08/19/2020 – Another Blog From Wayne!!

Good Afternoon, This afternoon we will be focusing on the Nasdaq ($COMPQ) and the Philladaphia Semiconductor Index (SOXX). They give us some additional insight into current market conditions. Lets start with a chart!

Above is the Nasdaq market breather indicators. So far the indicators are still healthy, not extreme.

Next 3 weeks we will have pressure from the reversal line on the top. Any technical pullback should be healthy and normal. If the support doesn’t break, it will stay bullish and continue higher to the expected value of 11500 to 12400. We will see how it goes in September.
Please don’t blame me, but next time I may have to hand draw whatever can save more time. These annotations can be time consuming!  : )))
Above is the Nasdaq GMMA  & Sequence-of-Nine chart, it is still bullish.
Both DMI and MTM are resonating and continue positive.

Above is the Philladaphia Semiconductor (SOXX) index GMMA  & Sequence-of-Nine chart, they are still bullish.
Both DMI and MTM are resonating and continue positive. Today the S&P 500 and NASDAQ reached their all-time-high, so it’s wave pattern must be changed.
Dow Jones’s expected value will be: 28300 + 29400
SOXX index’s expected value will be: 2288 + 2482
So far we are still in bull market. So the best thing you can do is buy stocks like AAPL, NVDA, TSLA, TSM, AMD, MSFT, or WFH .etc. Those are the type of stocks that really seem to be working well right now.

The performance of NASDAQ and SOXX, are helping to push S&P 500 index higher.

Back in 2000 dot com bubble, the S&P 500 was around 1200-1350. Now S&P 500 is all time high around 3390. We should not be  surprised to see it reach 7000 – 10000 in next 10-15 years…

Hope this analysis can help reference your TSP : )

May God Bless,

Wayne



Written By

Scott Grimes

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