Hi friends,
You know my general view about indices, I didn’t hide it for weeks now and you now that my main claim is that the higher we go the worse it gets as the market price is losing too fast the reality price…
One index I didn’t talk much about was Nasdaq
The reason for that is that it wasn’t clear in my eyes. But now, it’s screaming to me that it’s unbelievable TRAP!!!
On the chart below you can see that prices are riding the upper band of Bollinger and creating new highs while MACD slope that indicates on the volumes causing this rise is going DOWN!
That’s my friends, is a TRAP!
Here is the chart (Click on that):
In my view, it will take max few more weeks. Then, the target for the drop, as a beginning, will be the trend line I’ve marked.
Trade it as investment, and don’t take big risks even that it is TOO seducing 🙂
Yours,
Vladimir Ribakov
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Hi Gerardo,
JPY are different as they are intervention based, but nothing moves without cycles
:)
Good interesting comment as always
Thank you very much Atilla :)