Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Which Way Wednesday – S&P 4,200, Nasdaq 13,000, Russell 1,900, Dow 33,500

Lots of critical levels to test . We are back to using our 20% Bounce Lines, which have been a great guide all year for where we expect support and resistance using our fabulous 5% Rule™ and there's a lot of red on the board – especially the Nasdaq already below its base – which iindicates we may be consolidating for a move another 10-20% lower.  Fortunately the Dow still has about 5% to fall before it's really in danger but any break below 31,680 will likely mean it's time to go to a lower-zone chart.    Dow 36,000 to 28,800 would be a 7,200-point drop with 1,440 bounces to  30,240  (weak) and  31,680  (strong).    S&P 4,800 is 20% above 4,000 and that makes it an 800-point drop with 160-point bounces so  4,160  (weak) and  4,320  (strong). Nasdaq is using  13,500  as the base.   14,100  is the weak bounce and  14,700  is strong.   Russell 1,600, would be about an 800-point drop with 160-point bounces to  1,760  (weak) and  1,920  (strong) …

Lots of critical levels to test.

We are back to using our 20% Bounce Lines, which have been a great guide all year for where we expect support and resistance using our fabulous 5% Rule™ and there's a lot of red on the board – especially the Nasdaq already below its base – which iindicates we may be consolidating for a move another 10-20% lower.  Fortunately the Dow still has about 5% to fall before it's really in danger but any break below 31,680 will likely mean it's time to go to a lower-zone chart.  

  • Dow 36,000 to 28,800 would be a 7,200-point drop with 1,440 bounces to 30,240 (weak) and 31,680 (strong).   
  • S&P 4,800 is 20% above 4,000 and that makes it an 800-point drop with 160-point bounces so 4,160 (weak) and 4,320 (strong).
  • Nasdaq is using 13,500 as the base.  14,100 is the weak bounce and 14,700 is strong.  
  • Russell 1,600, would be about an 800-point drop with 160-point bounces to 1,760 (weak) and 1,920 (strong)


continue reading

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.