Donoghue Technical Analysis

Search This Blog

will the Nasdaq 100 drop 5,000 points by 2020?

September 12, 2017

Get link
Facebook
X
Pinterest
Email
Other Apps

Get link
Facebook
X
Pinterest
Email
Other Apps

Comments

S&P 400 Index is Humpty Dumpty before the great fall

South Korea, please free Park Dae-sung immediately

I was astonished to read today that the South Korean government has arrested 31-year-old Park Dae-sung, blogger, because his economic forecasts have been so accurate. Apparently his specific predictions of such events as the collapse of US Investment Bank Lehman Brothers and the decline of the South Korean currency has outraged the powers that be. They accuse him of other ridiculous-sounding things, as well. It looks to me to be simply an attack on free speech in South Korea. But here’s the article I read, from the BBC International web site: http://news.bbc.co.uk/2/hi/business/7839375.stm By the way, I glanced at the Korean Composite Stock Price Index (the KOSPI) just moments ago. It’s the main tracking index for the 200 largest, most liquid issues traded in South Korea: http://finance.yahoo.com/q/ta?s=%5EKS11&t=5y&l=on&z=m&q=l&p=&a=&c = This Index is sick. It is extremely likely that the KOSPI will shortly end its sideways corrective phase (which began in ...

The XOM bomb? Caution is called for.

Click on chart for larger image Exxon Mobil, NYSE: XOM , trades on the New York Stock Exchange. Its closing price (Monday 27 July 2009) was $72.75. I believe it would be wise to be cautious going into further long positions for the time being. XOM may be completing a fourth wave (at letter E in the chart above). Note the appalling state of the 30 week simple moving average. This may well be an outstanding example of the ending of the global bear market rally which started last March. The rally has been so strong that I think it might surprise on the upside in the near term. But I would advise getting ready for a reversal. If XOM's price begins to drop, there is a distinct possibility it will travel to the $52.00 region which would be about the midpoint of the downward sloping channel marked on the chart. XOM's price may well take a breather at the $52.00 mark to gather steam, and then head on down to the $40.00 and below area. All the best to one and all! James Leo Donoghue le...

Powered by Blogger

will the Nasdaq 100 drop 5,000 points by 2020?

Comments

Post a Comment