Trading news

Nasdaq 100 – prognosis via Dow Theory for calendar week 39/2015

Weekly chart:

The Nasdaq 100 has broken its uptrend, but has not, however, developed any real new downtrend yet. For this, there were too many buyers at the 20 location point line from the monthly chart. On the upper side, however, the price failed at the 20 LP from the daily chart. The situation is not clear in this trend size.

Chart1

Daily chart:

In the daily chart, there is a valid downtrend that is currently located within the correction zone. This runs between 4496 points and 4628 points. Apparently the index is gravitating towards running into the next downwards movement.

Chart2

Hourly chart:

The current small correction has lead to an emerging uptrend in the hourly chart. Admittedly, though, this trend is running against the primary trend, which is why I would favor the sidelines here for the time being.

Chart3

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Markus Gabel

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AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Wednesday, 23 Sep, 2015 / 3:49

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