June 14, 2010

Nasdaq Composite Weekly analysis

DAILY CHART
DAILY CHART LINE
  • The first chart shows the moving average situation of NASDAQ COMPOSITE in daily chart.
  • Unlike dow jones in nasdaq composite the 20 day moving average has stayed above the 200 day moving average.
  • And the price is also trading above its 10 day and 200 day SMA's. And on friday the index stopped just short of its 20 day SMA.
  • The 2nd chart shows a descending triangle kind of pattern were the price is trading close to a resistance trend line. Any upsides are possible only after the trend line breakout and a daily close above it. And it is similar to the falling wedge as well.
  • If an upside break out happens and the index closes above the trend lines the first target is 2327.
  • SP 500 EOD ANALYSIS
  • POWERSHARES QQQ TRUST SERIES I WEEKLY ANALYSIS
  • DOW JONES WEEKLY ANALYSIS

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