• 1 hour Dead Malls Could Be Amazon’s Next Target
  • 5 hours Unpacking Biden's Energy Plan
  • 9 hours Russia Aims To Become World's Top Gold Producer
  • 1 day Global Tech Stocks On Edge Over Trump TikTok Ban
  • 1 day Cobalt Squeeze Threatens The Electric Vehicle Boom
  • 2 days COVID Has Sparked A Surge In Cybercrime
  • 2 days Precious Metals Bulls Still Have Plenty Of Room To Run
  • 3 days The U.S. Has The Tech To Go Green, But Will It Use It?
  • 3 days Massive Losses Force Russian Commodities Giant To Slash Dividends
  • 4 days Markets Up On Stimulus Hope
  • 4 days UK To Invest In Europe's First Geothermal Lithium Recovery Plant
  • 5 days TikTok Takes Center Stage In US-China Tech War
  • 5 days Are Semiconductor Stocks Overvalued?
  • 6 days Jobs Report Doesn’t Say Much Amid COVID Uncertainty
  • 6 days Crypto FOMO Heats Up As Bitcoin Climbs Above $11,000
  • 7 days Aluminum Is Bouncing Back In China
  • 7 days The Deep-Sea Mining Debate
  • 8 days Markets Trending Down Despite Tech Blow-Out
  • 8 days Big Oil Battered On Dismal Earnings
  • 9 days Russian Billionaire Bails On Mid-Sized Gold Miner
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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