Nasdaqcompositepricetrendanalysis
Bulls are getting weaker and weaker..!In the past 5 days, they tried to raise the roof but they couldn't ..!
When Debit Balances in Customers' Securities Margin Accounts is at all-time highest, 882,103 Billion, as of 21 June..!
There are very limited interesting investing opportunities...
If you are looking at the major indexes in July, they all make the same patterns in the charts!
Now let's look at them in a longer timeframe!
All the charts are in a weekly timeframe!
TVC:IXIC
TVC:NDX
TVC:SPX
TVC:DJI
TVC:RUT
TVC:RUA
The most important thing is the different behavior of small caps in comparison to others. They started correction earlier than others..!
IXIC NASDAQ COMPOSITE INDEXNasdaq is being squeezed between uptrend channel (shown with green) and downtrend channel (shown with orange). It could be followed by red stop line.
After the break of the downtrend it could target first uptrend line and then cup target and then second uptrend line.
These are just notes for myself. This is not an investment advice.
NASDAQ COMPOSITE INDEX (IXIC) WeeklyDates in the future with the highest probability for price direction reversals
NASDAQ COMPOSITE INDEX, IXIC - GRAPHICAL UPDATEI AM EXPECTING THE ABOVE IN THE COMING WEEKS.
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