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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	12/24/2006 11:24:31 PM
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2007 Nazdaq prediction crash [possibility anyway] stockcharts.com I have already posted the 2007 Dow prediction and I am comfortable with it from the standpoint of using technical analysis as a tool for predictions. So I have moved on to the nazdaq, and the fun begins and it starts getting tuffer. If the Dow is going to go down as I have suggested it would be logical to think the nazdaq is also going to follow. What I am showing on the chart is scarry stuff and I hope isnt the outcome. It is suggesting a crash in the works for 2007 testing 2002 lows. This is the bearish version to go along with the Dows chart that I posted earlier. It would appear that some market shaking news would have to cause this to happen so I hope that this prediction is incorrect and does not take place and that I am wrong on thinking it. But it is a possbility that I see. I think that the crowd is too bearish for this to occur as they continue to short every decline just to fuel every rally that comes afterward, this would have to discontinue for a crash to occur. Market breaking news may stop the rallys as shorters would likely discontinue to cover there short poisition in the face of market shaking news.

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