NASDAQ closing in on 4,800.

I have been stalking and trading the NASDAQ and its stocks for some time now but wrote my first dedicated write up on them back in September this year. I have been noting the key level for this index is the 4,800 level and price seems to be closing in on that level. The monthly candle closes at the end of this week and this level will be eyed carefully then.

NASDAQ monthly: any bullish breakout above 4,800 suggests a move up to 8,400, according to triangle breakout theory:

NASDAQmonthly

NASDAQ weekly:

NASDAQweekly

NASDAQ daily:

NASDAQ

The S&P500 has already made a bullish triangle breakout and so it wouldn't be too surprising to see the NASDAQ follow suit:

S&Pmonthly

A number of NASDAQ stocks are closing in on key S/R levels and this is generating great trading opportunity here. Traders need to watch these stocks as they approach these potential breakout levels, especially at the end of this week when the monthly candles will close:

QQQ: the NASDAQ ETF looks like it is headed towards 120:

QQQmonthly

MU: any close and hold above $35 would suggest continuation:

MUmonthly

AMZN monthly: a Bull Flag looks to be starting here:

AMZNweekly

AMZN daily: watch AMZN for the Flag break and, then, for any close above $340 to suggest continuation:

AMZN

EBAY: looks set to take on $60:

EBAYweekly

INTC: a monthly close above $35 would be very bullish:

INTCmonthly

MSFT: the $37 break is long gone here now!

MSFTmonthly

AAPL: this is on the way to $140:

aaplweekly

AMAT: any monthly close above $24 would be bullish here too:

AMATmonthly

CSCO: a monthly trend line break would be bullish enough BUT any close and hold above $30 would add support:

CSCOmonthly

GE: a monthly triangle breakout would be bullish here too BUT any close and hold above $30 would add support:

GEmonthly

NTAP: watch for any triangle breakout:

NTAPmonthly

YHOO: $40 is long gone but the next key level looks to be $60 and I suspect this is headed there now:

YHOOmonthly