NASDAQ Potential to Outperform 1st quarter of 2017
Nasdaq futures have trailed both the SP500 & DOW since last quarter of 2016. Even the Russell 2000
have gotten the better move ahead of it. But finally it caught up with Tech stocks delivering the
goods as we are near the closing of the first trading month of January 2017.
Based on our recent analysis mid-way through the DOW's breaking 20k, the last major component in the mix that we had been waiting for and believe have triggered the momentum came from the alignment of the three (3) e-mini futures when the Nasdaq futures broke the 5k a week earlier that drove us to vividly expect a major move in the making. The conclusive evidence that indeed proved to be true came about after a week when the rally above the 20k materialized at the opening US session.
With that said, tech stocks such as Microsoft, Google and FB are so far three of the best we have followed & delivered for the last quarter of 2016 and until today, as selected carry-over stocks-for-keeps are in place. Although, FB is trailing behind Alphabet & Microsoft in their price levels it would take awhile to break its challenging resistance. However, Alphabet would attempt a considerable price target 1000 within this 1st quarter period. However, there would be daily session declines that would be a convincing bearish outlook along the way. Meanwhile, Microsoft's break-out of the USD60.00 level is quite encouraging. Notwithstanding that a probable pullack scenario can occur in the near term with an initial objective @70-75.00 extensions for the
quarter period. Tech stocks would lead the market this 1st quarter with some resiliency of a possible corrective phase seen towards the month of March & first two weeks of April.
Quite a daring market call not unless some unsuspecting catalyst may prove otherwise. And a consolidation period that may extend the price objective relative to the Nasdaq Index would simply derail a transition well within the first quarter of 2017 or at the most a better part of the 2nd quarter.
Cloud Chart on Microsoft (MSFT)
Cloud Chart Alphabet (Goog)
Cloud Chart on Facebook
Cloud Chart on NASDAQ
Cloud Chart EMini NQ100
have gotten the better move ahead of it. But finally it caught up with Tech stocks delivering the
goods as we are near the closing of the first trading month of January 2017.
Based on our recent analysis mid-way through the DOW's breaking 20k, the last major component in the mix that we had been waiting for and believe have triggered the momentum came from the alignment of the three (3) e-mini futures when the Nasdaq futures broke the 5k a week earlier that drove us to vividly expect a major move in the making. The conclusive evidence that indeed proved to be true came about after a week when the rally above the 20k materialized at the opening US session.
With that said, tech stocks such as Microsoft, Google and FB are so far three of the best we have followed & delivered for the last quarter of 2016 and until today, as selected carry-over stocks-for-keeps are in place. Although, FB is trailing behind Alphabet & Microsoft in their price levels it would take awhile to break its challenging resistance. However, Alphabet would attempt a considerable price target 1000 within this 1st quarter period. However, there would be daily session declines that would be a convincing bearish outlook along the way. Meanwhile, Microsoft's break-out of the USD60.00 level is quite encouraging. Notwithstanding that a probable pullack scenario can occur in the near term with an initial objective @70-75.00 extensions for the
quarter period. Tech stocks would lead the market this 1st quarter with some resiliency of a possible corrective phase seen towards the month of March & first two weeks of April.
Quite a daring market call not unless some unsuspecting catalyst may prove otherwise. And a consolidation period that may extend the price objective relative to the Nasdaq Index would simply derail a transition well within the first quarter of 2017 or at the most a better part of the 2nd quarter.
Cloud Chart on Microsoft (MSFT)
Cloud Chart Alphabet (Goog)
Cloud Chart on Facebook
Cloud Chart on NASDAQ
Cloud Chart EMini NQ100
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