Volume continues to be weak on upside days. The Powershares QQQ Trust (QQQQ) should make a new short term high at the open tomorrow with the good earnings by Apple and others after the close.
Entries Tagged as 'Nasdaq Charts (IXIC)'
Weekend Outlook – 18Oct09
October 18th, 2009 3 Comments
I see everyone is excited about this great move back to “new highs” and ready to jump back in with both feet. Well, not everyone. Not you, of course. But everyone else. I put the recent market move into perspective.
Tags: Gann Square · Market Outlook · Nasdaq Charts (IXIC)
Reminiscing – 1938 Guesses That Were
October 16th, 2009 4 Comments
The 1938 DJIA drop from an intermediate high was 13% in nine weeks. The correction this summer was only 8% in four weeks. The DJIA moved up for 32 weeks following the correction. The current Nasdaq market has moved up 32 weeks from the March low.
Nasdaq Summation Index Pointing Down
October 15th, 2009 2 Comments
The Nasdaq Summation Index turned down at the beginning of October and the 10 day moving average remains below the 50dma. If fact, with price significantly above the May level, the NASI has not risen.
Tags: Advance-Decline · Nasdaq Charts (IXIC)
Weekend Outlook – 10Oct09
October 10th, 2009 No Comments
Volume was weak during the bounce over the last five days. I don’t see any buyers moving the market up as much as the lack of sellers are giving price no reason to drop.
Tags: Bonds · Nasdaq Charts (IXIC) · US Dollar (USD)
Nasdaq At The End of September
October 1st, 2009 No Comments
It looks like the funds held prices and their large three month gain (about 25%) up into the close yesterday. Volume was well above average so it took a lot of firepower to hold those gains for the quarterly report.
Tags: Nasdaq Charts (IXIC)
Current Nasdaq Versus DJIA in 1938
September 28th, 2009 6 Comments
The recent Nasdaq market compares to the 1938 market. The goal of the US government is to stop the depicted action from 1939-1942.
Weekend Outlook – 27Sep09
September 27th, 2009 2 Comments
The ValueLine Arithmetic Index (VLE) continues to show amazing strength as the rally moves beyond 200 calendar days from the March low. Price remains above the 2×1 angle of the 2007-2009 bear market and, in my opinion, should not be shorted.
Tags: Market Outlook · Nasdaq Charts (IXIC) · Value Line Arithmetic Index (VLE)
Three Time Frames of Nasdaq Composite
September 18th, 2009 No Comments
The long term look at the Nasdaq Composite has followed a clear geometry from 1982 until today. Price followed up the 1×1 ascending angle after the bear market which began in 2000.
Tags: Nasdaq Charts (IXIC)
Nasdaq Moving Toward Parallel Angle
September 16th, 2009 3 Comments
The price of the Nasdaq Composite dipped from the parallel angle trend line as the time cycle completed into September. Price looks like it is trying to get back to that angle and is not far from it as of today’s close.
Tags: Market Internals · Nasdaq Charts (IXIC)
Potential Short Term Upside Targets
September 10th, 2009 No Comments
The market breadth looks plenty strong in spite of the length of the move off the March low. The SP500 index (SPX) price closed at a 2009 high today although volume was not especially strong.
Tags: Nasdaq Charts (IXIC)
Weekend Outlook – 05Sep09
September 5th, 2009 No Comments
The Nasdaq Composite has bounced on low volume and does not look oversold which is required to take out major resistance above.
Tags: Market Outlook · Nasdaq Charts (IXIC)
ValueLine Arithmetic Index Remains Strong
September 1st, 2009 No Comments
As I have mentioned numerous times before, the ValueLine Arithmetic Index (VLE) is my favorite measure of the “market”.
Tags: Nasdaq Charts (IXIC) · Value Line Arithmetic Index (VLE)
Nasdaq At Support Angles
August 28th, 2009 No Comments
The Nasdaq is at a make or break angle which would signal the end of this bull market phase near 180 days from the March low.
Tags: Nasdaq Charts (IXIC)
Nasdaq Oversold At 1×1 Angle
August 19th, 2009 No Comments
The market is somewhat oversold and in position to move up. A move down to about 1870 is a possibility also.
Tags: Advance-Decline · Nasdaq Charts (IXIC)
Short Term Downside Target
August 17th, 2009 No Comments
The Nasdaq shows weakness this morning and where we close is more important than where we open. The first downside support should be at the June highs – 1850-1870ish.
Tags: Nasdaq Charts (IXIC)
Technology Indices Near Resistance from 1×1 Angle
August 11th, 2009 2 Comments
The charts for technology related indices are in a high risk position. The bounce which started last fall was a reflex reaction to a market crash. Whether the fundamentals support the move or not is immaterial.
Tags: Gann Angle Fan · Nasdaq Charts (IXIC)
Lack of Sellers While Moving Back To Support
August 10th, 2009 2 Comments
The quick early morning dropped did not inspire the sellers and price drifted back to close above the 50% level of the daily bar. My guess is that price will move back to the 20dma or the 1×1 angle and then have one more strong thrust higher into September.
Tags: Advance-Decline · Nasdaq Charts (IXIC)
Overbought Back to Support
August 5th, 2009 No Comments
The market had some distribution today just in time for a pullback to the recent breakout levels.
Tags: Distribution Day · Nasdaq Charts (IXIC) · New York Stock Exchange (NYSE)
Nasdaq Price Continues Higher
August 4th, 2009 No Comments
The Nasdaq Composite finished slightly up on average volume today. Price opened at the low and continued higher throughout the day – which is bullish. There has been no signs at all that the market is weakening.
Tags: Nasdaq Charts (IXIC)