Short

NASDAQ - Levels to Watch!!

Updated

is starting to look nice with some levels to watch in the coming weeks. Tech has had a big run off lows this year after getting beaten down last year.
Bullish Scenario sees an ABCD down to the 12k area then the next leg up.
There are still unfinished patterns down below 10k to complete but it can go higher first.

On a shorter TF look for an ABCD PB to get short.

I hope this helps. Enjoy the Day!!

Note

We have hit the 382 area with the ABCD @ 12065. It needs to hold this area to stay on the Bullish side. We now watch the retracement if it comes. It will give us the clues as to where its going next. A slow move up from here over the next week will tell us its not that strong and there could be more selling coming.

Note

We have held the 382 level and had a bounce late in the day. Now looking for a PB to go long. A move to 12300 will give us some clues as to where its headed next.

Note

A move back to the 382 sets up the ABCD to 12300. But ideally a move to 12100 could see it go higher. ABCD is the key.

Note

After yesterdays spike lower to make a new low and then a decent rally at the end of the day I now think the temp low is in and there is an opportunity for a short term move higher towards 12300 or higher. Friday is generally a bullish day so we can use that for a trade set up.

Trade active

Long Trade Triggered.

Trade closed: stop reached

That one didnt hold but now we are coming into some key support after some choppy action.

Note

We are now looking at some key support around the 11800 area where there are multiple patterns and Fib levels lining up. If we are in a Bear market then Thursday should be an up day. If we break these levels then there are bigger targets lower.
One day at a time.

Note

Intraday AI Time points to watch for reversals.

Note

Running nicely today. Looking for the CIT Window around 3hrs before the close. If the market is up then we look for a weak close and if its down then we look for a rally.

Enjoy the day

Note

We have bounced out of that 11800 level over the last 2 days. Now it has started on the move up towards what could be 14k completing the upside pattern.
We now look for a retracement to get long once this current run tops.

Note

We have got the high in the 50-61.8% area now watching for a retracement for the next leg higher.

Note

Looking like a possible deeper correction or even worse if we have a bad Friday. The Banks took a beating yesterday and with NFP this evening volatility will be raised.
We are at the 78% from the previous high/Low if it fails here then the next level is down around 11400.
If it gets lower than 11k then we could see the 10k targets.

Note

15min Chart. Looking for a bounce today to sell. But if it keeps dropping then watch out for Monday.

Note

2nd March low taken out. This should lead us to the 11400 area but due to the speed it could get there quicker and possibly go lower. Big day Monday.

Note

Nasdaq didnt quite hit the target levels like the S&P & DOW did but like the others now looking for a rally to short. Any break down of yesterdays lows could spell trouble. Banks still falling apart. We have CPI Data this evening before the US Open so that will be a good sign of things to come.

Note

Didn't quite get to the buy target, but it rallied into the sell area where it had a small sell off but regained the level later in the day.
The new ABCD target is at 12300 with the 78% level from the 7th high. Support on 12300 would see it headed higher towards 13k.
Another day of data ahead.

Note

Pattern we were looking for earlier is complete but if the other Indices have one more rally then we could see a higher target around 12500.

Note

NASDAQ on Friday rallied through the expected target areas to the 2 Standard Deviation level then closed weak. Now we wait for the patterns to show us if its going to continue in a bullish fashion.
There are the first two levels of support but if it starts getting lower than that then we will look for other lower targets.
There is a lot of data out this week with the big data point being US Interest rates on Wednesday.

Big week ahead. Enjoy the Trade.

Note

A gap up this morning to create a Gartley sell signal.

Note

After yesterdays rally in the DOW and the S&P, The NASDAQ didn't do a lot but is setting up for one more move lower to line up with corrections in S&P & DOW.
Target is 12300 if it breaks below 12500. Patience is required to see what set up we get and we also have the US FED Interest rate tomorrow.
Enjoy the day.

Note

A lot of levels to watch this week. They are all still Bullish areas to watch. It all depends on what sort of correction we get. Its currently in a 135 pattern which will see it headed lower. A break above 12913 will change things, so at this stage we will wait to see what comes up.
A quiet week on the data front with US GDP on Thursday. I will update if anything presents itself.
Enjoy the week.

Note

We didn't quite finish the pattern which is Bullish. Now we wait for a top to come in and watch for an ABCD PB to get long. That rally should take it above 13k again.

Interesting session ahead.

Note

A quick update on the Nasdaq here. So far no Retracement but we are now looking at an area where we could see a reversal. The end of the day will be critical to where we start next week. A weak close could lead into a sell off next week.
There are a couple of cash market gaps to fill from these last few days.

Enjoy the rest of the day.

Note

Still waiting for a top to come in. 🙄🙄 Some levels to watch. Quiet in the Europe session, waiting for US Data later just after the open.

Note

Not a lot of action in the NASDAQ yesterday. Still looking for some sort of retracement to give us a clue of the next level. We will either have a small correction from here or we might get one more move up to 13300 before a move back to the 13k area. See what today brings. No data today to shake things up.
Enjoy the day. 👍👍

Note

We got the PB we were looking for now we watch this rally to see if there will be a deeper correction or we are on the way to 14k. A key couple of days ahead. Short week with Good Friday, But NFP will throw things around.

Enjoy the day.

Note

Now we got the retracement we were looking for now the next move will be key either way. There could be one more move lower before the next move higher. We will need to see what Monday brings to get an idea. As it stands now it could be either way. But come Tuesday morning NY time this could be a major turn either way. If we are lower then it could be a rally into the rest of the week or if its higher then we could see a major turn point not just for the week but maybe longer. I will post some tech stocks that are getting near turn points as well..

Either way have a great week and enjoy the trade.

Note

Intra-Day moment of truth. If it holds this level then it could go higher but with the other indices breaking down I think it might be headed lower to the ABCD target area.

Note

Nasdaq got a bit ugly yesterday after not quite reaching the downside ABCD Target. But then had a strong rally. Im now undecided either way so I have to wait for the next move. Support on 13k would see a move higher, otherwise we could see another move lower. Its not wanting to break yet. Retail Sales out before the open and we also have the start of earnings season with JPM, JPM, C & Blackrock reporting before the open. Interesting day ahead.

Note

Still looking for the upside targets but the last couple of weeks have been ugly. Still waiting for a decent pattern to complete to go either way.

Note

Still have a chance at one more move down but looking less likely now with the Thursday/Friday rally. Monday will be key to where we are heading next. Its been an ugly couple of weeks for the NASDAQ.

Note

Still in a world of ugliness.. But within that there are a couple of paths for it to follow. While we are above 13k the short term upside target is 13300 and below 13k sees a move back down to the 12750 area to complete the downside pattern.
I hope this helps. Enjoy the day.

Note

Just a quick update on the options in play. We havent taken out the April high yet so there is still a chance of getting back down to 12800 before continuing higher.
Its at the key 50-61.8% area now so the open will be key to where we go today.
There is also TSLA earnings after the close which will move things around.
Enjoy the day. Hopefully we can clear the ugliness shortly.
There is also a major planetary event over the next couple of days which could spell a CIT.

Note

Still looking for lower levels with a 135 pattern overnight. Now there are lower levels of 12900 to complete the smaller Gartley pattern @ the 78% level. Then the bigger pattern we have been watching at 12800.
Big Friday ahead. Also watching the planetary events going into the weekend.

Happy Friyay!!

Note

CIT Times for later today.

Note

We got the rally out of the Double ABCD level @ 12900. Now if its going to be bullish it needs to hold a PB to 12950 to stay bullish. Otherwise the 12800 bigger ABCD pattern comes into play.
This whole April sideways move is a big correction meaning that the April high should be taken out. It just depends when this correction finishes.

Enjoy the week. Updates as we go along.

Note

Monday morning update. Looks like its heading down to the 12950 area to complete the pattern. This level is critical to the bullish side of things. If it starts breaking lower then we start looking at different levels.

Note

A nice rally from the 12900 area yesterday but once again it failed. Here we are again but this time I dont think it will hold which could see it heading lower to the next level @ 12800. Either way its flat out ugly.
There are earnings from MSFT, GOOG & V after the market closes tonight this might give us a direction to trade.
Enjoy the day.

