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Nasdaq 100 – prognosis via Dow Theory

Weekly chart:

The uptrend in the Nasdaq 100 is still valid and was able to form a new high at 4729 points. The trend is still very young but is, however, coming to somewhat of a standstill this week. Nonetheless, the trend will remain intact as long as it does not exit downwards out of the green correction zone.

Chart1

Daily chart:

Once again, in this week, the index was unable to decisively set off upwards in this trend size and kept failing at the marker at 4729 points. This meant that a valid trend has still not been able to form, since for this we would need a closing price above the last high point. We still need patience, therefore.

Chart2

Hourly chart:

In the last analysis we talked about the fact that the short-term probabilities are rather more likely to be found on the lower side. And this was indeed the case this week, such that we now have a valid downtrend. This has corrected far and is showing a strong tendency towards continuing the trend downwards.

Chart3

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All the best

Markus Gabel

Sales partner / AgenaTrader / TradeEscort

AgenaTrader Trading Software

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Friday, 11 Dec, 2015 / 10:32

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