Same levels as last week as price has been consolidating at the 1.272 Fib X resistance. All about the FOMC minutes and Non-Farm this week.
ECONOMIC EVENTS
MON US ISM Manufacturing
TUES US Market Closed
WED US Factory Orders, FOMC Minutes & Fed's Williams Speaks
THUR US ADP, US Trade Bal, US Initial Jobless, US S&P PMI, JOLTS & Fed's Logan spks
FRI US Unemployment Rate, US Non Farm, US Average Earnings
EARNINGS
MON Nothing Notable
TUES US Markets Closed
WED Nothing Notable
THUR Nothing Notable
FRI Nothing Notable
SUMMARY
BULLISH NOTES
BEARISH NOTES
ECONOMIC EVENTS
MON US ISM Manufacturing
TUES US Market Closed
WED US Factory Orders, FOMC Minutes & Fed's Williams Speaks
THUR US ADP, US Trade Bal, US Initial Jobless, US S&P PMI, JOLTS & Fed's Logan spks
FRI US Unemployment Rate, US Non Farm, US Average Earnings
EARNINGS
MON Nothing Notable
TUES US Markets Closed
WED Nothing Notable
THUR Nothing Notable
FRI Nothing Notable
SUMMARY
- NQ finished the week with a gain of 1.75 % after trading in a range of 504 pts.
- NQ tested the 21 ema after 5 down days but closed back at the recent high
- NQ started the week at 1.27 Fib extension resistance
- Shortened trading week with US holiday
- Mar 29th pivot high is the first upside target
- 1.13 Fib Extension and 9 ema remain first support.
- Earning season begins mid July with the big banks.
- Bullish trend remains intact above the Aug 16th high. (14246)
- FOMC Minutes and Non-Farm wrap up the shorted week.
- Buy the dip is back with ATH in play.
BULLISH NOTES
- NQ above the Aug 16th high and HTF 618 Fib RT
- EMAs are stacked.
- ATH is now in play.
- Earnings momentum will begin next week
- Potential positive reactoin to FOMC Minutes and Non-Farm Payrolls.
- TSLA and AAPL have huge whole number targets.
- Buy the dip is back in favour.
- Market breath has improved.
BEARISH NOTES
- NQ opening the week at 1.272 Fib Extension resistance
- Potential hard reversal at the Mar 29th pivot
- Stoch 5,1 is overbought.
- MEGAS are in resistance zones
- Potential shock event (War, banks, rate hikes)
- Potential negative reaction to FOMC Minutes & Non-Farm Payrolls.
- The Aug 16th high breakout point has not been re-tested yet.
- Price is stretched from the emas and 200 sma
Note
$NQ_F The 1.272 Fib X is proving to be solid resistance. Price has fallen below the daily 9 ema. Price must reclaim the 9ema for trend continuation. A failure to claim the 9 ema will mean a retest of the 21 ema is likely. Note
$NQ_F Battle royal at the daily 9 ema right now post NFP. Market undecided. Above the 9 ema is positve but can't really go hard long until above the 1.272 Fib X resistance. Bearish below the ascending trendline and the 21 ema. Below the 21 a move back to the green box is likely. 
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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.