Nasdaq turned on all-time high
resistance of 15 years ago (pink). It has reverted to
the mean of around 4,400 which could be a good support.
This is the
most bearish chart. The top is very clear and formed on
a 28-year resistance as shown in orange and channel
resistance in grey. The top suggests that the index has
further to fall. But the channel is not yet broken. So
we could see a range for a year or two before anything
decisive happens. First thing to watch for is to see
which breaks first: channel support in grey or
resistance in pink. On such a long scale chart even this
could take until the rest of the year.
The biggest set of new lows
for several years paints a bearish picture.
Support at 34 was the low of
2008/9. Green channel support at 25 is clear but far
away. Orange support is not very clear.
EFA, mostly Europe and a bit
of Japan and Australia, well supported. But failure of
the blue support would be bearish.
Nikkei pulled back to neckline
support and channel support. This is still very bullish.
Nice little turn on orange
support and interesting rally in blue channel. Target of
0.9 is questionable while the orange channel support
holds. We now have a resistance in black to watch.
Still flirting with support. A
bottom forming on this support would be most persuasive.
Good support in pink. But
the top suggests support will break. Let's see.
Target cancelled. Good support
at around 20,000, or a bit lower.
Same story on the 24 year
chart. Support at around 20,000.
Reverted to the nine-year
average. Let's see if the average holds as a
support, as it did in 2010.
1,300 reached (pink) but support as low as 1,260 and
then 1,200. Nasty double top scenario, if the support at
Double support at 1,200.
Good support at around 350.
Good support now and then at
around 190, which would be the 15 year average. Worst
case scenario in green.
17 year average failed to
support the index. Support now at 260.
Support now. If it fails we
have a top target of 10,000.
Good support now. If it
fails, expect 41.