This blog is about how the world stock markets perform and which way they will take next.I have developed my own technical tools during 30 years to give the investor early warnings for coming big changes in the main trends and for the trader to take positions before the markets react.
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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.