NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge NASDAQ100 Hourly Falls Marginally – Technicals Show Down – Facebook Apple Results Won’t Let Market Fall – For Now

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

By now many have heard that Facebook and Apple far exceeded expectations (although Facebook’s CFO is leaving (he joined in Nov. 2012) and Apple unit shipments in Q1 were far less than those in Q4) which should drive markets way up tomorrow.  But there is little in the way of reporting misses.  Yet another fine example of why trading news is inconsistent at best.  Technicals are turning up which could take us to more all time highs (QQQ overnight currently up 1.1%), but it is very unlikely in NASDAQ100 case – the downside damage is already done. Central banks continue to buy up all that moves – we see this in recent up days on miserably low volumes.  Stay short or on the sidelines and keep your positions small.

Click on chart to enlarge NASDAQ100 Daily Pulls Back Almost 1% On Flat Volume – Technicals Turning Up Again

NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge NASDAQ100 Hourly Increments Higher – Technicals Rolling Over – Expect Downside Tomorrow

NASDAQ100 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Upside momentum is fading.  We expected to see a roll over last week.  A close below 3420 should drive markets much lower – NASDAQ100 is much further down the bear path that the other two indexes.

Click on chart to enlarge NASDAQ100 Daily Up For Fifth Straight Day – On Miserably Low Volume – Roll Over This Week

NASDAQ100 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge NASDAQ100 Hourly Shows Nothing But Vertical Ascent – Reversal Should Come Tomorrow
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