Nasdaq Composite chart

Nasdaq Composite chart

The nasdaq composite chart and 5  10  20 timer has the market as a mess right now. The bulls and the bears continue to tussle it out. As you can see above these lines is BULLISH and below is bearish. Right now they are stuck in the middle and it is a time where no one is in control. In fact no one has been in control for a few weeks now. Eventually this will have to end, but for now the bantering continues.

Looking back, all the way to MAY as this chart shows, we have seen a strong steady climb upwards, and its safe to say we are still in a BULL market.  But in saying that there is still no clear buy signal here, but again at the same time while there are many people out there calling for a top, we are still hammering the fact that this is NOT a time to fall in love with the downside.

nasdaq composite chart

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When Fear and PANIC Say BUY

A few days ago, we warned that the smart money was buying up the market, even though there was major panic in WASHINGTON, and even though the US was on the verge of default!

YOU CAN VIEW THE POST HERE =>  BIG BOYS BUY UP BIG!

What I can tell you is that the market has skidded up higher since then, and not only did the US NOT DEFAULT the government shut down looks to being solved also.

There is a saying in the market that sometimes FEAR gets so much, and so intesnse it actually creates a nice buying opportunity. This was a classic example.

Where are we at now? That that is an interesting question....the buying got so fierce in the last few days, the NASDAQ is now at YEARLY HIGHS.....

We have been warning our readers not to fall in love with the downside all this year, and now you can see why. People shorting this market are not only losing money but be frustrated to the max.

Have a look at the chart below.

Nasdaq daily chart

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spx versus nasdaq

spx versus nasdaq

When we take a look at the S&P chart compared to the NASDAQ (leader of the market) chart, we can definatly tell there are some differences.

S&P - This has broken a MAJOR uptrend line.

NASDAQ - We have been travelling up in nice upwards channel and so far it seems this has not been breached. That is bullish in my eye, however there are a few headwinds infront of us with the debt ceiling and economical issues. But as my readers know, charts are already first, news is only for those that want to wake up in the market and need to have a laugh in the MORNING!

For now the NASDAQ seems to be sticking out at me, as technically it looks very nice, and has been in a steady as she goes approach.

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nasdaq daily volume - nasdaq daily chart and daily volume warning

nasdaq daily volume - nasdaq daily volume and what it means

The nasdaq daily volume on FRIDAY was higher than average. I have not seen this happen in opex for quite a while, and is very interesting.

As you can see nasdaq daily volume on friday was alot higher than its normal average volume, and it probably means the smart money was looking more to sell rather than buy.

Considering the nasdaq daily volume and also it is hard to update lately as the market has hardly been doing much at all. Is this just the calm before the storm. Well....time will tell. :-)

nasdaq daily volume 

nasdaq daily volume

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strength of us dollar - the strength of us dollar is telling

strength of us dollar - the strength of us dollar is telling

Looking at the chart below, the strength of us dollar not only important,  the strength of us dollar is very telling.

As you can see at the top of the chart, the NASDAQ has really not done much the last few months. It has merely been trapped in a range. The nasdaq hit the top resistance line and now seems to be retreating a bit, however it has not really picked a direction.

The USD chart below has gone from strength to strength!, as it continue to stay within its upwards channel and put pressure on the leader of the market. It seems that money is coming out of stocks and equities and starting to go into the USD and other assets as we have explained recently. Will this continue?

strength of us dollar 

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nasdaq chart - The troubling nasdaq chart

nasdaq chart - The troubling nasdaq chart

A troubling nasdaq chart really? We you must realize that the nasdaq chart is the leader of the market. While the other indicies are hitting major highs, and dow jones record highs, the nasdaq was lagging.

Also while other indicies closed green, the nasdaq closed red today, and it sitting back up in very SIGNIFICANT resistance. We have hit this line now several time, and it seems like very strong resistance.

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nasdaq daily chart

As with the previous post => FISCAL CLIFF PANIC we stated that the last few days have been classic holiday reversals, and EXTREMELY LOW volume

Have a look at the nasdaq daily chart.

As you can see we have sold off since the start of the holidays. We sold off on very thin volume, meaning right now the smart money is gone from the market.

Also the stochastics are confirming that we are now very oversold on the market and a bounce is due soon.

It seems we are still in holiday reversal time period and with the fiscal cliff talks that is also putting added pressure on the markets. The breadth and other market indicators are skeptical that these moves will hold for long, and there is a considerable sized bounce coming very soon.

Charts are just saying this is a dip before a larger move higher. If you are a bear, do not fall in love with the downside, doing that in holiday reveral time periods can sometimes be very dangerous.

Enjoy you weekend and we will come back next week and monitor things closely.


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