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

  • 04/15/2024

    Good Day, You can read about anything you want to read about the current market. If you have a certain point of view you can find an article to assuage your feelings. It’s nice to feel good, but that kind of feel good doesn’t necessarily make you money. Just because you can find someone who…

  • 04/07/25

    Good Morning, I hate writing about things like this. Nobody really wants to hear it but it’s something that must be done. Are my message boards flooded? Oh yeah. You’ve got the combination of an unprecedented global event coupled with the fact that a lot of folks that are trading now never experienced a market…

  • 03/31/25

    Good Morning, Well where do I start? Someone asked me  if I was comfortable with my position in the market. I’m never comfortable when the market is volatile. It’s a difficult market to trade. If you watch it day my day then you’ll feel like your wrong about half the time. In the past when…