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Re: DiscoverGold post# 65003

Saturday, 12/08/2018 10:18:24 AM

Saturday, December 08, 2018 10:18:24 AM

Post# of 67469
NASDAQ Composite Index Cash Summary Analysis
By: Marty Armstrong | December 8, 2018

Analysis for the Week of December 10, 2018

THE ANALYSIS PER THE CLOSE OF Fri. Dec. 7, 2018: NASDAQ Composite Index Cash closed today at 696925 and is trading up about 0.95% for the year from last year's closing of 690339. Thus far, we have been trading down for the past 4 days, while we have made a low at 694527 following the high established Mon. Dec. 3, 2018, this price action warns of at least a pause in trend if not a retest of key support. Only a close above 720537 would imply a retest of the previous high. We did exceed the previous session's high and closed below that low creating an outside reversal to the downside. Nonetheless, the market remains quite bearish. (Note: We have included reference to Reversals and Short-Term timing considerations in this Summary Analysis, but please keep in mind this is a preview only - these references will be removed from Summary Analysis and moved to our higher levels of market analysis upon the upcoming launch of our expanded platform service.)

Taking a broader cyclical perspective, the view which provides a map to the future is particularly important. and since we have made a new high. This warns that a year-end closing below 690339 would suggest that a correction into the next target due 2022 becomes possible.

During this year, we have exceeded last year's high which formed the new historical major high to date and we have been in a bull market for a very extended period of 44 years. The last major cyclical low took place in 2002 from which we have witnessed a 16 year broader-term rally. On the shorter-term perspective, the last minor cyclical low took place in 2016 from which we have experienced a 2 year rally. This market on the yearly level has been making new highs since the last low established 1 year ago which has been a series of successive advances. The last 4 highs have been progressively making higher highs implying we have a bullish market in motion for the past 0. We have not elected any Bullish Reversals thus far.

Meanwhile, our technical resistance stands at 864342 and it will require a closing above this level to signal a breakout of the upside is unfolding. Relying on our Reversal System, our next Weekly Bullish Reversal to watch stands at 752054 while the Weekly Bearish Reversal lies at 692696. This provides a 7.89% trading range. Turning to the broader Monthly level, the current Bullish Reversal stands at 763728 while the Bearish Reversal lies at 680595. This, of course, gives us a broader trading range of a 10%. Immediately, we closed the last session trading at the 696925, which is below this level on a daily closing basis at this moment. We need to close above this on a weekly basis to signal a rally is unfolding. Right now, the market is trading some 7.33% beneath that level.

A possible change in trend appears due come February 2019 in NASDAQ Composite Index Cash so be focused. The last cyclical event was a low established back during November. Normally, this implies that the next turning point should be a reaction high. However, the market has been neutral for right now so caution is advisable and look more closely at the short-term trading levels for a hint of the next directional move into that target time frame. Last month produced a low at 683076 but closed on the positive side and so far, we are trading neutral within last month's trading range of 757293 to 683076. We need to breakout of this range to confirm the direction. Therefore, a close above will be bullish and a close below will warn of a possible decline.

The Daily level of this market is currently in a full bearish immediate tone with resistance at 710514. To date, this decline has been down forfour daily sessions.

On the weekly level, the last important high was established the week of August 27th at 813330, which was up 53 weeks from the low made back during the week of August 21st of 2017. We have been generally trading up for the past 2 weeks from the low of the week of November 19th, which has been a move of.0907%. Even so, we have not elected any Weekly buy signal to date.

At this moment, this market is in a downward trend on all our indicators looking at the weekly level. Eyeballing the direction of this trend, we had been moving down for 12 weeks. Subsequently, the market has consolidated for the past 2 sessions. The last high on the weekly level was 813330, which was created during the week of August 27th. The previous weekly level low was 683076, which formed during the week of November 19th. However, we still remain below key support and key resistance now stands at 760424 above the market.

Critical support still underlies this market at 680595 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Immediately, the market is trading within last month's trading range in a neutral position. Taking a broader view, this market is in a downward trend on all our indicators looking at the monthly level. We can see this market has been down for the past month. The last high on the monthly level was 813330, which was created during August. The previous monthly level low was 420976, which formed during February 2016, and only a break of 692283 on a closing basis would warn of a technical near-term change in trend. However, we still remain above key support 680596 on a closing basis.



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