das ist für mich heute entscheidend - ich persönlich rechne mit einem richtigen Satz nach oben
und das meint Ed zum Nassi
Updated 3/26 for Tuesday's market.
Key Nasdaq Levels for 3/27
UP Through 1,930
DN Through 1,900
Retracement and Higher Low
We pulled back today, and are now positioned for the big move up. However, watch for a failure at 1,900.
From yesterday's commentary,"My best guess is that we are going to see a retracement back to the 1,900 zone before the ultimate push through the top (if it is going to happen). So, we want to trade the range Monday - 1,900 to 1,950..."
Today worked out pretty much as expected, with a trading range established before the retracement back to the 1,900 range (1,910 to be exact). Now we have a loaded gun and are ready to see it fire to the upside. All we really have to do is guard that 1,900 level. If we push back through, we will need to get out of the way.
Short Term NASDAQ
In the Short Term, I would expect a push up, probably a gap. If that happens I would go with it and hold mental stops at the 1,900 level. If we push down, and drop through 1,910 I would go short for the probable rally failure that would then set up from that event.
Medium Term NASDAQ
We now have a very nice setup on the NASDAQ for a rally. How long could it last? Can't say. This is a volatile, skittish market. But, with a range established from 1,900 to 1,960 we have our parameters. I would accumulate Longs here IF you can watch the market, and would exit immediately on any strong push down through 1,900.
Summary:
Friday, we had indicated that"For Monday, we would expect another retracement (to continue to form the consolidation in the 15 Minute Chart)." We got that, so in theory we are ready to go. I would be a buyer here, but hold a hair trigger on an exit. If we push down through 1,900 you MUST get out of the way. We have seen this market fail three times on rallies before. True, it's beat way down, and some stocks are gaining 20% to 30% in minutes. But, this is how you get into a bull trap. Go with it, but be ready to cut and run. And, if we push down through 1,900 you should consider shorting those stocks which have gained the most - for the short term.
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Thanks for listening, and good luck in your trading!
Ed Downs
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