Nasdaq-100 : End of Bull Leg?

R

riskfreetrading

Hi All,

Analysis of Nasdaq-100: proprietary models say end of recent bull leg is imminent (Analysis says that the top of this leg is in the area of the high of today (April 29, 2009 trading)).

What do your numbers/analysis say? If someone has the Put/Call ratio and also an analysis of public's opinion on Nasdaq-100, it would be good.

Today's gap may have been an exhaustion gap.
 
Today's high (Q's, 34.40) occurred in the vicinity of a pivot low (34.35) which occurred during the week of 4/29, 2005. Combined with overbought conditions and a looming panic over flu, seemed like a reasonable entry for a short. Doesn't seem like this rally wants to end, so my stop is today's high + a few.
 
I/ve reviewed a number of indicators that point to a reversal.....sure seemed as if market could only go up earlier today. Also, selloff in final hour also confirmed.
 
Watch the 200 sma on the Qs.

"They" were popping it after the Fed and failed to hold.

The 200 sma is also at some other important levels.

If Qs can't break and hold the failure could be magnificent.
 
Quote from riskfreetrading:

Hi All,

Analysis of Nasdaq-100: proprietary models say end of recent bull leg is imminent (Analysis says that the top of this leg is in the area of the high of today (April 29, 2009 trading)).

What do your numbers/analysis say? If someone has the Put/Call ratio and also an analysis of public's opinion on Nasdaq-100, it would be good.

Today's gap may have been an exhaustion gap.
More...

investor sentiment seems quite bearish right now. this is inconsistent with a major top. maybe we will trade in a range for a while.
 
The NDX has rallied a mere 33% since Mar9. The next resistance point is 4150, which it will surely reach by August '09. It's about time it recovered from that imaginary tech bubble.
 
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