• 9 hours Gold Is Still A Safe Haven, But Not Very Alluring
  • 17 hours What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 1 day COVID Report Cards Will Brand Businesses Forever
  • 2 days Trump Tweet Sends Oil Soaring 25%
  • 2 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 3 days Is A Global Currency Necessary?
  • 3 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 4 days Trump Wants Another $2 Trillion Economic Intervention
  • 4 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 5 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 5 days Oil Falls To $20 For First Time In Nearly Two Decades
  • 5 days COVID-19 Could Be The End Of U.S. Coal
  • 5 days How Much Does Your Social Security Number Cost? $4 On The Dark Web
  • 7 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 7 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 8 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 8 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 9 days U.S. Auto Sales Fall By 75%
  • 9 days Violating Quarantine? Big Brother Is Watching
  • 10 days Does Gold Still Have Some Room To Run?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Joseph VanDerveer

Joseph VanDerveer

Joseph VanDerveer is the Chief Technical Analyst with 8 years experience in the trenches trading the markets with a brand new website and service

Contact Author

  1. Home
  2. Markets
  3. Other

Weekly NDX Chart

Here is a basic chart of Nasdaq-100 ticket symbol NDX showing a few different techniques used. This shows about 5% of what I use in determining my decisions trading the market.

First you may notice the down channel trendlines with 2 consolidation periods. We are currently breaking out of the second one.

Breaking out from a large ascending wedge, and consolidation channel shown on the chart. Looks very similar to the last one. Take notice of the violated trendline on the wedge with a backtest in both.

Next I show a lower weekly close on the cycle low and lower weekly close on the cycle high. This has a bearish look so far in the Comp. Other indexes have broke out to the upside. Some may interpret this as intermarket bearish divergence.

At the bottom of the chart you can see the macd indicator suggesting lower prices. It just gave a signal crossover AND a potential centerline or zero line crossover.

Last I want to take a look at is the rsi 5 oscillator on the bottom of the chart. It is currently starting to enter into oversold territory.

I have had particular dates for a potential crash cycle for months. All my current subscribers and associates were aware of these dates. The move on Friday was absolutely no surprise to me but is it over?

NASDAQ Weekly Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment