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The NASDAQ keeps running Print
Written by Site admin   
Tuesday, 13 March 2018 16:50

 Way back, on the run up to the millenium, we had the tech boom. Add the word 'Internet' to any start up and away it went stock price rising into the stratosphere. Earnings, who needs earnings? You just needed the magic words, 'Internet start up' and the money cascaded in.

'It's different this time' was the cliche of the times, and it was - until it wasn't.

nqmonthly

Where are we now? In another tech boom, 1800+ points above the last peak in 2000.

The soon to be available, Nasdaq Trading course indicators with the FibFinder add on are suggesting the time might just be ripe for a top. Notice how the Colour Charts do a great job of defing the momentum trend runs, and changing colour when it's prudent to take profits. It'll be time to take cover when the next candles turn red.

nqdaily

 

From the blog

The NASDAQ takes a 500 point tumble...

 

The NASDAQ takes a 500 point tumble...

Markets thrive on uncertainty and that's exactly why these false break-outs work so well. The majority expect the new high to be just the start of the next trend wave. The warning signs were there, a combination of divergence, volume, wave count and Fibonacci

We just needed price action confirmation and this started with the bearish engulfing candle at the high. The next few days neatly set up the sell level as the Colour Charts confirmed. Then, tumble, it did.....

Where we are now is in the happy position of sitting on a very healthy profit. However, there are now warning signs of a possible rally that could evaporate those profits.

The prudent trader will be converting most of those paper profits into real ones, leaving just a small part of the trade on for the gamble of an even bigger move.

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