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For June 11
, 2010
(Provided to you in advance of the Trading Session)
Summary:
Longer term support is still being threatened.
Longer Term Chart Analysis for the NASDAQ
Our combined longer term
analysis tells us that the Market is threatening to
break longer term neutral support. This, when
combined with the reversal confirmation we pinpointed in
late April, suggests that aggressive breaks are likely
at some point. Treat support as inflection,
recognize that some markets have started to break below
longer term neutral support already, and prepare for
additional declines at some point as a result. A
slight bounce back is not uncommon, but the breach that
is obvious from some of the Markets we follow suggests
that an eventual turn lower should come. This sets
the stage for our longer term plans.
Special reports:
1. April 2010 - The
Reversal Confirmation
http://www.stocktradersdaily.com/may.htm
2. Game Plan
http://www.stocktradersdaily.com/short conversion2.pdf
3. 2010 - The Year of the increase:
http://www.stocktradersdaily.com/reports/2010.pdf
Dow parameters for Strategic Plan:
Please review the Strategic Plan page for details.
Investment Rate:
We are long term Bears.
We expect a GREATER DEPRESSION in the next 5 - 10 years. The Investment
Rate explains why. Find the link in the Main Menu of our Members Area.
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Initial long
term trading parameters for the NASDAQ exist between
2141 - 2537 |
| If
2141 breaks lower expect 1265 |
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If 2537 breaks
higher expect 2809 |
| Otherwise expect
2141 - 2537 to hold
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These Parameters are telling us to trade the
Market as follows...
RESISTANCE PLANS:
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If 2537 is tested first, these charts tell us to
short with a downside target of 2141.
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However, if
2537 breaks higher these same Parameters are telling us to expect 2809
SUPPORT PLANS:
-
But, if
2141 is tested , these same Parameters tell
us to buy the Market with a target of 2537.
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However, if
2141 breaks lower, these same Parameters are telling us
to expect 1265
IMPORTANT: The rules of trading say that a test
of support or resistance Parameters occur in the NASDAQ
when the NASDAQ comes within 3 points of our trading
Parameter (15 points for the DOW and 1.5 points for
the S&P). When, for example, the Market comes within
3 points of a support level, and, according to rule,
we look for a long position, we would refer to the Focus
List at that exact time to find which stocks are best
to trade. In order to work efficiently for Market-timing
purposes, we must look for trading ideas at the exact
time the Market offers us trading signals.
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Daily Market Report PDF