Dashboard USA – Nasdaq100, Apple and Facebook

FEB 21

The S&P500 tested resistance from green trend line @ 2366, still on a long signal, uptrend. Usually, when it trades below the trend channel and retests the uptrend but fails (so far), then a sell off is coming. But then again, nothing seems to stop this market. At least, that’s what everyone says right now. So calling the High @ 2366? 😉 Trend stays LONG > 2329-37, new sell below these levels.

Nasdaq underperforming the S&P500 and Dow Jones, see this more often right before a change in trend. No guarantees though. Long signal > 5280. A bit more downside and today forms a Shooting Star (bearish candle stick pattern…if you don’t know, google it and learn to recognize patterns. No 100% score, but the psychology behind it says a lot –> Hammers, doji’s, shooting star, engulfing patterns).

Next example, Shooting Star, Tesla produced it 5 days ago, after which a sell off started. Tesla new SELL below 268. Jun 22 news release new model and quarterly results. Expect a large move, up or down: total blow away or complete failure, there’s no halfway with Tesla.

Facebook in doubt, should we break the triangle pattern to the upside or to the downside?

Apple, small move today, doji = doubt, still safely above trend line, key level 136. Still on Long signal, new sell below 133.75.

Amazon, going strong. Miles away from a new Sell, 833.

Walmart gapping up, needs to stay positive to escape the shooting star pattern.

Overall, the charts are on a Long signal (7 out of 8), but I’m not getting very bullish from recent patterns…One down day of 1% (seems impossible nowadays right? ;)) and we’re close to new sell signals.