Trading news

Nasdaq 100 – prognosis via Dow Theory

Weekly chart:

In the big picture we can see a valid uptrend with a high at 4729 points. From there, the price went back almost to the beginning of the green correction zone. A new movement was aborted shortly before the last high and the index fell sharply back down. Not until the week of Christmas did it seem as if a new movement would begin.


Daily chart:

In this trend size, too, the last high is also at 4729 points. However, here we do not have a valid trend. For this, a new high point is required, and until this happens, a trade is not worth it here.


Hourly chart:

The rise this week led to a new uptrend, which is currently in a correction. As long as it does not exit downwards out of the correction zone, then at the start of the coming trading week we can assume that this trend will continue.


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All the best

Markus Gabel

Sales partner / AgenaTrader / TradeEscort

AgenaTrader Trading Software

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Sunday, 27 Dec, 2015 / 1:59

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