NASDAQ: Last uptrend signal expires tomorrow
Correlating to the other instruments I've analyzed, the NASDAQ is showing bearish signs in the form of multiple time at mode uptrend signals, that show smaller price targets, but equal or larger time targets, thus, implying a loss of momentum in the rally.
After tomorrow, the last uptrend time will have expired, implying it'll be probable to see a retracement or reversal of this rally.
Considering the bigger picture and the levels on chart, it'd be natural to expect a retracement in this zone, and the stop loss on chart offers an attractive reward to risk ratio (stops above 4630 if going short).
You could enter tomorrow on close to be safe, or enter now, that's up to you.
We have bearish RgMov signals, while cci has hit overbought and crossed below +100 again, after breaking a daily low yesterday.
Potential targets for the short would be a retest of the key earnings level at 4209 or a even new quarterly lows.
This would definitely shake out many longs, so it'd be worth monitoring the progress to flip long.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
After tomorrow, the last uptrend time will have expired, implying it'll be probable to see a retracement or reversal of this rally.
Considering the bigger picture and the levels on chart, it'd be natural to expect a retracement in this zone, and the stop loss on chart offers an attractive reward to risk ratio (stops above 4630 if going short).
You could enter tomorrow on close to be safe, or enter now, that's up to you.
We have bearish RgMov signals, while cci has hit overbought and crossed below +100 again, after breaking a daily low yesterday.
Potential targets for the short would be a retest of the key earnings level at 4209 or a even new quarterly lows.
This would definitely shake out many longs, so it'd be worth monitoring the progress to flip long.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
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Bình luận:
Today's action is still bearish, if we get freshly baked lows next week we should be in for a smooth ride down.
Bình luận:
Finding some support on the back of rising crude.
Bình luận:
Looks really solid so far.
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Bình luận:
On track for the proyected target.
Let's see if we go towards my targets now.