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Stock market forecast for investing - What is next?
Patel (3/29/2009 10:46:30 PM)

NASDAQ Index hit our target and started down move, at this stage to go more up Nasdaq need breakout 1591 and to close above that. 1591 is a strong resistance. Daily chart telling us market in a major supply zone and major trend is still


strong down trend in force, Now this week 1440/1434 is a very important support in any case if NASDAQ goes below this support you can do short sell to ride on down move with target 1321 and 1591 is a important resistance. Any move above 1591 can pull Stock market up to 1617 / 1642 you can enter short here with 25 point stop loss.

Stockhastic and Rate of change of price – ROC telling Stock market going to start down move with target 1440. Market looks overbought for short term so be careful for any long position and to control risk keep tight stop loss. Using this Stock market forecast you can plan your day trading, Stock trading or Stock investing strategy.

This weeks due economics data are Consumer Confidence, ISM Mfg Index, Motor Vehicle Sales, Construction Spending, Pending Home Sales, Factory Orders Jobless claim and Employment Situation that you need to watch closely before to start day trading or Stock trading in the Stock market.

For this week 1440 is a important support, any failure of this support NASDAQ index can go up to 1321 any down move need to hold 1321 support. If Nasdaq hit 1321 you can go long with 10 point stop loss.

For Day trading you need to keep eye on strong Support and resistance because once it clear out, Stock market goes up to next strong support or resistance. So instead of guessing market trend follow support and resistance. For Stock investing or Stock trading you can go long or short after market clear out strong resistance or support or you can do reverse and for batter result you can combine it with Stockhastic (STO) or Average Directional Movement Index (ADX)






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