Wednesday, 4 March 2015

Composite today drop off from 5000 psychological resistance but don't worry!

Dear Friends,

It is little surprise to me that nasdaq composite is heading for its all time high price of 5132 reached 15 years back in March 2000.

Price chart of nasdaq for 15 years

Of course with the breaking of the 5000 mark yesterday, traders have been a bit worried about this high price.

Price chart of nasdaq this 1 year with high price of 5008 reached yesterday

My opinion is in the short term, a correction is still not happening yet. Most probably it will happen in April or May.

Do not worry about todays 40 points drop in Nasdaq. I anticipate it to rebound back soon.

Not to forget the Apple i-watch launch soon in April. I have no qualm and doubt that this run will still continue till the launch.

Rgds
Daniel

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