Market Winning Trade Set-Ups for 08/26/2015


Pair: NAS100
Closing Price: 4215.00
Entry Order: BUY stop @ 4233.00
Stop loss: 4150.00
Take profit: 4385.00

Analysis: On July 26, based on my analysis of a negative price action “reverse wedge triangle”, I posted a Special Video Report entitled, “Ominous Technical Warning Signs in the Stock Market”. At the time, I recommended a SHORT trade in the NAS100 at 4556. Also in my report, I said if the NAS100 Index were to fall to the 4300 level, the next likely target would be the 3,900 price level. Two days ago the NAS100 hit that number basically on the nose (3902). The good news (for long stock market) investors is that downward breakouts of the “reverse wedge triangle” price pattern has a large failure rate. Therefore my expectation, following this week’s large sell-off, is for the NAS100 to rebound on the buy-side. )Final confirmation of a “busted” price pattern of the “reverse wedge triangle” won’t come until penetration of the horizontal line at about the 4325 level. However, based on today’s massive key reversal price action, I am looking to get a jump on the (potential) market rebound.