Ndx (nq) 2400?

Discussion in 'Trading' started by Pa(b)st Prime, Jul 9, 2007.

Tech Explosion?

  1. NDX will rally 20% the next two months

    7 vote(s)
  2. The market is topping right here and now

    2 vote(s)
  3. Slow and steady upward:2400 by year end

    3 vote(s)
  1. Why not. Looks to me that above 2000 there's a vacuum of serious proportions. I hear little of participants anticipating a parabolic in your face type climax to this bull cycle. On the other hand this stuff could stop dead in it's trax right here......
  2. Interesting that this thread has seen little play. Bullish indicator?
  3. No. Everybody is hungover from the 7-7-07 concerts.
  4. An old trick in commodity trading is to be cognizant of levels where the market previously engaged in "single prints".

    On February 15th, 2001 NDX gapped 50 higher from the previous day and closed 60 better after trading 118 higher on the day. The closing price of 2371 has never been seen again.

    The next session (2/16/01) NDX gapped 60 lower leaving a double gap in the 2300's. (unfortunately I can't "copy" my Esignal charts).

    As much as I'm chomping at the bit to get short here, it's impossible for me to not see a ton of risk selling into these prices.

    We all know selling this market the past 5 years has been a bear (no pun intended) but generally selling swing highs have produced little pain. These highs could be different......
  5. S2007S


    Im going with a 8-15% increase in the NDX by end of August, nothing seems to stop the bull. I believe with earnings due the next 4-6 weeks it will only be better for the markets, reason being is this.

    Most of these companies have set the bar so low for earnings that beating them will not be a problem at all, most are expecting 5-9% increase in earnings this Quarter, no one is expecting anything in the double digit range, so lower the the bar and beat by a mile sending stocks up for the next 2 months. Also the weak dollar is going to help many companies. We saw it with CAT last quarter and will see it again happening across the board for most companies.

    AA reports after the close today, I think this stock heads to 44-45 range.

    GE is the next DOW component on Friday.

    I see the NDX breaking 2000 sometime in the next 3-5 trading days and heading to the 2200 range by end of August. There is no stopping this bull market.