NASDAQ Triple Top Levels

So here are a few levels to keep an eye on for a reversal.  2963 would be the first which coincides with the Fibonacci retrace and a more conservative view to a Triple Top trend line.  The second level of interest is 2884 which violates the liberal trend line view for the triple top scenario.  As always try not to get sucked up into the emotion of it and place your stops and stick with your plan.

You Shall Not Pass 2963

NASDAQ needs to hold 2963 lest we slip into an itchy Bear suit

NASDAQ, you're no Evening Star!

Today's Price action nixed the Evening star pattern so it looks like Forest may have a little left in him.   It would still be a good idea to keep an eye on the possible triple top though.

Like Forest the NASDAQ seems tired

When looking at the NASDAQ on the weekly charts we can see that two peaks have formed and a Doji has formed from last week on what can be the third peak of a "Triple Top Reversal" pattern.  What may give this some credence is that darned Doji from last week may be forming an "Evening Star" in candlestick speak which normally has a high reliability of coming to pass.  We will have to wait until this week is over before we  can start running around in circles though.  The market has made an incredible "Coast to Coast"  run of slightly over 14% since the beginning of  this rally.  If you still have any longs left just respect the stops you have set and as far as starting  anything new, well... the MACD and RSI don't seem that bad but just remember plan your trade and trade your plan.