Monday, September 7, 2015
KOSPI South Korea Daily Chart Death Cross Chart Pattern COMPQ Nasdaq Composite Daily Chart Teasing a Death Cross
Korean stocks, the KOSPI, print the latest death cross. A death cross occurs when the 50-day moving average stabs down through the 200-day MA. Weakness in the index or stock will continue for weeks to come as long as the death cross remains. The SPX, INDU, RUT, AAPL and DAX are all in death cross chart patterns. Watch the Nasdaq Composite, COMPQ, trying to fight off the chart pattern since a death cross in tech and biotech stocks would be the final death nail in the coffin of markets.
For now, the Nazzy remains in the golden cross chart pattern (50-day MA above the 200-day MA) forecasting bullish markets ahead. The 50, however, is descending fast as the chart illustrates and the COMPQ may create a death cross any time from 9/18/15 into the end of the month. Will the 'FAANG' stocks (FB, AAPL, AMZN, NFLX, GOOGL) save the day for the Nasdaq and the stock market? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.