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Nasdaq 100 – prognosis via Dow Theory for calendar week 35/2015

Weekly chart:

For the time being, the Nasdaq 100 has lost the battle and has broken the uptrend with a closing price below the red correction zone. If the price can pick up again this week at the 20 LP from the monthly chart, this may give rise to hope once more. Until then, the index is trendless in this trend size.

Chart1

Daily chart:

In this trend size, the upwards trend has also been broken, namely at 4332 points, and a new downtrend has been established. Here, the last correction zone is located between 4431 and 4573 points. However, the road ahead is not guaranteed to be easy. The threat of the index slipping even further down is ever-present.

Chart2

Hourly chart:

In the hourly chart, we currently have no valid trend, which significantly intensifies the danger of the overall situation. I, for one, will position myself on the sidelines for now, in order to observe the further action. As soon as a valid trend develops, I will reevaluate the situation.

Chart3

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All the best,

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Wednesday, 26 Aug, 2015 / 1:52

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