While doing market analysis on the NASDAQ index, using a Fibonacci retracement, it is becoming apparent that a downward adjustment is imminent. The index was at 2185.45 which is between the 50-61.8% level on the Fibonacci scale

The NASDAQ index is now in thin air and appears to be waning in strength. In this new video Adam Hewison of MarketClub shows exactly what he believes will happen to this market.

Unlike the Dow and the S&P 500, the NASDAQ index has reached unsustainable levels. This is a dangerous area for this index to be in and we would not be surprised to see downward pressure coming into this market later this year or into 2010.

As always the MarketClub videos are free to watch and there is never a need to register.

NASDAQ Video Here

Thanks for reading,

John

What does this mean for the future?

The Dow is now within 100 points of being into thin air as it has retraced close to 50% of its down move. The NASDAQ has already done this, and the S&P 500 has come very close to achieving this goal. Clearly the trend continues to be positive for the Dow with today’s new highs. The other two indices, while closing very well and on an upbeat note, must clear their previous highs to start another push to the upside. It remains to be seen whether or not that will take place.

Clearly this is an emotional market that’s been driven more by sentiment then hard economic news.

Having said that, one must take into consideration the perception of the marketplace, and as of right now that perception continues to be friendly towards the long side of these markets.

In my new video I show you some of the key points to look at in terms of where these markets could potentially break down, and possibly reverse to the downside.

Watch the video now!

After watching the video stop by and leave your comments below.

All the best,

John

The question now is, what’s going to happen to gold after it hit our first target level?

See the latest in our series of Videos on Gold

The main trend continues to be positive and I believe that any pullback in this market should be met with good support. It is possible that we could see a pullback of $20-$25 which would not change the overall positive trend of the market which we see continuing until the end of the year.

As readers of this blog know, we have an upside target zone of $1,250-$1,300 an ounce for gold. While that target zone is still in place, we believe that the huge “energy field” that we’ve discussed in our earlier gold videos is capable of pushing this market higher.

In this new video I explain some of the areas that I’m looking at and also some of the places where you can place tight stops to lock in profits.

Watch the video now!

As always the videos are free to watch and there is no need to register. I would love to hear your views on gold in our Trader’s Blog comment section.
All the best,

John

See this short video

That was the headline news today on Research in Motion symbol RIMM so I decided to look at the chart to see what was going on in the “real world”. When I got to the chart, one thing immediately jumped out at me and that was the negative action that this market has shown in the past several weeks. Looking at this market a little closer I was able to see that our “Trade Triangle” technology was 100% negative and that our monthly “Trade Triangle” indicator had turned negative on October 28th at $63.38. This is a major negative in my mind for this market.

In this short video Adam Hewison of MarketClub  shows  you exactly what we expect to see for RIMM in the future. He  also shares with you some downside targets that we are looking at which may surprise you.