Taking a look at the nasdaq chart on the weekly timeframe we can see that for the last few weeks, things are getting tired. The nasdaq rallied up to the previous highs in September 2012 and had trouble to get above those levels. Now the nasdaq seems to be sinking a bit.
The below indicators seems to be suggesting, there is certain headwinds that are possibly coming for the markets. The stochastics are turning and are almost on a sell signal. So it seems the market right now has lost its spark, and we are getting a few warning shots 'across the bow' so to speak.
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| Nasdaq weekly chart |
The USD dollar chart (or the inverse trade UUP) broke out of a falling resistance line in FEB 2013, and since then has been on a steady climb upwards. This significant strength, could be another warning sign.
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| USD chart |
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The dollar is going to over 23. The market is going to 1250.
ReplyDeleteDollar suckered a lot off peopled into thinking it was going lower. Many analyst missed the top in the Euro in Feb which foretold the dollar strength.
dollar (uup) at 23, yes, very possible. The next few months are going to be very intersting. Summation is key.
ReplyDelete