finishing movements.

Enjoy

Using log scale, which imo should be the case, that trendline was broken at the beginning of the year.

 

[Ulysses]

Using log scale, which imo should be the case, that trendline was broken at the beginning of the year.

They say that marketmakers never use log scale (I repeat: they say). Gann said we have to use both.

Enjoy