COMP - Sell Signal!

COMP broke the 2940 support and gave a sellsignal. We are still over the 2888 supportlevel but I have closed all of my long positions. Now I am a little short in the market and will go even more short if COMP comes closer to 2940. 2940 is now a resistance level. Stop loss if COMP closes above 3000.

COMP in Uptrend. But Watch Out if Below 2 940!

We have had several buy signals in the NASDAQ Composite Index, COMP, in recent months. Now COMP have given several warning signs that the uptrend weakens. We have a negative divergence in the stochastic indicator, and a sell signal in the MACD. If COMP closes below 2940, we get a sell signal that I will take very seriously.

COMP - Watch Out

If COMP closes under the 2 890 support level I will sell my longs and go short. It looks like we had a key reversal day yesterday. If COMP goes above 2 958 that signal is cancelled out, but if not and if we closes under 2 890...

Well, then I am want to be out of my longs and loaded with shorts!

COMP - More Buy Signals. But Is It Only A Bear Market Rally?

We got more buy signals at the NASDAQ Composite Index, COMP, when it closed above the resistance at 2 890. See the long chart in previous blog post.

I continue with my long positions, but I move my stop up to 2 829. We have an important trend line which provides support around the horizontal support at 2 834. I do not want a closing below that level.

It is a very real risk that this up move is just a big bear market rally. If so, the downward movement could become dramatic.

So, because of that I want to dance close to the door.

Stockmarkets Move Up. Heavy Resistance Soon.

The stockmarkets continue to show strength. How far will we go? There are heavy resistance at the 2 890 level on COMP. See the monthly chart attached.

Even More Buy Signals

NASDAQ Composite Index got even more buy signals now that it managed to break the resistance level at 2 750.

Now we rapidly move against my goal around the 2 888 resistance area.

Buy Signals in COMP

NASDAQ Composite (COMP) is moving higher. We have got several buysignals.

Stochastic is on a high level, but in this kind of market COMP could continue to rise in spite of that.

Now it looks like COMP could go up and test the resistance area around 2 888. It looks though like this is a bearmarket rally, so I will trade with close stops.