Week. A very interesting chart but difficult now to make a forecast. The 8 week MA is down with strong support to get lower by the weeks. The 21 week MA is up and there is no cross. Now trading 3.512. At 3.541 is FIB 38,2 percent. NAS could easily rally above the 21 MA and get above the crucial 3.541 level. None of the smaller charts signal an upside move yet. On the other hand NAS has for long had the strongest upside move of all other indexes and such a performance use to top out first and will have the steepest decline. The first quarter company results are now coming and the market seems to expect bad forecasts for current quarter. Either this is the final top or just a fourth wave that will turn on upside and start the fifth and final wave. SP500 and NAS together will show what is going on. My own feeling is that SP500 has reached its peak so logically NAS's final top is on this chart.We just have to be patient and follow the company news day by day until the picture gets more clear.
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