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#CoronaCrash - Nasdaq is our LAST HOPE...

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So folks...  we started this series of threads here on the #CoronaCrash  a month ago:

We gave a short update two weeks ago on 3/22/20:

 

Now we are going to extend the downside projections focusing on NASDAQ... Why?  Because Nasdaq is the STRONGEST of the indices... All the other indices have TESTED their last EXTREME CRASH LOWS from the Christmas 2018 Crash and most are trading WELL UNDER those targets... So that leaves us with NASDAQ 6190...  the last one to be tested... we can very well judge the health of the market by watching this NASDAQ which had that 6190 target, but was able to bounce sharply at 6631...we still believe the odds favor a test of 6190 at this time.  If the market suddenly and dramatically improves, that would be a welcome outcome at this point.

My job isn't to sell HOPE... I will leave that to the television anchors and Wall Street "ANAL-ysts" 

This thread is offered as a public commentary in times of turmoil to give folks an idea of what to expect now and how to gauge expectations...

So first of all any substantial bounce in our leadership (to the downside this time) indices -- RUT and DJT will be a glimmer of hope... Remember these two indices led the market higher off the bottom in 2009 to new all time highs, they were first...  Now it's just the opposite... unfortunately the guidance we are seeing from those indices are NOT ENCOURAGING...

Here is where we are today with NASDAQ and it is OUR LAST HOPE... because it is stubbornly holding that #ChristmasCrash2018 Low.  As I said, we see odds for that to break and break soon...

 

 

nas 040420 w leg1 corona crash.png

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As many of you know I am a private pilot... In the airplane we have a saying... you either fly this airplane or it flies you... you MUST STAY AHEAD of the AIRPLANE - for flying that includes having your waypoints, radio frequencies lined up, planned in advance so you can navigate accurately and safely... we also must have ALTERNATIVE plans to include alternate airports given weather conditions, you must have those planned in advance too, because... shit happens.

You see it's really not much different in trading... you have to know the flight plan (specific price targets) from pivot to pivot to trade effectively and be completely ready to adjust your route (use stops and strategies to minimize risk and losses) as necessary... Those targets are what we provide on a daily basis... and shit is happening, so we all need to be nimble...and that's the guidance we give each and every day to our subscribers... make no mistake this service is designed and OPTIMIZED for SHORT TERM and DAY TRADING... holding positions overnight has been a brutal proposition.  Right now we are in CAPITAL PRESERVATION MODE (read cash and short term trades only)

Now comes the bad news... the next big leg down in NASDAQ after 6190... Let's hope it holds... but if it doesn't here's what we are looking at in THE SHORT TERM...  and I will update you again should this next important support FAIL... but no question about it now...Nasdaq is the index to watch, it is the BEST INSTRUMENT we have...

 

nas040420M 5200.png

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Sign up at the upper right hand corner of the page to receive updates... and if you short term trade, you need our daily and INTRADAY guidance.  These days the markets are making moves in a day that would have taken weeks or months.... your position can be wiped out in minutes... we provide rapid guidance on these big sweeping moves and outline exact price targets so you can make better decisions... We constantly update that guidance all day long these days during this time of turmoil...

 

 

 

 

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