Wednesday, August 5, 2009

NASDAQ Possible Moves in August (Technical Analysis)

NASDAQ Technical Analysis:

NASDAQ is getting close to its target 2000-2100 (the upper side the channel). This was the level that I was looking for profit taking and heavy short selling. NASDAQ should start to roll over soon, but if it manages to break out the channel and shoots higher would be very positive. I don't mean you should take big risk and go short ,but it would be a good level to take profit,and move to the side line. My bullish target for Nsdaq is 2155-2166. Lets see what's going to play out.

Related topics:
NASDAQ possible moves in July