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Mnq

QQQs @ 386 and NQ Equivalent Highs aheadThe Chart illustrates both the potential Target for the QQQs high from a positive Draw as well as the convergence from the Negative draw. Where would this leave the NQ? 15,755 ~ Something to consider as the prior Squeeze ahead of the Algo's level for Sell Scale to Open began a 500 point vertical move @ 4:02PM EST. It created the largest Gap and Trap in Globex History. And it promptly sold off off that evening and into the following session and continued down significantly. History will repeat, this is my sell level for NQ/MNQ - We will be scaling in from 15,500 to the target.
NASDAQ:QQQ
by HK_L61
Macro Perspective - TechnologyAn increasing level of concern is rising within the Bond, Equity and Real Estate Complexes or Markets. I prefer Complex as each "Market" has a number of entities using their control mechanisms. The Equity Complex has a number of headwinds approaching for Technology (NQ). Yields, specifically the 10Yr Treasury Note has been a reliable Instrument for an Inverse or Negative Correlation. 10Yr Yields rose Friday 4.6% In addition, we want to observe the Long End of the Yield Curve flattening - this is a warning sign, one which proceeds corrections. Technically, the most recent reversal has seen poor breadth within NQ. The majority of the rise have been driven by the usual narrow Big Cap, heaviest weighted Equities. AAPL, GOOG, AMZN, FB, MSFT - NVDA provided most of the gains for Index. Unusual option activity has been on the rise as well, favoring large and often extreme positions for downside. One Trade amounted to $40Million in QQQ 340 Puts. The NQ has repeatedly created a large squeeze prior to a reversal, the last thrust higher pushed up 500 points late in the day only to collapse the following day, giving up all of its gains. IMHO, something is brewing which will be extremely bad for the NQ. There are a number of vectors for it see a large correction. Earnings will be led by share buy backs, Co2 Credits and a host of other accounting manifestations, but Gross Revenues should be less than optimal for a sustained uptrend. The "Delta" variant may encourage some traders to position for increasing "growth" initially - this is not March of 2020. Taiwan is at risk on a number of fronts. This would clearly be a large negative for Semiconductors. I do believe this will play out as there is an increasing number of large entities seeking to follow Apple's lead with their RISC Architecture and begin using their own Chipset Designs and Architecture. MSFT announced this some time ago. Google continues to reduce MSFT Office's market share with Google Docs. Windows 11 is a clear signal MSFT is changing their strategy after having announcing Win 10 was it. The concentration of Chip/Chipset fabrication in Taiwan presents an imbalance globally and with it the attendant risks. China is one, Water is another and there are a more. Japan has recently sworn to defend Taiwan as they are wholly dependent on Semiconductors for almost everything they manufacture. The US has conducted multiple Naval exercises in the South China Sea for years. IS something brewing there? I do not know, but do believe there is an inherent risk well advanced with respect to Taiwan. There is little the US can do to prevent China taking back Taiwan IMHO. I favor a Geopolitical Event inducing this correction, one that occurs after hours during GLOBEX and not RTH. Europe is well advanced in declining Economic activity. The pace of Economic growth in China has slowed. The US reopening trade has been one of confusion, mistrust and one foot our the door. If traders review Samsung in 2019 and their decline in Gross Revenues, we are witnessing the same event spreading once again. Inflation changes purchasing decisions, substitution effects begin to take place. There is much more, but I will condense this in now: I expect Tech to see a large correction later this month. I expect a number of Monthly Red Bars for a number of Indices. I will discuss the ES YM RTY and Bonds in upcoming posts. I do believe the Russell 2000 and tech will lead the Indices down soon. Perhaps August - November contracts will serve us well. Given the large ranges, using Micro Contracts for Inverse Ladders would be a wise choice. The VXN should be monitored closely, it has worked well. We will see how hard this can be pushed prior to a large reversal. The VIX has not been as correlated to the NQ as the VXN and 10Yr Yields. Good Trading Everyone - more to follow as we are approaching highs in everything, although the YM won't likely peak until August.
NASDAQ:AAPL
by HK_L61
2
NDX - What Really Matters Personally I enjoy trading the NASDAQ more than the SPX or its derivatives. The NQ will let shorts out - added volatility creates bigger ranges for swing trading. What really matters is the NASDAQ is respecting Points of Control and Gaps more than the Spoos. The S & P still has three unfilled gaps from August the NDX has none! Todays price action was nothing more than house keeping. Forget about valuations if your trader - none of that makes sense. Price action make sense - and that's exactly what we saw today. We stopped right at the bottom of a gap created a couple weeks ago, and rallied hard from there - over 600 points. Stocks aren't crashing - we just got to the bottom of a channel quickly - posted below. Whats next? Is that a gap overhead? The caveat to all this is a news bomb - but right we just playing back and forth inside a channel.
TVC:NDQ
by Maximilianned
Nasdaq Moved down till ... Nasdaq Futures with lots of targets below got stopped dead - as the ES Futures hit yesterdays VPOC - this turned off the downward action. In the 15 Minute Bar the NQ lost 84 points - the move down was just as quick up, you couldn't hit the buy button fast enough to buy back shorts. NDX - Gap shown one of only two - unlike SPX which has four for the month of August. Lots of small and single prints that still need to be retested below at some point.
CME_MINI:MNQ1!
by Maximilianned
Nasdaq Futures - Renko Chart Long Term Trend There is a long term trend going back to April - this has been tested multiple times. As we continue to make highs on divergences we can have an expectation of where we might fall back to. The maximum percentage over the trend line was 11% - we are currently at 5%. Perhaps we'll get to that 8% this upcoming week - this could be good spot to short back to trend, tough to short the /NQ /MNQ, you may want to wait till we get back to 10950 range to take a long - if that fails then we have entered a whole new dynamic.
CME_MINI:MNQ1!
by Maximilianned