Seeking Alpha

ker.nulov@gmail...'s  Instablog

ker.nulov@gmail.com
Send Message
FOREX & FUTURES day & swing trader.
My company:
Ker Trading
My blog:
Ker's Market Patterns
  • Time For The Bears To Return 0 comments
    Nov 4, 2012 10:38 AM

    After this year's february's monthly candle turned up it was clear there is not going to be any good for shorts this year. But 2012 could the reversal candle for the entire year, which is I think going to happen.

    On the monthly chart we see a clear double top pattern.

    (click to enlarge)nasdaq100 monthly top

    There is also a rising wedge. According candlestick patterns double top will be confirmed by November closing down. However, the wedge still has space to trade and close December up inside November's candle. But whatever the outlook will be, the top on US indices is in, so a short position can be put now. My target for the next year is 1450 level.

    Just to remind, this target is calculated as inverse relation to the target on the USD index, which has to achieve either 95 or 105 next year. (Nasdaq's 1450 corresponds to 95 on USD) Fundamentals are deflationary and has been since 2008, but we have a lot of speculative money playing, this why we have years of rising prices on all the instruments.

    Good luck to all the bears.

Back To ker.nulov@gmail.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Sinclair is finally quiet. This must be a short term bottom in gold, good for a test of 1450 and then to 700
    Apr 15, 2013
  • just to remind everybody that 2nd leg of Great Depression 1 started in April: http://bit.ly/17A9RQP
    Apr 14, 2013
  • AUD/USD gaqps down 60 pips to 1,0350, now, lets see how gold gaps when markets open
    Mar 17, 2013
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.