SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Booms, Busts, and Recoveries
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tradermike_1999 who started this subject10/29/2000 7:13:35 PM
From: tradermike_1999  Read Replies (1) of 74559
 
This will be one of the most important weeks of the year for the Nasdaq. It is do or die. That is the simplest way to put it. Check out this chart

swingtradingonline.com

For the past two weeks since the first October bounce off 3,000 support the Nasdaq has been making wild volatile moves as bottom pickers buy the bottom and people lose faith and sell on the rallies. This volatility and indecision pattern will end this week when the Nasdaq either breaks out of the triangle that is visible on the chart I linked above or drops dead.

So - we have resistance at 3450 and support at 3000. Naz will either close above the resistance and signal a good chance of another seasonal rally going into the end of the year - a bear market rally that will give people a chance to get out at good prices. Probably see the Nasdaq make it to 3800-4000. Or else we will close below 3,000 and then everyone will know that the bull market is officially DEAD.

Anyone want to make a bet on which way the dice will fall?

When I look at a chart of Naz it looks like its bottomed to me. TRIN, VIX, and other technical indicators signal it too. But then go through the individual charts. Go through the Naz 100. The bionuts and Interduds, the semis, and telecoms. Everything still looks horrible. This market could go either way, lets hope it's up this week for the sake of the millions of investors caught up in this bubble.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News