Nasdaq 100 is toppish (not bullish as S&P 500)

Catégorie [ Nasdaq 100 ]

Long term: focus on the quarterly basis.

On a yearly basis, our stochastic and MACD are oversold. Our 7 / 23 years moving averages are up with a PEI. UY is our first resistance.

On a quarterly basis, a type II will be in progress if LQ trend is down at the end of March. Otherwise, a bearish divergence is likely for our stochastic.

On a monthly basis, a type III is not in progress (NEI with monthly MACD).

Idea: use monthly parallel rules

Bet: bullish as long as MM= support.

R= UM (2958), S= MM (2581), LM (2163).

Medium term: rise but not bullish

On a weekly basis, UW / LW spread is expending. A PEI is the status for our stochastic and MACD. A NEI is in progress with our moving averages and on the upper time frame.

Idea: use our weekly MACD as a leading indicator

Bet: choppy.

R= UW (2830);     S=MW (2696).

Daily basis: higher

A bullish no-crossover is the status of our stochastic and MACD.  A NEI is in progress on the upper time frame.

Idea: use our daily MACD as a leading indicator

Bet: wait.

R= UW (2831);     S= MD (2765)

Conclusion: higher, on a medium term basis, as long as MW= support.