Nasdaq has topped

[themickey]

I expect it to bust down through the lower imaginary line.

Wrong

Otherwise I will have drawn it for nothing

Right
Hehehe just kidding

 

[Overnight]

According to my most recent WTILs, or Wishful Thinking Imaginary LInes, you are right...

If you mean the green lines are your imaginary lines? Nah, that's a TA classic. You've drawn a trend channel. Where you anchored the upper bound is not visible on that chart, but the bottom line looks cogent.

 

[Master Pu]

IMHO we aren't done with the selling, VIX is still poised to shoot upwards and when it does we all know what happens, indexes go in the opposite direction. Both NDX and Russell are below 20SMA on weekly and couldn't lock above it, whereas SPX & DJIA are both above 20SMA, so it's a bit of a magnet, and TRAN! That's way above the 20SMA on weekly chart.

So I would still be looking to sell retracements.

 

[Master Pu]

Short 13219
Stop 13250
Target 12970 area

Potential double top can be seen on hourly. In fact there now have been 5 attempts to breakthrough current level.

 

[Master Pu]

Stopped

 

[Master Pu]

My call Nasdaq up from here. Might run up a couple weeks, even a month...??

Nice call!

 

[Saltynuts]

LOL

 

[Master Pu]

Going to wait for reaction here. Totally missed the train today lol.

 

[Master Pu]

Taken a shot here

Short 13510 close stop

 

[Overnight]

Taken a shot here

Short 13510 close stop

A 350 point range, all to the upside, and you are trying to short it in the last 30 mins?

*smack* Pu, you're better than that!