Hewison Video Update and Projection for NASDAQ

Sep 2, 2009: 11:46 AM CST

Just in time to highlight a potential market inflection point, Adam Hewison released a six-minute video update on the past and current structure of the NASDAQ Index entitled “NASDAQ Trade Triangle Update.

In the brief video, as usual, Adam highlights key Fibonacci retracement levels and comments – as I have been doing – on the negative MACD Divergence (standard settings) that has formed into a key Fibonacci level.

Here is a screen capture of Adam’s Fibonacci grid:

Here is a video screen capture of the current MACD (standard settings) divergence:

Clicking on either image will open the video page for you.

In introducing the video, Adam writes, “Today we are going to be examining the NASDAQ Index. This market, which made its peak in 2000 at the height of the dot com bubble, remains in a secular bear market.

After making a low in March of 2001, this market has had multi-year recovery which has rallied it very close to a 50% Fibonacci retracement level. After a nearly 50% recovery, this market now appears to be faltering.

The months of September and October are now with us and both of these months tend to be treacherous for the equity markets. We would not be surprised to see more of a two-way trading market before it eventually falls on its own weight and resumes a downward path. This is what we expect to happen, however, we are going to rely on our Trade Triangle technology to give us the perfect timing for that event.

In today’s video I will show you graphically what I expect to happen to the NASDAQ Index.”

Thank you to Adam and staff for making these quick updates available to us!

You may also subscribe to Market Club for instant updates, screening tools, proprietary ‘trade triangles,’ news, education, and more.

Corey Rosenbloom, CMT

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