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Weekly Nasdaq Forecast

Summary

at all times high.

Buy at the top, sell at the bottom.

It is going up and upper!

See from the chart above, about 83% of S&P 500 stocks are above their 50 days SMA. The breath is profound and good. It has reached the April 2019 highs. So, if that is the case then, is a correction imminent ? No, not right away; for the price is not falling.

The following has been added to how and why page.

This (# 3 and #4) i have added after a few years of full time trading as of July 13th 2019 (in south indian city of Hyderabad): Price is the only true north star. Not only all is in the price, all is the price.

Buy at the top, sell at the bottom -Profit in assets are only made at the price you buy not at the price you sell. So you go long (BUY) at the beginning or there about of an uptrend or go short (sell) at beginning or thereabouts of a downtrend. Since price is the only true North Star. One ‘exits’ at the top or bottom to make true profit and to accumulate assets. In both cases - long or short - you are buying low and selling high (in trend following jargon - you are always buying and selling in strength, that is you are little late to the party and leave a little more earlier) . THIS DOES NOT MEAN YOU ARE ACCUMULATING ASSETS AS PRICE IS FALLING. In fact it is exactly opposite to it. Accumulating assets as prices are falling is buying high and selling low ( you sell low because you can’t bear the pain of loss). You always accumulate assets when price is rising. You exit assets when it’s price is falling.

https://mytraveltrading.com/method-how-and-why/

Disclosure: I am/we are long TQQQ.