.........NDX's (NASDAQ 100) Big Picture Chart With The Elliott Wave Count
NDX's (NASDAQ 100, http://stockcharts.com/charts/gallery.html?%24ndx) Cyclical Bull Market since October 2002 is in the third/final Wave 5 upcycle, see new (done tonight) chart 1 at http://www.joefrocks.com/GoldStockCharts.html, so, a cycle high appears imminent. NDX's (NASDAQ 100) parabolic/steep rate of ascent the past year is a sign that it's in the third/final Wave 5 spike move of the Cyclical Bull Market since October 2002.
Also, Wave 5 of Wave 5 has been in effect since 8-16-07, and, a cycle high appears imminent, since NDX (NASDAQ 100) has an Elliott Wave 12345 up down up down up pattern since 8-16-07, see http://stockcharts.com/charts/gallery.html?%24ndx. So, an NDX Cyclical Bull Market (since October 2002) cycle high truly appears imminent.
Cycle trendlines/channels used in concert with Elliott Wave patterns and gaps are the basis/crux of "Trade the Cycles." "Gaps action" is very important.
If one decides to trade volatile stocks/ETFs obviously paper trade for a while or trade very modest positions at first.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
....... http://www.JoeFRocks.com/ .
Also, Wave 5 of Wave 5 has been in effect since 8-16-07, and, a cycle high appears imminent, since NDX (NASDAQ 100) has an Elliott Wave 12345 up down up down up pattern since 8-16-07, see http://stockcharts.com/charts/gallery.html?%24ndx. So, an NDX Cyclical Bull Market (since October 2002) cycle high truly appears imminent.
Cycle trendlines/channels used in concert with Elliott Wave patterns and gaps are the basis/crux of "Trade the Cycles." "Gaps action" is very important.
If one decides to trade volatile stocks/ETFs obviously paper trade for a while or trade very modest positions at first.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
....... http://www.JoeFRocks.com/ .
posted by Joe Ferrazzano at
8:35 PM
