Friday, May 16, 2014 1:42:53 PM
NASDAQ - To me the NASDAQ are the leaders, tech companies, high flyers, etc. Here is a MONTHLY chart of the last 18 years of the COMPQ.
Is it moving back into the channel and then moving up? As most know, I'm a firm believer of RSI trendlines. From what I can see, the RSI has just broken below the green support line that I drew. That by itself doesn't mean too much, but if it falls below the red RSI support line I drew - around 65ish, that could mean trouble.
Just my opinion of course. 2003 - 2008 (5 years) of mostly in Overbought on Full STO (always over 50ish) - then back down. 2009 - 2014 (5 years) of mostly in Overbought on Full STO (always over 50ish) and now peaking???
NASDAQ MONTHLY CHART with pretty lines and annotations.
Is it moving back into the channel and then moving up? As most know, I'm a firm believer of RSI trendlines. From what I can see, the RSI has just broken below the green support line that I drew. That by itself doesn't mean too much, but if it falls below the red RSI support line I drew - around 65ish, that could mean trouble.
Just my opinion of course. 2003 - 2008 (5 years) of mostly in Overbought on Full STO (always over 50ish) - then back down. 2009 - 2014 (5 years) of mostly in Overbought on Full STO (always over 50ish) and now peaking???
NASDAQ MONTHLY CHART with pretty lines and annotations.
These thoughts are just mine, not right, not wrong, just thoughts. Invest in what you believe in, not what I believe in. Do your research, and invest in the facts.
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