Ian Woodward's Investing Blog

Gunfight at the OK Corral Coming Soon


The Stage is set for the Gunfight at the OK Corral

The Combatants:  Bulls and Bears: 

The Site: The Nasdaq with lines drawn at 2572 for the Bulls and 2387 for the Bears 

Early Signs of Who’s Winning: 

The Bulls:

  1. 4-dma, 9-dma come up through the 17-dma; later 17-dma up through the 50-dma
  2. A Eureka Signal with a Follow through Day of 35 points up and 2 Billion Shares
  3. Directional Movement: Di+ above Di-
  4. The Nasdaq Index gets above the 50-dma at 2572 and then above 2616…the Upper BB

The Bears:

  1. The Nasdaq breaks down through the 200-dma at ~2500
  2. The Nasdaq goes down below the Lower BB, i.e., 2460, and %B goes Negative
  3. The Nasdaq breaks the previous low at 2387
  4.  The Nasdaq drops over 16% from the High…down to 2290

Best Regards, Ian.

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Disclaimer: Commentaries on this Blog are not to be construed as recommendations to buy or sell the market and/or specific securites. The consumer of the information is responsible for their own investment decisions.