Discussion in 'Technical Analysis' started by paysense, Oct 28, 2007.

  1. Hello All:

    I'd like to pose a question..."Why CAN'T the Nasdaq market come down from 2800 to 2500 in the near-term?"

    Gilbert aka Paysense
  2. Because you're short.
  3. B/c the interest rates are going down.
  4. Year-end, tax-related, short-covering motivated buying.


    Because charts do not favour the short side, there is simply no weakness that can be seen in price action, there is no point selling because you think it's 'overbought', I would watch weekly and daily charts with something like a simple MACD histogram as whenever histogram declines to its centreline only then there is simply a chance of a market correction that might lead to a reversal. Right now tech charts are showing strength ImO.
  6. IluvVol


    just wait it will all come down just give it enough time.
    My bet is 50% of short term index and stock traders here at ET will be wiped out by the middle of next year. Lol, but that may not mean much, guess that is about the turn-over rate here at ET anyway hehe
  7. Nasdaq 2500 may (finally) come pretty soon.