NASDAQ - "Save Me! Save Me!" *Not trading advice*

5 ott 2018

I don't follow the stock markets too heavily. But a recent online post made me want to make a prediction by looking at the Nasdaq chart.

**Not trading advice, especially with a market i have not traded in extensively**

We should at the very least see a re-test of our 200 day MA in the mid-term. Looking at the fractal from 2005-2007, this looks sort of similar.

We could experience a 1-3 year recession, retrace to around the 50 fibo extension, and then continue back up on an even more moderate slope.

I've noticed with bitcoin that often each consecutive wave of price increase follows a trend that is more mild (slope decreases, less steep of a line, etc) than the previous rally. That is where my next projection comes from.

Wish I had more time to actually draw what i'm seeing on this chart. But alas, I have better setups to analyze (crypto!)

Good luck!

5 ott 2018

Nota

I forgot to point out the bearish divergence between the OBV indicator and price. While price has been increasing, the OBV has more or less leveled out. This cannot be sustained according to my TA knowledge. Let's see what happens :)

6 ott 2018

Nota

Additionally, this is a technical and not a fundamental analysis. So price could theoretically consolidate and take another leg up. But what I am identifying here is a technical weakness.

To me, this means a high probability that at some point in the future, price will recede below the current point of weakness, until a stronger base is found. So naturally, the higher price pushes, the further down it will have to go until support, wherever that support may be (only the market and time will tell).

6 ott 2018

Nota

...wherever that support may be, is found*. God I hate typos XD

11 ott 2018

Nota

So far, we've seen a swift decline. Let's see if we can bounce off of the MA. If we break that (and close beneath it on high volume without a bullish engulfing), it is extremely bearish. However, we could certainly see a bounce here. Wait for the market to decide.

29 ott 2018

Nota

Bounce complete! Now let's see if we break the trend line and close below