4 replies to this topic

[relax]

F7 most probably is not going down on Monday - is that a buy signal when the fractal pattern does not work? Or has F7 just been delayed to next week? any thoughts on it I remember Bernanke some time ago saying that an uenemployment rate of 4,4 is a risk to inflation so with today's "good" data, even more focus (if that is possible) is going to come on inflation data PPI will be released on friday, CPI the following week a rate cut is right now completely off the table, but a higher than expected figure on friday is really going to kill the rate cut "dream" so maybe F7 or some other big drop is set for friday or the week starting april 16 april 17 is a supermoon and astrology has predicted april 14-21 should be a tough week

[Russ]

You can't trade based on all of this kind of information. Must look at the technicals, internals etc.

[relax]

Where do you see Nasdaq Composite going next week?

Fib resistance 78,6 pct at 2.488 and we've also got resistance there in the form of the gap which was created in connection with the big drop in february

You can't trade based on all of this kind of information. Must look at the technicals, internals etc.

[Russ]

The futures just closed the gap after the employment report. Next week should see the regular hours market have some kind of follow through rally, it looks like it wants to go up and close the gap. PPO (Volume Oscillator) is showing negative strength though just as it did in late feb, however its oscillator has an uptrend which means it could turn positive down the road abit but that is just on the daily, the weekly looks much worse.

The bullish argument as presented in graphs by 'Trend-Signals' http://www.traders-t...showtopic=68694 is that spx/dow are breaking out of multi-years channels to the upside. Compq does not look the same though, it looks to be at the top of a multi-year channel.

'Airedale' uses cycles and is projecting the old highs to be challenged next week looking at his chart. http://www.traders-t...mp;#entry281198

Martin Armstrong's 8.6 panic cycle should have seen 10-20% decline historically, so if we only get 5% market will be making history. Even Don Wolanchuk (da_cheif) has noted that the dow has a gap way down there in mid march and so does the vix. That likely needs to be tested. Bottom line - some more rally possible and then some consolidation or even testing of the march lows is possible. Trading non trending markets is the hardest, until a new uptrend is established - resuming last summers rally things can be choppy.

http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=6&dy=0&i=p21531838474&r=4710.png

Where do you see Nasdaq Composite going next week?

Fib resistance 78,6 pct at 2.488 and we've also got resistance there in the form of the gap which was created in connection with the big drop in february

You can't trade based on all of this kind of information. Must look at the technicals, internals etc.

[Russ]

Above should state PVO not PPO