Comments on: A Quick View of the NASDAQ http://blog.afraidtotrade.com/a-quick-view-of-the-nasdaq/ Helping traders overcome fears and emotions in trading Wed, 08 Feb 2012 09:26:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Richard http://blog.afraidtotrade.com/a-quick-view-of-the-nasdaq/comment-page-1/#comment-131683 Richard Wed, 27 Aug 2008 07:32:04 +0000 http://blog.afraidtotrade.com/?p=2846#comment-131683 Corey, I like you description of trapped for the bearish doji below moving average. The daily chart shows a nasty bearish cross over in the MACD. Look at the falling volume on the daily chart and almost non existant on the weekly chart. The Nasdaq, QQQQ, is poised at the apex of a broadening top pattern going back to late April; note how there is nothing but thin air between its current 46.43 and 45.00 and 43.50 .... QQQQ Apple, AAPL, shows much the same fall potential .... AAPL Ditto for Research in Motion, RIMM .... RIMM And the trading service and software company Recognia is relating that Research In Motion Ltd has fromed a bearish "Symmetrical Continuation Triangle" chart pattern which indicates that the stock price may fall from the close of $127.03 to the range of $103.00. Google is on the verge of further breakdown at $474 ... GOOG And notice in the weekly chart how the price hit resistance and dropped. FX Street reports at 5:33 that the USD/JPY has fallen below its pivot of 109.54 to trade at 109.01; this is bearish for the US Stock market; and is bullish for oil and gold. And ... yes and.... the Euro carry trade has severly unwound to an oversold position. I envision the Euro, FXE, to rise; as well as the other commodity currencies, FXA, FXS, and FXC, from their oversold condition. A correction in the Euro carry trade, which some call the yen carry trade, will call the US Dollar and stock markets lower ... Stockcharts.com shows the EUR/JPY, FXE:FXY, fell lower to 1.615; this is definitely oversold. Well, the fuze has been lit, all we need now is a little gust of bad wind from the financial sector to speed things along and make for an explosive fall lower. The investment application is to go long the Proshares QID and to invest in gold at BullionVault.com and GoldMoney. Corey, thanks for the good job you do here on this blog. Corey, I like you description of trapped for the bearish doji below moving average. The daily chart shows a nasty bearish cross over in the MACD. Look at the falling volume on the daily chart and almost non existant on the weekly chart.

The Nasdaq, QQQQ, is poised at the apex of a broadening top pattern going back to late April; note how there is nothing but thin air between its current 46.43 and 45.00 and 43.50 …. QQQQ

Apple, AAPL, shows much the same fall potential …. AAPL

Ditto for Research in Motion, RIMM …. RIMM

And the trading service and software company Recognia is relating that Research In Motion Ltd has fromed a bearish “Symmetrical Continuation Triangle” chart pattern which indicates that the stock price may fall from the close of $127.03 to the range of $103.00.

Google is on the verge of further breakdown at $474 … GOOG

And notice in the weekly chart how the price hit resistance and dropped.

FX Street reports at 5:33 that the USD/JPY has fallen below its pivot of 109.54 to trade at 109.01; this is bearish for the US Stock market; and is bullish for oil and gold.

And … yes and…. the Euro carry trade has severly unwound to an oversold position. I envision the Euro, FXE, to rise; as well as the other commodity currencies, FXA, FXS, and FXC, from their oversold condition. A correction in the Euro carry trade, which some call the yen carry trade, will call the US Dollar and stock markets lower … Stockcharts.com shows the EUR/JPY, FXE:FXY, fell lower to 1.615; this is definitely oversold.

Well, the fuze has been lit, all we need now is a little gust of bad wind from the financial sector to speed things along and make for an explosive fall lower.

The investment application is to go long the Proshares QID and to invest in gold at BullionVault.com and GoldMoney.

Corey, thanks for the good job you do here on this blog.

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