Nasdaq - "Surge" Day Tests On Lighter Volume...

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



Nasdaq gets under the volume support low of 2405 on the daily and the 2411 on the hourly on lighter volume springs back on strong volume and closes back inside the trading range. Volume Lows are tested, now Nasdaq will try and test the highs 2460 on daily, 2454 on hourly.



Looking for the quarter-end bogus commodity bubble-scam to start unbundling early next week (barring any more "US attacks Iran" stories), and money to flow into Nasdaq and another markup begins.... We'll see how far, there was no fist in the glove on this move down (volume).

Semi Nice analysis. Thanks for posting. Helps crystalize some thoughts. Best TM

Semi

Nice analysis. Thanks for posting.

Helps crystalize some thoughts.



Best

TM

Do tell us about those thoughts... thanks...

Semi, I am looking at the action of the McClellen Oscillators for NYSE and NASDAQ. Renctly (since last week) both NYSE and NASDAQ have tested overhead price resistance and been turned back. Yesterday, $NYMO and $NAMO both broke below 0 line and today snapped back toward 0. So we had MCO sell signals and today they headed back up to test 0. The respective MCOs might head back above 0 - good for bullish case, or they might head back down further below 0 - good for bears. So tomorrow is pivotal day. Could go either way. So need to watch direction of these indexes and breadth closely tomorrow. If price to upside and A/D strongly positive, I would line up with the bulls. If opposite, the bears. Secondly, are the generally strong market days at the end and beginning of each month (aka six days of strength). Usually, this is not the time to be short the market. Does not always work, consider end of Feb and beginning of March just a month ago. I think your observations make a compelling bullish case. The above, the context I was considering before seeing your post. Personally I sold out of shorts before the close today with nice gains and went flat. Tomorrow, I will go bull or bear depending on what the market gives us. Nothing in this business is 100%, but should the market show strengh, I think your observations would add confidence to the bullish side. Best TM

Another lucky call. Month end theme of commodity spike and tech selling is almost history... I guess we'll get to see if any funds have shares left to sell into this insane short-covering rally...