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Nasdaq-100

Nasdaq 100 Index: NAS100 Next Buy and Sell PointsNadaq 100 Index: NAS100 Next Buy and Sell Points The last 3 declines on Nasadq were 339, 357 and 345 points. This one is now 354 points, so far - par for the course. Nasdaq is now flipping within the boundaries of the two fixed lines of support at 6696 (spiking below here by 20 points to 6676) and resistance at 6786 (spiking above here by 19 points to 6807). It's therefore near term neutral whilst within this range. It has to fall below 6670 to trigger a short back to 6614. This level must hold up throughout this week. Any failure here will trigger a second short back to 6371 minimum and more likely to the 6231-6192 range. On the upside a move and hold above 6810 is needed to trigger a long to 6876-6890 where will look to close out if touched and then maybe reverse short with stops above 6910. So far this is a short, fast decline which matches the size of the last 3 - but the shape of this one doesn't suggest continuation as the others did. It's too sharp, suggesting it may well have further downside to run. Breaking lower to 6614 will become the biggest decline for 2 years - and signal that once broken the Nasdaq will test 6371 before it becomes a buy again from here.
FX:NAS100
by sumastardon
Nasdaq 100: NAS100 Last resistance below 6550 NASDAQ 100 Index NAS100 One impulse wave travelling inside a second larger wave. The smaller wave begins with the end of seasonal summer doldrums towards the end of September, with two strong sections (or smaller waves) of 300 -340 points each with a third wave now in play from 6250 - and a fourth likely after that, before the thrust and power of this wave is spent. However in the very near term this index is pushing up against the upper parallel of the larger medium term wave, so if it's going to encounter resistance at any point between the upper fastest-rising parallel and the slower rising medium term parallel it's touching now, it's going to be here. At worst it will knock Nasdaq back to 6374-6371 where it becomes a buy again with stops under 6395. And if Nasdaq remains strong in the face this overhead resistance and can find the buyers to beat that resistance line, touching it now at 6410, it will likely power much higher still, rallying hard to touch the upper parallel (rising at the extraordinary speed of 260 points per month) at about 6550 -- 6600 in a couple of weeks' time. Would be more 'normal' for it to come off a little prior to Christmas rally kicking in come December. But if it does it should only come back to 6374--1 so look to buy on weakness with stops below 6395. Alternatively a move through the line at 6410 now followed by a successful near term retest can be followed for a test of the uppermost parallel at 6550ish (depending on when struck. Each encounter with the fastest rising parallel has triggered a period of consolidation/profit taking. Longs should follow suit on the next encounter, too.
FX:NAS100Long
by sumastardon
1
NAS100: NASDAQ 100 Looking positive for week aheadNasdaq 100 Index NAS100 Nasdaq throws a lot of similar shapes to Bitcoin whose consolidation periods tend to last a few hours and no longer than 2 days maximum, but here the continuation patterns last a minimum of 2 days (last one) and more usually 8 days and up to a month. But the shapes are almost identical. Fast, sharp declines over 2 days, followed by an immediate rally into new high ground are a sign of a very strong market, usually a confirmation signal of further strength ahead. In addition, the pattern carved out on the chart over the past week is a clear flag formation with a minimum upside measurement target at 6472, and could easily extend further to 6515. Look to get long for the early part of this week at least: Initial support begins at the recent high at 6282-0. Whilst it can hold up here this index is extremely positive...so long as this level holds tomorrow Nasdaq is expected to have a stellar week ahead. It's a buy with stops under 6275 for a 20 point loss if wrong. Or wait for the open on Monday to see that 6275 holds up first...but it may have gapped up by then. If so follow it, though with stops still below 6275. And if this trade goes wrong and 6275 fails to hold at any point between now and the open it's likely to drift further and then perhaps come off on the open to 6246 (at lowest a spike to the upper parallel just below here) before rallying strongly again. That looks to be worst case scenario, which looks less likely than a gap up as things stand right now. One other way to enter the trade is to put a buy order in at 6283 and hope it gets struck overnight with a tight stop 11-15 points under for small loss if wrong but 200 to 300 - points upside if right. If it gets stopped out look to re- enter again around the open on any further weakness in the first 5 to 30 minutes, ideally towards 6246 and a tad lower - but this is only likely if 6282-6275 gives way. Don't think it will for what it's worth...let's see For more on Positive 16 Year Cycle: Dow-and-S-P-500-DOWI-SPX500-Super-long-term-Chart-and- analysis/
FX:NAS100Long
by sumastardon
Nasdaq 100 Index still positive whilst within the parallels Nasdaq 100 index is still very positive whilst within the parallels that govern the current impulse wave. If there's going to be a problem it lies 1% higher from here, as the Nasdaq Composite index reaches 6150. The composite index will need to break through it's restraining long term resistance line at this level for the Nasdaq 100's rally to remain unimpeded in the nearer term. Suggest going flat again as these levels are tested on the Composite index just in case this powerful line of resistance stops the rally dead in its racks for a while. And then if this line is broken on the upside we have powerful confirmation that this rally is close to unstoppable (for now at least) and we go long again. That way we trap in almost all profits on this trade, whichever way it turns when we reach 6150 on Composite.
FX:NAS100Long
by sumastardon