NASDAQ100 Daily Climbs 11 Points

NASDAQ100 Daily -

The NASDAQ100 was up over 11 points today on lower volume.  The MACD has clearly turned over – bearish.  We are in earnings season now – many of the majors will be reporting this week – ebay reported this evening and cut their outlook – their shares fell 3% in after hours.  We remain in wave 2 up of cycle wave c down. The 8MA is turning down too – bearish.   The US Dollar was up today – the Euro was down as was gold – again all in line with daily expectations.  Our general view remains the same – earnings season and outlooks will be weak and markets should fall hard – we will know by this time next week if this holds true.  A move down in the order of 30-40 points should indicate the end of this move up – we could see this occur this week.

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