NASDAQ coming to an end soon on high timeframes
Phoenix 1.119 (first indicator) is showing us a classic "turbo charge" form characterized by
1) the white energy (white grey shaded area) sliding down slowly one candle after another, while the price goes up one candle after another in general
2) the green line goes up and stays up with no signs of dropping down
A turbo charge almost always ends with a red dump candle that
i) brings the white energy to or below 50, while also
ii) bringing the green line to an uncharacteristic drop
TDI (second indicator) shows that the SMA line in the 12-month timeframe has its projected value of the current candle just above 80 and it's the first candle above 80. Based on past observations and experience, there is a good chance that the next candle is going to be a red dump candle that brings the SMA line back below 80, forming the appearance of a once candle close above 80.
The NASDAQ index is almost just scratching the upper Bollinger Band of standard deviation of 3.618 (the outermost purple line). From past experience, we know there is a good chance that the farthest extreme of a bull run is going to just touch Bollinger band of 3.618 SD. NASDAQ has almost if not already touched that line.
The 3.0 Fibonacci extension from the highest point in the dotcom bubble (2000) to the lowest point of its crash (2002) is at roughly 12700, and it is a reasonable destination point. We have almost reached that level.
These are among the many reasons that led me to believe that the 12-year US market run up to this point has to come to an end very soon, from a technical analysis perspective. I am putting this post as neutral, partly because I am not a strong proponent for shorting, at the farthest extreme of the buying frenzy in a years-long bull run no less. I do not encourage shorting a bull run, but I do believe this run has to come to an end very soon. I shall leave the strategy as neutral lest people falsely believe that there is now a good reason to short the current run. One must make a calculated, judicious decision in regard to trading, and I leave that decision to the retailers themselves. It's up to retailers' discretion to decide if it behooves them to place a trade in either direction in this current state of the market.
First indicator is Phoenix 1.119, from WyckoffMode. Second indicator is a private indicator not for public use. The 3rd and the 4th indicators are RSI and MACD respectively. The 5th and the 6th are both Trend Preconition (and its variants) from Mtrl_Scientist. Their respective owners are thanked for granting me the premission to use their private indicators.
1) the white energy (white grey shaded area) sliding down slowly one candle after another, while the price goes up one candle after another in general
2) the green line goes up and stays up with no signs of dropping down
A turbo charge almost always ends with a red dump candle that
i) brings the white energy to or below 50, while also
ii) bringing the green line to an uncharacteristic drop
TDI (second indicator) shows that the SMA line in the 12-month timeframe has its projected value of the current candle just above 80 and it's the first candle above 80. Based on past observations and experience, there is a good chance that the next candle is going to be a red dump candle that brings the SMA line back below 80, forming the appearance of a once candle close above 80.
The NASDAQ index is almost just scratching the upper Bollinger Band of standard deviation of 3.618 (the outermost purple line). From past experience, we know there is a good chance that the farthest extreme of a bull run is going to just touch Bollinger band of 3.618 SD. NASDAQ has almost if not already touched that line.
The 3.0 Fibonacci extension from the highest point in the dotcom bubble (2000) to the lowest point of its crash (2002) is at roughly 12700, and it is a reasonable destination point. We have almost reached that level.
These are among the many reasons that led me to believe that the 12-year US market run up to this point has to come to an end very soon, from a technical analysis perspective. I am putting this post as neutral, partly because I am not a strong proponent for shorting, at the farthest extreme of the buying frenzy in a years-long bull run no less. I do not encourage shorting a bull run, but I do believe this run has to come to an end very soon. I shall leave the strategy as neutral lest people falsely believe that there is now a good reason to short the current run. One must make a calculated, judicious decision in regard to trading, and I leave that decision to the retailers themselves. It's up to retailers' discretion to decide if it behooves them to place a trade in either direction in this current state of the market.
First indicator is Phoenix 1.119, from WyckoffMode. Second indicator is a private indicator not for public use. The 3rd and the 4th indicators are RSI and MACD respectively. The 5th and the 6th are both Trend Preconition (and its variants) from Mtrl_Scientist. Their respective owners are thanked for granting me the premission to use their private indicators.
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