Friday, October 23, 2009

Title: Is the NASDAQ Now in Thin Air?

"Of the three major indexes we track: DOW, NASDAQ and the S&P 500, only the NASDAQ is in thin air.

What do I mean by thin air? So far the NASDAQ is the only index to make it past the 50% Fibonacci retracement levels as measured from the highs seen in 2007 and the lows that were made in March of this year.

Both the Dow and the S&P 500 have rallied strongly from their March lows but have not made it over the 50% retracement level."

Here is a great analysis video about NASDAQ compare with the rest of the index! Great video! ENJOY everyone.


Ben said...

Hope all is well! I had hip surgery last week so i've been out of commission mostly since. Hope you all were making good $ last week.

What do u think about a possible short in the stock VOCS? There chart looks pretty bearish to me, but each of the last 3 days it found support at almost the exact same level and closed off the lows. Would you consider this a reversal sign to NOT short the stock, would you take a chance to short in now, wait til it penetrated that low and then short, or do you just not see any setup here at all worth taking?



Tradermarket247 said...

Use the 50day MA as your entry/exit. Short if it broke below 50day MA and set stop above 50day MA. Also pay attention to volume.

Tradermarket247 said...

oopss sorry i was so focus on the chart! Forgot to tell you "GET WELL SOON" lol my bad

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