Sunday, December 9, 2007

NASDAQ 100 chart

Follow Me on Facebook Follow Me on Tweeter


As I expected the market continued it’s up-trend. By taking a look at my indicators I may assume that we may face the increased odds of the correction within the mid-term up-trend.

The NASDAQ 100, S&P 500 and DJI indicators are still strongly points to the continuations of the mid-term uptrend. VIX volatility drops, volume activity drops, 1-year technical studies are bullish.

On the other hand if we look deeper into lover timeframes (30-day and 15-day charts) we may see an increased possibility of the moved down. Those charts do not show changes in the mid-term trend, but may indicate the possible correctional move. The healthy up-trend requires small correction time on time and in this case the up-trend can run longer and higher. Without correctional moves the uptrend could become exhausted very fast.

At this point of time, we may see some oversold 15-days levels that potentially may lead to the correction. Below you may see the NASDAQ 100 chart. The S&P 500 and DJI indicators look similar and little bit more bearish then the NASDAQ 100. Even if we see the correction down, I would not expect it to be deep.



No comments: