Still a fair way fort the last bar to be complete, but, NST has already registered another LOWER LOW (LL). This is a classic Dow Theory short term downtrend. A SHORT TERM BEARISH development. in this monthly time frame. First warning came back in August, where a BEARISH SHORT TERM PIVOT POINT REVERSAL was on hand. That is where I will start my analysis, August 2016.
How does a MONTHLY BEARISH PIVOT POINT REVERSAL may be read ? The way that I read them, over the next 5-10 periods, at best, a sideways price action behaviour may be on hand. But potentially further bearish decline for 5-10 periods ( months in this case) may unfold. This said the prior BEARISH PIVOT of November 2015 has resulted in a flat correction. See the Pink trading range.
What about MEDIUM TERM TREND of NST on this monthly chart ? Still UP and STRONG.
What about it’s LONG TERM TREND ? Still UP and STRONG.
If one looks at the daily chart of NST, there is a different story on hand. I personally use the daily for entering a potential position, after a pullback, when a short term reversal is on hand. Or taking profits at or near resistance on a short term daily bearish reversal.
Are we in pursuit of capturing trends that may last from weeks to months even years or short term trading capturing short term ( hours to days) gains ? Nothing wrong with both either if one has a system of their own which reflects their time horizon and style in trading/investing in my humble opinion.
Monthly NST Chart below as at 09/10/2016.
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