IXIC: Be careful with these points! Time to buy or sell?
Hello traders and investors! Let’s see how the NDX is doing today!
The index crashed a little this week, which is fine, but I find it curious that some people panic over just a 2% correction. The key is to have balance, and to know where to buy/sell.
Now it is not the time to buy Nasdaq, but I don’t think it is time to sell it either. The trend is clearly bullish, and let’s not forget Dow Theory 5th tenet: Trends persist until a clear reversal occurs. As long as we don’t see a clear reversal, all we can assume is that it’ll keep pushing up.
What would be an alarming sign? If the index loses the 14,511 (black line), after failing in defeating the purple trendline. We may drop to the 21 ema, or even a little bit below this point, and do some sideways movements for the next few days, but not lose the 14,511, as this will indicate exhaustion.
The daily chart suggests that a pullback to the 21 ema is plausible, but for now, we have no pullback signs around. The moment to buy was around May, when my followers and I bought many stocks, like PLTR, PINS, MSFT, AAPL, ARKK and many others at their dips. Now it is time to manage positions.
Now the amount of stocks trading at a discount is limited (there are still a lot there, if you know where to look), and if you want to trade, do it with caution. I’m neutral on Nasdaq, but still see some opportunities around.
Let’s watch these points and we’ll be just fine. Remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Have a good weekend!
The index crashed a little this week, which is fine, but I find it curious that some people panic over just a 2% correction. The key is to have balance, and to know where to buy/sell.
Now it is not the time to buy Nasdaq, but I don’t think it is time to sell it either. The trend is clearly bullish, and let’s not forget Dow Theory 5th tenet: Trends persist until a clear reversal occurs. As long as we don’t see a clear reversal, all we can assume is that it’ll keep pushing up.
What would be an alarming sign? If the index loses the 14,511 (black line), after failing in defeating the purple trendline. We may drop to the 21 ema, or even a little bit below this point, and do some sideways movements for the next few days, but not lose the 14,511, as this will indicate exhaustion.
The daily chart suggests that a pullback to the 21 ema is plausible, but for now, we have no pullback signs around. The moment to buy was around May, when my followers and I bought many stocks, like PLTR, PINS, MSFT, AAPL, ARKK and many others at their dips. Now it is time to manage positions.
Now the amount of stocks trading at a discount is limited (there are still a lot there, if you know where to look), and if you want to trade, do it with caution. I’m neutral on Nasdaq, but still see some opportunities around.
Let’s watch these points and we’ll be just fine. Remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!
Have a good weekend!
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