Nasdaq Comp - After the bounce

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The 28 day sideways up move I forecast off the low of 1/23 is ending. Today's reversal on the surface looks bullish, except... on stronger volume the Nasdaq was able to make a new low, but not a new high. I expect a bearish reversal starting tomorrow off a possible gap up... then a test of the last day of volume low of 2/7 of 2252, and completion of the retest of the 1/3/01 2251 low. We'll either bounce there or continue lower and test the 1/23/08 low of 2202 with a probable bounce at the 2191 pivot.

Edited by SemiBizz, 20 February 2008 - 10:13 PM.

So dcengr's fractal is still in play? How many days in this down cycle?

Looking at the low to come in around 3/13 - 3/14 Gann turn timeframe... I dunno about DC's fractal... not following it. There was an additional bearish indication today on the 30 min. which mirrored the daily, in the last hour on much stronger volume in the last 30 min. we were unable to break the previous candle high (day's high). Overall the last 2 days action can be characterized as distributive.

Edited by SemiBizz, 20 February 2008 - 10:50 PM.

3-4 days?

So dcengr's fractal is still in play? How many days in this down cycle?

and completion of the retest of the 1/3/01 2251 low.

doesn't there need to be higher vol for completion?

and completion of the retest of the 1/3/01 2251 low.

doesn't there need to be higher vol for completion?

This is just a retest on the way to testing the 2203 low, that one already broke the volume of the 1/3/01 low. Have to look at all these high volume highs and lows as "waypoints" that get tested and retested.

Nasdaq 1/23 Dominant Candle

In order for Nasdaq to PROVE it can go lower.. all it needs to do is break 2320 and close there.

Posted Tuesday 2/19

One more equities spike tomorrow as commodities, oil and gold pull back tomorrow, then another spike in the commodity complex late in the day or early Thursday, Equities will lead the way down Thursday with commodities following late in the week/early next week... all of them will go down into mid-March timeframe.

In case you didn't notice, this is exactly the reverse of what happened on the last full moon as we plummeted in Europe over MLK 3 day weekend holiday. Considering the HUGE futures spike going into today, I was surprised the Feds didn't pull a surprise rate hike...

There's still time to short this pig, don't let the market makers get you in too early, it's a no-brainer that the commodity hype will subside and the equities will spike one more time. Once we get things working in concert with all these things going down in HARMONY, that's when you want to be short....

This rally today was a total joke and nothing but the operators taking advantage of the sheeple over the 3 day jamming window...

We have a little bounce here back to the distribution point... (last volume high on 3 min.) (44.04 QQQQ) . What we get there is a Realtime Sentiment feedback. Are those sellers still interested at that price or just how big is their well er uh... apparatus?.

Edited by SemiBizz, 21 February 2008 - 11:36 AM.

See what it is here is 2320, if they suck it down into that candle that kicks the door wide open...

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2320, the high of the last extreme volume candle on the daily.... Right now they want to see if you will BUY THE MYSTERY... like will it hold above that 2320.

Edited by SemiBizz, 21 February 2008 - 11:42 AM.