The NASDAQ has finally printed a monthly close above the key 4,800 level. It is my thesis that this monthly close above 4,800 will trigger a bullish ascending triangle breakout similar to those already seen on the S&P500 and DJIA. This bullish close may now enable numerous trading opportunities on a range of NASDAQ stocks.

There are a few global stock indices and ETFs threatening to break up through major resistance levels this month to trigger bullish breakout moves. These are worth watching after Friday’s close to see whether they can initiate such a move.

The NASDAQ has held above the key 4,800 level for two weeks now and, although the monthly candle doesn’t close until next week, a February close above 4,800 is looking quite likely. A monthly close above 4,800 will be significant and may enable numerous trading opportunities on NASDAQ stocks so watch for the candle close next week BUT […]

The set up on the Hong Kong Hang Seng Index is looking rather similar to how the ASX-200 appeared prior to the recent Aussie index breakout. 

The USD is a bit weaker but continuing risk appetite and buoyant stocks seem to be dragging the Yen pairs along for the ride.