Yes. The Halloween Holiday is around the corner.
NASDAQ Past 12-Month Daily Chart:
Annotation: Nasdaq's adjustment today is a further confirmation for the last Friday's Cross-Star. Once it lost its tech support at the Line of 6600, Nasdaqt will keep going down to touch the Line of 6550.
NASDAQ Past 5-Year Weekly Chart:
Annotation: The little Hanging-Man is not a good sign for the Nasdaq bulls though the MACD has a gold cross support. How long will that MACD's gold-cross hold there? After all, the STO has reached its top level.
NASDAQ Past 30-Year Monthly Chart:
Annotation: NASDAQ has been going up since the past 4 months without any major adjustments. Its MACD, STO, and RSI have showed the Nasdaq bubbles have reached their top levels. This chart does not mean that it's impossible for the NASDAQ to pass 100(STO) and 80(RSI), the last carnival is being seen in front of us.
OK. Good enough. Since the market is about to pullback, where will NASDAQ touch first?
NASDAQ Past 12-Month Daily Chart:
Annotation: If it starts going down, the first key support line for the NASDAQ should be its 50-day moving average line (Yellow Line). In other words, we will watch its performance at 6450 points closely before we make another serious judgement.
Conclusion: The market is facing a major adjustment finally. Are you ready?
