U.S Stock Market Index – NASDAQ

You can’t keep a good dog down. There are some wonderful traders I follow that have been calling for imminent collapse of the U.S. stock market index. They offer very sound, thoughtful, thorough and persuasive reasons why the U.S. stock market should not be at present levels. They have even doubled down in recent weeks on their bets. The problem is that the U.S. stock market could care less about the thinking these traders hold forth. They will likely be right … eventually. But price is always King.

Personally, I believe the U.S. stock market is in the final blow-off in the bull market that began in early 2009 – but blow-offs can be very rewarding for longs capable of catching the eventual turn in trend. The NASDAQ index is constructing a possible H&S failure pattern on the daily graph – requiring a decisive close above the right shoulder high at 4897. A H&S failure pattern would establish a profit target of 5123.

I am interested in this possible buy signal if I can find a low risk way to play it. H&S failure patterns are not unknown to the NASDAQ Index. In fact, a massive H&S failure pattern was completed on the weekly graph in Jul (see below). If I do not find a spot to buy NASDAQ with less than a 20 or so point risk I will just watch the balloons float away.

Factor Membership

 

Peter Brandt is a 40+ year veteran of trading.  Through his Factor Service, members receive:

Trading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book

Weekend Update: 10-16 pages full of in-depth chart analysis and charting commentary

Alerts: Detailed information on specific charts as unique opportunities present themselves

Market Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically

Webinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions

Knowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content

Automatic notifications: Email and social media notifications are sent out when new content is published

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.   Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about.  For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.