NASDAQ IS KEY
February 9, 2007 (FinancialWire) (By Frank Kollar)
The bears and short sellers are beginning to second-guess themselves and the bulls are buying every dip. Over the past two weeks small caps have been extremely strong and the Russell 2000 Index (RUT) has finally broken out to new rally highs. But the Nasdaq Composite Index (COMPQ) and tech heavy Nasdaq 100 Index (NDX) are key. Both are about 2% below their brief rally highs of three weeks ago. The Nasdaq must break out in coming days!
The rest of the indexes are strong. The S&P 500 Index (SPX) has been strong since early summer 2006 with nary a correction for seven months. The NYSE advance decline line is at new highs.
The Nasdaq indices are the only ones to lag. If the Nasdaq Composite Index closes above 2503 in coming days, and the Nasdaq 100 Index closes above 1845, look for a new break out rally across the board for the stock market. If they fail here, we could be in for a long winter regardless of what the groundhog said this Tuesday.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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