• 731 days Will The ECB Continue To Hike Rates?
  • 731 days Forbes: Aramco Remains Largest Company In The Middle East
  • 733 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,133 days Could Crypto Overtake Traditional Investment?
  • 1,138 days Americans Still Quitting Jobs At Record Pace
  • 1,139 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,143 days Is The Dollar Too Strong?
  • 1,143 days Big Tech Disappoints Investors on Earnings Calls
  • 1,144 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,145 days China Is Quietly Trying To Distance Itself From Russia
  • 1,146 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,150 days Crypto Investors Won Big In 2021
  • 1,150 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,151 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,153 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,153 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,157 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,158 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,158 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,160 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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…

  1. Home
  2. Markets
  3. Other

Short Opportunity

Nasdaq Weekly Chart with Fib. Spiral @ Week 34

Many traders are frustrated with the current market, sideways to slow melt up process.  I will reserve some info. for paid subscribers only.  Arguments can be made for the Bull's or Bear's but honestly the bottom line is to make money, period.  Money is all that matters, that IS the bottom line.

Below is a current chart of the Nasdaq Composite, using weekly candlesticks.  Note the breakout and upcoming backtest.

The chart shows a fib. spiral with arrows, a weekly doji with a close lower then the open, and higher high then previous week, lastly two trendlines making a triangle.  The top resistance trendline is now acting as support, this may become important.

I almost forgot to mention the Keltner Channels, clearly showing support at the mid-band, coinciding with the triangle support.

The potential dates have to be reserved for subs, along with price projections.  If you are long the market, this is a great place to tighten your stops. Website,  is currently offering  a free month for a limited time.

NASDAQ 2-Year Weekly Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment