NQ Power Range Report with FIB Ext - 5/15/2024 SessionCME_MINI:NQM2024
- PR High: 18427.00
- PR Low: 18402.00
- NZ Spread: 56.0
Key economic calendar events
08:30 | CPI (3x)
- Retail Sales (2x)
10:30 | Crude Oil Inventories
AMP temp margin req increase for expected vol spike, pre-RTH
- Prev session ad for rollover short turned into liquidity for new week highs
- Holding prev session highs below the close
- Daily print showing momentum on return to March, early April range
Evening Stats (As of 12:05 AM)
- Weekend Gap: N/A
- Gap 10/30 +0.47% (open < 14272)
- Session Open ATR: 247.17
- Volume: 17K
- Open Int: 245K
- Trend Grade: Bull
- From BA ATH: -1.4% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 18675
- Mid: 18106
- Short: 16963
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Falsebreakdown
SPX: Volatile? Yes. Scary? No.Hello traders and investors! The SPX did exactly as we planned in our last analysis, and now we are just bouncing back up again. The link to my previous public analysis is below this post, as usual.
We are in a strong bullish momentum, but hardly it’ll keep going up without a pullback , and the 21 ema is there to support the price, along with the 4,322.
The index did fill its previous gap at 4,322 as we expected, since we lost the red line at 4,366 , and we did a sharper pullback seen in the daily chart as well.
Yes, the SPX hit our mid-term target at the black line around 4,289, and it did what seems to be a false breakdown , which happens when the price closes under the previous support, but the next day it quickly recovers, and closes above the support line again.
This situation is very frustrating for the bears, as it shows a lot of weakness on their part. The index couldn’t even retest its purple trendline yet (last time we touched it was in March).
As usual, all we can assume is that the index will continue its bullish momentum. However, if the index loses the 4,289 again then I’ll be more convinced of a sharper pullback to its trendline, or to the previous support at 4,167. But this is a big “if”. For now, let’s not assume things, and just react to the facts.
If you liked this analysis, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped you!
Thank you very much!
BBAR Technical Analysis 🧙Banco BBVA Argentina SA is a banking services provider in Argentina. It provides financial assistance to large corporations, small and medium-sized companies, as well as individuals. The bank provides services through retail, corporate, investment banking, and Small and medium-sized companies divisions. Through the retail banking segment, it provides banking products and services to individuals, corporate banking deals with services to corporates, the small and medium-sized companies segment focused on foreign trade, agricultural business, and digital products. The company's geographical segments are Spain, the United States, Mexico, Turkey, South America, and the Rest of Eurasia.
If you understand the idea,🎯 press a thumb up! 👍 Have a question? Don't be shy to ask! 🤓 Interested to study how to analyze charts, follow me!
DSS Technical Analysis 🧙Document Security Systems Inc operates in the security and commercial printing, packaging and plastic ID markets. The company develops, markets, manufactures and sells paper and plastic products designed to protect valuable information from unauthorized scanning, copying, and digital imaging. It is organized into the operating segments of Packaging and Printing; Plastics; Digital; Technology management; and Corporate. The Packaging and Printing, and Plastics segments, which are the key revenue-generating segments, are engaged in the printing and production of paper, cardboard and plastic documents with a wide range of features designed for the protection of documents against unauthorized duplication and altering.
If you understand the idea,🎯 press a thumb up! 👍 Have a question? Don't be shy to ask! 🤓 Interested to study how to analyze charts, follow me!