Similar to the Dow Jones index, S&P500 and Nasdaq is also following the big brother swinging up and down in a sideway market.
You can use a sideway strategy to short at resistance and long at support. This is a useful trading strategy you can adopt during thistough period of time to make some pocket money.
Find out the support and resistance now!
We saw last week that Dow Jones Industrial Average fell to new low and I was predicting that DJ will touch the 2002 low at 7,100. However, it did not touch exactly on 2002 low but it rebounded with a weekly gain to cheer for the Thanksgiving.
S&P and Nasdaq also have similar stock market trends. Where to you think the US stock market will head to next?
Let’s take a closer look at Dow Jones, S&P500 and Nasdaq now!
After looking at the stock market trends of US market, I believe that the market has entered into a sideway market. Sideway market means the market will rebound from support and retrace from resistance. It is a great opportunity for stock market trading.
Let’s take a look at the US Stock market trends now!
After looking at Dow Jones Industrial Average weekly stock market trends, I am now also looking at the S&P500 and Nasdaq stock indices as well. These two major US indices are also hitting resistance and they will either go to a sideway market or down trending market as the US Dow Jones stock market trends.
Well, it has been a week plus since my last post on Dow Jones Industrial Average and S&P500. My last post was the Dow Jones Index and S&P500 broke the 61.8% Fibonacci level. It was extremely bearish and the market was like a snowball rolling downward.
Finally, the market has calmed down a bit and it is hovering sideway for the past 1 week, still having high volatility though.
I have just observed some special formation on Dow Jones Industrial Average, S&P500 and Nasdaq now!
It is Sep 15 today, and it will be another important day to mark on the “The Stock Traders Almanac”. 2 investment giants, Lehman brothers and Merrill Lynch, will disappear from the financial world. Lehman files for bankruptcy and Merrill Lynch is sold to Bank of America.
The announcement was released today and that has lead to the massive plunging across the almost all stock markets in the world.
Let’s look at the critical support of US markets indices now!
Following the part 1 of bearish outlook on US markets – Part 1 – Dow Jones, we shall now look at the part 2 on Nasdaq after hitting the stubborn resistance last week.
Similarly to our earlier post on Dow Jones, we shall now analyse Nasdaq on both daily and weekly chart.
Let’s get started!
It was like a roller coaster ride this week on US markets, bouncing up and down. It might appear to be the end of bear market and bull is bring the market up. However, the other some news hit and it come back down again.
The up and down was responding to some news release this week. There was one day positive news and another bad news, that explains the up and down roller coaster ride.
Let’s look ahead on the upcoming stock market trends on Dow Jones, S&P500 and Nasdaq!