Note

I think after a month of choppy and at times plain ugly moves, Wednesday saw it break down below the 12800 Pattern completion area.
From that low and proceeding rally we got the support on 12800 to start the move higher.
Thursday & Friday started what im thinking could be the move towards the higher targets that have been there for a while.
13300 is the first level to watch which is the 1.618% Ext level from the Oct low to the Dec high. This should stop this current run and set up the next move higher on a retracement back towards 13000-13100.
Another big week for Earnings with #AAPL Thursday after the close. After most of the big tech stocks reported good earnings last week and moved higher we will probably see this continue.

Enjoy the week.

Note

Longer term targets. But as always keep stops in and dont risk too much as we are one bit of bad news away from a Sell off.

Note

NASDAQ is a little uglier than the other Indices so it still has 2 possible paths with one more move higher to complete this run up or its started already.
If it gets above 13280 then we will likely see 13350 before the correction starts.
Otherwise a move down to 1300-13100 for this correction and then looking for the next move higher.

Enjoy the day. And dont forget US Interest Rates Wednesday and NFP Friday so anything is possible.

Note

After the sell off from the 61.8% level yesterday, we are now in the next zone between 13000-13100. This could both bullish and bearish. There is the Interest rate decision out of the US tonight and this will move things along in either direction.
When things are uncertain its best to step aside wait for the fireworks to happen then go from there.

Enjoy the day.

Note

After the FED action yesterday we now have a bit of clarity. It held the 13k support level which completed a nice Gartley pattern at the 61.8% level.
Now we watch the 13140-13180 area with current ABCD target @ 13151. This is the area it can fail from and take the bearish option below 13k. If it breaks through here and takes out yesterdays high at 13237 then we start looking at the bigger targets that have been there for a while.
After the US close today we have the big Earnings call for AAPL.
AAPL has completed a major pattern as well and is off about $3 on yesterdays trading. Another big day ahead with NFP tomorrow.
Enjoy the day. 👍👍

Note

AAPL as it stands with the sell off yesterday and is off another $2 in after hours trading.

Note

Hi Guys, Ive been away for a couple of days but the upside is still the way to go.
In yesterdays action we took out last weeks high which gives more reason to think there is more upside coming.
I think we are close to a temp top in this run so now looking for a retracement back down to 13100-13165. If its really bullish then the 382 is all we will get but it could drop down to the 61.8% level around 13080.
If you are long and wanted to take some profit and wait for a PB then this is the place to do it. Otherwise hold tight.
More updates coming as we go along.
Enjoy the week.

Note

Important update. We now have 3 patterns completing at the 13500 area. This should provide a big area of resistance. So if you are long then you need to maybe look at taking some profits and see how it reacts. The rally is starting to slow down and the retracements are getting deeper, so this is why we need to be careful.

I hope this helps. Enjoy the week.

Note

The other smaller ABCD Patterns leading into the 13500 area.

Note

After only having a small correction from the 13500 area, it has now taken out all the possible levels of resistance leaving a fairly clear path to the 14k level we have been looking for.

Note

The ABCD Pattern was completed on Friday from the Dec 2022 Low. Friday was a high volume reversal day and generally speaking if Friday is down then you are likely to see more of the same on Monday. This could give us a retracement back down towards 13300-13500 but then I would expect a move higher again to the double FIB Levels around 14300.
So a big week ahead once again. Monday is the key to set up the week. I will post updates as it goes along.
Enjoy the week. 👍👍

Note

Sorry I haven't updated over the last couple of weeks, I've been back home for a bit.
I have gone back to the longer TF to have a look at where we are at now as its blown through the 14k level.
Its now above the 61.8% level from the ATH. last night it hit and reversed from the 1.27% ext level from the Aug 2022 high completing the Butterfly pattern.
For the Bullish scenario to continue a retracement back down to 14k would set up the next buy signal. There is also a chance for the correction to copy the last one from Feb this year taking us down to 13500 and the 382 from the March low.
Plenty to watch for, I will post shorter term updates later on.

Enjoy the week. Time for a breather in this market??

