TCI Trading Signals and the NASDAQ Composite Analysis for May 2014
“Cash will be king again, it always becomes king at the end”
This TCI analysis concerns the Nasdaq Composite Index. We are going to investigate Nasdaq Composite and forecast its course for the upcoming years. But before investigating further Nasdaq Composite let’s evaluate our previous TCI signal on GBPUSD.
Previous TCI Forex Trading Signal
In our previous trading signal published on April, 28th we have forecasted an uptrend for the British Pound against the US Dollar using the TCI model.
“TCI is a technical analysis model developed 100% in-house by TradingCenter.org”
By that time GBPUSD was traded at 1.6845. Our target price for GBPUSD was set at 1.7000 while we have indicated the 6th of May as the selling target date. After the 6th of May we have forecasted a correction as you may see in the main article and in the TCI table presented on that report. Actually, GBPUSD reached 1.6956 during the 6th of May 2014. After that date a strong correction started, as we have forecasted, which led GBPUSD to 1.6730 (14th of May). Now GBPUSD is traded at about 1.6820. Although the 1.7000 levels were reached but not exactly met the GBPUSD TCI signal was confirmed.
TCI Indications on Nasdaq Composite for May 2014
As we have mentioned in the past the real power of TCI is its ability to forecast the time pattern. By using the TCI-Short Model (TCI v1.2) we are going to forecast the course of Nasdaq Composite for May 2014. TCI indicates a short-term upcoming bullish market for Nasdaq ending on the 27th of May 2014.
■ Selling Target: 27th of May 2014