{"id":6790,"date":"2023-10-24T09:49:05","date_gmt":"2023-10-24T14:49:05","guid":{"rendered":"http:\/\/www.newlonkong.com\/English\/?p=6790"},"modified":"2023-11-01T19:35:27","modified_gmt":"2023-11-02T00:35:27","slug":"pattern-trend-reversal-continued","status":"publish","type":"post","link":"https:\/\/www.newlonkong.com\/English\/pattern-trend-reversal-continued\/","title":{"rendered":"Pattern trend reversal — continued"},"content":{"rendered":"

Case Study 7       <\/strong><\/span><\/h2>\n

2023.10.24 22:48 pm Hong Kong time. <\/p>\n

The key here is that this is NOT a similar trend reversal, as the Nasdaq index has NOT been rising Continuously for a long time and then fall a short time, then to reverse the trend.  It has been up and then down (not continuously up) from July to now ! So it does not confirm a trend reversal by Oct. 26. <\/p>\n

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Nasdaq (and almost all markets) have been dropping over the past weeks, until yesterday, the short 8-day chart looks like below, and showing a reversal signal:<\/p>\n

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So I bought 2 longs as the 2 blue triangles shown in the graph . <\/p>\n

One day later , the chart looks like this (hours before market is open):<\/p>\n

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After the market is open, the market jumps and drops :<\/p>\n

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Now at 22:54 pm Hong Kong time on 2023.10.24, the market has been open for almost 90 minutes:<\/p>\n

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The market looks like the following in wider ranges:<\/p>\n

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It is now the morning in Hong Kong: 8:12 am Oct. 25, 2023, the 5-day Nasdaq chart looks like this: <\/p>\n

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After the market opens today, the market dropped a lot due to Google quarterly report, as shown below:<\/p>\n

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It seems the pattern reversal is not confirmed so far. <\/p>\n

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Now it is Oct. 26, 2023 noon in Hong Kong, the nasdaq chart looks like below.  A reversal must wait for the prices to continue rising to confirm. <\/p>\n

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Today is 2023.10.28 Morning in Hong Kong,  Nasdaq closed a bit up overnight, ending the week as below:<\/p>\n

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Today is 2023.11.02 , Hong Kong time,  2023.11.01 in the US, 8:12 am.  The markets have been rising and rose strongly last night after FED meeting, as shown below in the 8-day chart, it recovers almost all the loses in the past 8 days: <\/p>\n

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Its 16-day chart looks like this, is it confirmed of pattern reversal ?<\/p>\n

30-day chart looks like: <\/p>\n

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Technical charts are shown below:<\/p>\n

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Technical Points (full 100) Long = -7; Short = 1; Long\/Short = -7.3;<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Case Study 7        2023.10.24 22:48 pm Hong Kong time.  The key here is that this is NOT a similar trend reversal, as the Nasdaq index has NOT been rising Continuously for a long time and then fall…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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