Note

After making a marginal new high on this run Friday we now look to a possible PB. Ideal scenario would be a retest of 14k then look for the next move towards 15000-15300. See what Monday brings and go from there.

Enjoy the week.

Note

Ive gone back to the longer term chart to check out some of the levels coming up. It passed through the 15k level but is now below it. Its up over 2000 points in the last 6 weeks and is due a retracement. A bullish Ret would see it just make the 382 at around 14200 but if it matches the Feb high to the March low then it could come as deep as 13800.
We are coming into a major yearly CIT window tomorrow to last over the weekend so there might be a trigger for a move down.
Ultimately I think there is room to get 15500-15800 before something serious. This weekend hold the key.

Enjoy the day. Updates coming over the next few days.

Note

After completing the move to 15300 extension on Friday the Nasdaq is starting to move lower. Watching 15k to see if it holds.
ideal scenario would see it get back down towards 14300 or even 14k before the final push towards 15500-15750.
US Cash Markets are closed today so things have just drifted. We will see what happens tomorrow.
More updates coming. Enjoy the week.

Note

After the high 10 days ago we have had an uneventful correction which could be coming to an end and it starts heading higher again. So far there is nothing in this move that has said that we had a major top in place. We are coming into major fib levels from the previous 2 lows. Keep an eye on these levels.

Note

A bit of an Intra-day looks at the Nasdaq today as we are back at the 15k level again. If we are going to get down towards those lower levels looked at earlier it needs to have a decent drop today or once again the correction could be over. If it goes higher and finds support on 15k then this will be the case. S&P500 & The DOW are at key retracement levels as well looking for moves lower.
Friday is generally a bullish day but if we do get the selling come in then Monday might follow through opening up those lower 14k levels we are looking for.

Enjoy the Day.

Note

This is what the bullish alternative would look like.

Note

Still no decent retracement, so it looks as though its headed towards the 15650 area where we might get a decent retracement but then ultimately we might be looking at more up side. We will get this first move done first then start looking at levels to watch.

Enjoy the week. I will post updates as we go.

Note

Not much has changed since the last post. 15k is the key level now. Support here will see the last move towards 15650 before a deeper correction. Otherwise if 15k becomes resistance then we should see that move down to 14k before starting higher again.

just a quick update today. Enjoy the week.

Note

Hi Guys, We are at a critical level in the NASDAQ today. After just missing the Buy point at 14926 a couple of days ago. Its now rallied into a double Fib level with an ABCD completing a 135 pattern from the previous 2 tops.
If it gets above the 15230 area which is the July 7th high then its wrong and we will be looking towards the 15500 area to complete the bigger pattern.
There is US CPI Data out just before the US open today as well. With Inflation looking to be lower again this could be a catalyst for higher prices. But a miss and slightly higher Inflation could see a sell off in the Markets.

Enjoy the day.

Note

After the 135 Pattern failed it was practically a straight line finishing just above 15700 on Friday before a weak close. The question is are we at a significant top or are we just going to get a PB then continue higher? If we get a similar PB to the last one then 15400 will be the area to watch. There is also a chance for one more move up to 15800 before there is a real correction. Monday will give us the clues to fill in the spaces either way.

Enjoy the week.

Note

After I thought Fridays high might be it for a while this thing just keeps going higher. Hard to believe but only 7% from the ATH.
There is still a chance of getting to the major number of 15800 before we see a correction. On a yearly timeframe today is a major turn point so we will wait to see how this plays out. There is also the start of earnings season with TSLA & NFLX reporting after the close which will cause some volatility either way.

Enjoy the day and get ready for some fireworks!!

Note

15800 is the key level a rally back up in an ABCD will set up a sell order..
Enjoy the day. Could we possibly have a down day.. Probably not..

Note

After taking a bit of a breather with some of the big Tech stocks like TSLA, NFLX & MSFT dropping on earnings we are now coming into a FED Interest rate decision with an expected raise that could put a halt to proceedings for a day or 2. Overall I still think we are going higher but we just need a correction first. Big evening ahead enjoy the fireworks and we will see where we are tomorrow.

L_F

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.