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.]

Despite the fall from the open, buyers came in by hour two and put the breaks on.  By noon, down hours were met with up hours.  More upside likely tomorrow.

Click on chart to enlarge NASDAQ100 Hourly Buyers Pushing Up Hard – Expect Move Up 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.]

Big POMO day tomorrow – that’s when the Fed buys up everything that moves from 1015a to 1100a – effect usually wears off around 1230p – all eastern standard times.  The talk of the town is the Alibaba IPO this week – an excuse to mask the selling/market weakness by the MSM.

Click on chart to enlarge NASDAQ100 Daily Down Hard – As We Prepare For Another Bounce Up – That Won’t Last Long

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 Gets To Bull Channel Support – Look For Close Below Support Next Week

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.]

Lots of lower shadows over the last 10 days of trading.  There’s still buyers out there, but there impact is fading.  Technicals are mixed.  We should see a small move up on Monday, maybe on Tuesday too before the big move down occurs.  We closed below channel support again today – sign of market weakness.  Cycle brackets indicate a short move up before we roll.

Click on chart to enlarge NASDAQ100 Daily Falls To Near Support – Bounce Early Next Week Before The Big Fall

NASDAQ100 Weekly -

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

It appears that the Fed has finished its pet project – market tampering – merely because the balance sheet is so bloated, there isn’t much else left that Yellen can wreck.  We should see another, stronger down move next week.  We have been over bought for almost two years according to the MACD.  At some point this ends  and next week could be the start.

Click on chart to enlarge NASDAQ100 Weekly First Down Finish In Six Weeks – Volume Spikes To Confirm Downside
Page 1 of 18612345...Last →