NDX: Long term investors should start booking profits
We are looking at the quarterly chart of Nasdaq. I get four signs to turn cautious and that the move is maturing.
- RSI Divergence
- Upper end of the Bollinger band
- About to hit 4.236 level of the Fibonacci
- Also about to touch the upper end of the parallel channel
Max upside is up to 20775 and downside will be under 10K. The index may make one more all time high but that should be the time to sell. Don't try to squeeze the last bit of the lemon; no one can tell you the exact top. Look for opportunities where the risk reward is more favorable.
- RSI Divergence
- Upper end of the Bollinger band
- About to hit 4.236 level of the Fibonacci
- Also about to touch the upper end of the parallel channel
Max upside is up to 20775 and downside will be under 10K. The index may make one more all time high but that should be the time to sell. Don't try to squeeze the last bit of the lemon; no one can tell you the exact top. Look for opportunities where the risk reward is more favorable.