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Nasdaq - DeMystified.


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#1 SemiBizz

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Posted 15 February 2007 - 11:12 PM

http://bigcharts.mar...&mocktick=1.gif



If you've followed my posts here on TT, you know that other than missing this last low by 6 pts, my forecasts and turn projections have been on the mark. You can verify that information in my blog, link below. Now to me, we're in a sideways consolidation move. There are two possible outcomes - 2251 or 2618. We are in the middle of those numbers now, If you read far enough in my blog you'll understand how I derived those targets. Typically - February monthly candles are a pullback on lighter volume. If in fact February does end up higher on the monthly, we're set for a megatop in March, which would more than likely turn into a down month on volume. Really and truly, if you are bullish long term on Nasdaq, you do not want to see a new high on the monthly on light volume, because that could mark a I.T. top. I'm not looking for the End of the World here, I'm talking about a pullback/consolidation to test that important 2438 volume low before we either test 2394 (bullish spring setup on light volume) or move sideways into March.

Edited by SemiBizz, 15 February 2007 - 11:17 PM.

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#2 jmicou

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Posted 16 February 2007 - 12:41 AM

And just when the NDX is getting so close....
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#3 SemiBizz

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Posted 16 February 2007 - 10:14 AM

Added to QID position this morning up to 1/2 position will add another 1/2 position under 2475 NAS. Yesterday's Low broken on apparently stronger volume outlook for daily.
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#4 SemiBizz

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Posted 16 February 2007 - 10:54 AM

SETTING STOP PARAMETERS:

And I will be stopped out if Nasdaq can make a new high over yesterday. (Reversal from a lower low on volume into a higher high on volume).

If Nasdaq wants to make a new high in February and set up a bearish upthrust on the monthly I'm fine with that.
Unless Nasdaq can turn over 2.6B shares today we're in the second test level of a bearish upthrust that started in January on the weekly.

http://bigcharts.mar...&mocktick=1.gif

If the monthly wants to turn into a bearish upthrust, that really is FINE with me... because I know what will happen in March.

Edited by SemiBizz, 16 February 2007 - 11:03 AM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#5 SemiBizz

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Posted 16 February 2007 - 11:15 AM

The best case for the bulls here is to pull this market back on this light volume and test the monthly 2394 low on light volume THEN spring it !
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#6 KCScott

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Posted 16 February 2007 - 02:29 PM

The best case for the bulls here is to pull this market back on this light volume and test the monthly 2394 low on light volume THEN spring it !



Looks like a low volume test of the high coming to shake the Bears - 2495.23

Have a bid add to QID at 51 if it gets that low
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