Tag Archives: ndx

Nasdaq 100: Potential Bull Flag

By Biiwii

[edit] Got any other bright ideas?

Is it me or is the Nasdaq 100 building an orderly little bull flag that could theoretically launch the final stage of its bounce along with the market?  Short-term traders only, should take note.  The market remains in a bearish intermediate trend.

nasdaq 100 (NDX) daily chart

Biotech Sector Leadership Merely Back on Bull Trend

By Biiwii

I was going through my chart lists and stumbled upon this monthly chart of the BTK-NDX ratio that was created many months ago to show the secular bull market in Biotech sector leadership (over large, varied tech), which at the time had gotten too far above its monthly EMA 30.

The orange box was created at that time and despite all the hoopla going on now, wouldn’t you know that BTK-NDX has simply reset to its 20 month moving average (mid-Bollinger Band)?  Let’s hear it for Hillary’s tweet!  Maybe she saw this chart and decided to help it along.

biotech sector vs. nasdaq 100

NFTRH; US Market Bounce Progress

DOW has reached initial resistance with bounce target #1 about 100 points higher.

Continue reading NFTRH; US Market Bounce Progress

NFTRH+; QQQ Bear Setup Parameters

Today may or may not be the bounce that was expected off of the bearish developments last week.  If so, or in the event such a bounce materializes this week I wanted to put some parameters down on the QQQ.

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NFTRH; Multi-Market Update

Well, here came the short covering rally in the precious metals.  By calling it that I don’t mean that it cannot turn into something more, but today was most assuredly driven by short covering as the US dollar unwound some of its speculative sponsorship.  One can assume that large speculators took it on the chin on both ends, in the USD and in gold/silver as the Commercial traders had been aligned increasingly bearish and bullish, respectively.

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NFTRH; INDU, SPX & NDX Updated

Updating the charts we have used to gauge October’s little bearish ripple and projected bounce back.

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NFTRH; INDU, SPX & NDX Status

A brief update on the headline US markets, namely the Dow, S&P 500 and Nasdaq 100.

Beginning with the latter, we note that Mark Hulbert’s Nasdaq newsletter writer sentiment data shows a very bearish sentiment profile, which is contrarian bullish.

Continue reading NFTRH; INDU, SPX & NDX Status

NFTRH; Multi Market Update

Gold stocks are down again today and it is now decision time (for the sector if not individuals).  That is because the parameter is to not make and hold a new low to the May low on a closing basis.  We noted that a bounce is possible and if it is going to happen it should happen around here, at the May low with a similar over sold RSI.  Either that or it would be broken with a lower low (that does not reverse quickly).

Continue reading NFTRH; Multi Market Update