Trends and Targets for 19/11/2018

The #NASDAQ Big Picture #BRENT #DAX Similar to the S&P, the Nasdaq is often referred by few names depending which trading platform used. US Tech 100 seems to be most common at present. From our perspective, it can prove astonishingly reliable, often very fast to move.

At time of writing, this index is trading at 6867 points and since our last report, appears to be harbouring an ambition of dropping to 6200 points. Thankfully there is a pretty solidly defined uptrend since 2016 which looks perfectly capable of provoking a bounce should such a drop become reality. A glance back at market lows earlier this year will tend assure traders there’s a natural bottom around the 6200 level.

Usually we are pretty confident in giving drop trigger levels but against this particular index, we’re fairly clueless. The problem has been caused by some of the wild swings during the last few months, meaning it’s only a “safe” short if it trades below 6575 points. This is pretty useless, given its current price. Even when we zoom in and examine the strength of moves above and below the visual pivot level at 6925 points, our best guess will be to assume the Nasdaq about to become critical if it manages below 6640 points.

 

Of course, there is no rule RED on the chart will be respected. Our secondary, should this index close a session below 6200 is at 5300 points!

 

For now, this market is bouncing above and below 6925. If any strength is evident near term, apparently movement now above 6960 is supposed to generate a surge to 7127 points. The visuals imply this will keep the price within its current trading range. Only if above 7127 dare we speculate on a secondary at 7415 points.

 

For now, we suspect 6200 will eventually make itself known, the market appearing to be awaiting an excuse for a sharp drop.

Chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

3:23:52PM

BRENT

67.16

66.17

65.385

64.36

68.22

68.7

69.33

70.87

67.1

‘cess

3:42:57PM

GOLD

1221.99

Success

3:57:00PM

FTSE

7041.57

Success

4:12:36PM

FRANCE

5041

‘cess

4:16:02PM

GERMANY

11379

11228

11207

11143

11327

11402

11454.5

11530

11309

‘cess

4:18:00PM

US500

2740.92

‘cess

4:20:20PM

DOW

25451

‘cess

4:21:52PM

NASDAQ

6886.99

‘cess

4:23:25PM

JAPAN

21751

 

 

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