The Nasdaq Composite (COMPQ) moved to a new high in 2009. Volume backed off some from yesterday, but was respectable versus other days in late June and July. Price is now 50% above early January with respect to the range of the January to March decline.
The weekly chart shows price bounced off the 1×1 of the 2007-2009 range. If you look closely you can see the 200 day moving average (40 week) has turned back up. This is a good long term sign. The 10 week (50 day) moving average is following the 1×1 angle upwards.
Charts courtesy of Stockcharts.com
Looks like it is seeking point break at around 2150.
Andy, Can you have chat/comment boards on right so that we don’t have to dig up old posts to to continue any discussion or general market comments. You can call one Andy-Ray-Libby market comments
Ray – Do you want a comment stream that is not tied to a specific post? That sounds like a good idea. But I do not know how. I will research this. I have the same problem at other blogs. On the Unbiased Trading blog I posted a comment a few weeks ago and I still cannot find that post. So I understand the problem
Andy
When you get a chance can you look at DRYS.
Thanks
Robert – are you looking long or short on DRYS? At the current price it is easy to get a double on the long side if traded correctly. I can’t help much with short term trading. But I cannot find a time frame where the chart is bullish in the intermediate to long term.
Long. I am underwater and was looking short term. Not sure if I read the chart correctly and should just get out.
Where I can start my career in forex?