The dynamics of the trap zone in the NASDAQ 30m chart has become very complex and very interesting. Please refer to he chart below. The initial trap zone is expanded in both time and price dimensions. At the same time, a new bearish trap-zone is formed inside it.
Generally speaking, the money-making zone after such trap-zones will be pretty impressive !
Below are several key points to watch:
- For bulls, 2005 and 2020 is the breakout targets
- For bears, 1960 and 1940 is the breakdown targets
- In the daily chart, a possible DOWN wave has formed as marked in the chart
- Tomorrow morning there should be a UP wave, if it can not surpass 2000, things could be worse for the Bulls.
Tomorrow morning's AIG's earning report, as well as the unemployment rate for July, could stir up or down the market, if there are some surprises.
A big down day tomorrow. QID will hit 30 soon.
ReplyDeleteBears have scare to death this morning, but is best time to short. Just my feeling, not suggest any action.
ReplyDeleteJZ
JZ,
ReplyDeleteas a trader, ONLY act on confirmed signal !! other wise, it is pure gambling !
The market is still in the trap zone, as mentioned last night, it reaches almost the target 2005 in this UP wave as expected. Once 2005 is taken out, it will try 2020, after 2020, then a stong money-making wave is coming..
Of course, if bears can break down 1960 and 1940, then another story.
Before that, only market determines the direction, not you or me. Just follow the market !
Tiger
Tiger,
ReplyDeleteYou are right. Thanks.
JZ