Tuesday, August 19, 2014

Equities: Another 7% Higher on the Nasdaq 100 (NDX)

This is only a guess but it is as good as any, plus the summer-into-autumn color palette is nicely topical.
The hundo's up another 9.69 at 4,030.19.
This is the third attempt to push through the ~4,030 level this morning. If it happens the upside would manifest very quickly.
From Dragonfly Capital:
Seems like since the bottom in March of 2009 everyone, their neighbor, their barber, their Uber driver and their mother has been trying to call a top in the markets and an impending correction. What if everyone of them is wrong? The Nasdaq 100 gives a clue as to where it might go if it just keeps running. It is mot a prediction or a forecast but take a look.
ndx
A very simple AB=CD pattern, where the move higher before the pullback is repeated after it stabilizes and turns again higher, projects the current leg could go as high as 4300. That is almost another 7% higher. What do the momentum indicators say?...MORE
Here's Yahoo Finance on this morning's action:
NASDAQ-100 (^NDX)