NAS weekly 22 weeks until now.

Here are the 22 weekly bars I follow for the other main indexes. You see the falling 21 week MA and the rising 8 week MA. The question is will this sideways trend break on downside or upside. Will there be a cross of the MA:s or will the 8 week MA give up and turn down before it hits the 21 MA. As it stands right now the 8 MA will turn down already next Monday. If you count 8 bars back from the right, not including the current last bar you will see the close below the current dotted price line. That close is what keeps the 8 MA rising. But if we assume that this will be the close on Friday the 8 MA will turn down on Monday because the price line will the be below the new 8 bar's close. You also see the closes from 8 bars back until now are rising which means the trend will start falling. As we go along you will learn this most important rule I invented 1984.

No comments:

Post a Comment