Nasdaq thoughts 10-Sept-2024GOOD MORNING Everyone! Please find my Nasdaq market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.
Nasdaq
Important Support and Resistance Zones: 18788.2-18898.9
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The StochRSI indicator has not escaped the oversold zone.
And, since StochRSI < StochRSI EMA, I think it is not a trading period.
Therefore, the key is whether it can rise above the left Fibonacci ratio 1.902 (18788.2) ~ the right Fibonacci ratio 0.786 (18898.9) and receive support.
If not,
1st: 17854.8-18250.3
2nd: Right Fibonacci ratio 0.618 (17141.4)
You need to check whether there is support near the 1st and 2nd above.
In the worst case, I think the final range is around 16123.5-16322.6.
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If it rises above the left Fibonacci ratio 1.902 (18788.2) ~ right Fibonacci ratio 0.786 (18898.9) and receives support,
1st: 19582.6
2nd: 20313.8
You can trade depending on whether there is support near the 1st and 2nd above.
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Have a nice time.
Thank you.
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NVIDIA Q2 2024 earnings report BULLISH??? Price is currently trading -6% post market after their Q2 2024 earning report has just been released.
There is a Bloomberg interview with CEO Jensen Huang in 45 minutes from now (6:30pm New York).
Price action wise tomorrow’s daily close will be key. If we close below $123 then more than likely we will be in for a retrace toward $110 - $100 which might be a great long entry area.
NO TRADE and stand by for now.
Bearish patterns in techThe Nasdaq semis NASDAQ:FTXL is forming a head & shoulders top pattern and the Nasdaq NASDAQ:IXIC is forming a cup & handle
Is key that the Nasdaq respects this support area where it converges with its 200-day MA
The semis weight +8% in the index so is a very important component
Are you betting against this?
Agape ATP Corporation (NASDAQ:ATPC) Testing Key Support
After a strong rally in the past week, ATPC is now testing its key support level around $1.601 level amidst overall market weakness. However, we are still seeing an accumulation pattern around the current level due to the attractiveness of the valuation of ATPC currently, supported by their high growth renewable energy story.
We kept a HOLD recommendation on ATPC.
USNAS100 / Bearish Outlook before Inflation DataNasdaq Technical Analysis
The Nasdaq price has declined and stabilized below the pivot range of 18640, indicating a bearish trend.
As long as the price remains below 18640, further downside is expected, with a potential target at 18340. A break below this level could extend the bearish trend.
For a bullish reversal, the price would need to stabilize above 18640, with an upward move towards 18930.
Key Levels:
Pivot Range: 18630
Resistance Levels: 18800, 18930, 19210
Support Levels: 18340, 18150, 17890
Expected Trading Range: 18150 - 18680
Trend: Bearish while below 18640.
NASDAQ Is an August Low re-test inevitable?Nasdaq (NDX) got heavily rejected last week on the 1D MA50 (blue trend-line) and almost reached on Friday its 1D MA200 (orange trend-line). That was the level that was brutally breached on the August 05 Low, which only found Support on the 1W MA50 (red trend-line) and rebounded.
Technically those last two MA trend-lines are the long-term Buy Zone of the 2-year Channel Up that started after the October 13 2022 market bottom of the Inflation Crisis. Based on the last two major Higher Lows of that pattern though, it is possible for the index to re-test that August Low as it happened both on December 28 2022 (re-test of the October 13 2022 Low) and September 27 2023 (re-test of the August 13 2023 Low). The latter in fact dived on a 3rd wave a little lower to test the 1D MA200, but this time, this condition has already been met (1D MA200 already tested).
This Low re-test tendency is also evident on the 1D RSI fractals among the Higher Lows sequences. If that scenario is materialized, it would give us both a big bullish and a big bearish development. From the bullish side, a 17300 re-test would form an exact Higher Low at the bottom of the 2-year Channel Up, which is positive as it will fulfil a strong bullish condition to move forward. On the bearish side though, that would mean a breach of the 1W MA50, which technically would be very negative, unless the 1W candle that will break it, manages to close the week above it on a strong bounce.
Until then, lets initially see if the 1D MA200 holds (currently early in the day/ week it does) as if the price reverses here, we can technically have a bottom similar to October 26 2023. In any case, Nasdaq is just above the 1st long-term Buy Zone currently.
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NAS100 Technical Analysis and Trade Idea US100 NASDAQ👀👉 The NAS100 has broken key structural support on the daily and 4-hour charts, signaling potential bearish momentum with the NASDAQ. I expect this downward move to extend towards previous lows, as highlighted on the chart. However, my approach is to wait for a bullish retracement early in the week, aiming to catch a reversal that confirms an entry for a short position.
It's important to note that this analysis is based on probabilities, not certainties. Always wait for price confirmation before executing any trades, as discussed in the accompanying video. The analysis provides a comprehensive overview of current price action, trend direction, and market structure. Keep in mind, this is for educational purposes only. Trading carries inherent risks, so make sure you have a solid risk management plan in place at all times. 📈✅
Nasdaq Thoughts 09-09-2024Happy New Week all, Kindly see my Nasdaq thoughts for today. These videos are aimed at making you compare charts with mine if you are a price acton trader and use my thoughts to improve your skill. They are not meant as signals even if they seem like they are. I want you to learn and be great
Tesla Stock Correction: Eyeing a $300 Target? (READ THE CAPTION)By analyzing the Tesla stock chart on the weekly (logarithmic) timeframe, we can see that, as expected, the price entered the supply zone at $235. After reaching this level, the stock faced a decline and corrected down to $210! It is likely that we will see further correction in Tesla's stock price. However, as mentioned in the previous analysis, due to the recent interest rate cuts, we might gradually witness a price increase after this initial correction. I am forecasting a mid-term target for Tesla stock above $300.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Expected flow during this volatility period
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USDT, USDC seem to have gapped up as the weekend approaches.
I think the gapped up is a sign of funds flowing into the coin market.
The rise in USDT dominance is likely to lead to a decline in the coin market.
However, since funds flow into the coin market through USDT, I think that USDT dominance will show an upward trend in the medium to long term when considering it from a medium to long term perspective.
When funds flowing into the coin market purchase coins and tokens, USDT or USDC flow back into the exchange, which is expressed as a decline in USDT dominance.
Therefore, I think that in order for a large bull market in the coin market to begin, USDT dominance will start to decline after a large rise.
In that sense, the 4.97 point of USDT dominance is expected to be an important turning point.
If USDT dominance rises above 6.39, the coin market is likely to show a large decline.
I think that if it rises above 6.39 and then falls to the 4.97-6.39 range, the coin market is likely to form a bottom range.
My personal hope is that it will fall after receiving resistance near 6.39 ~ Fibonacci ratio 0.75.
If that happens, I think the coin market will already be on an uptrend before it is recognized as a bottom.
We need to see whether individual investors will recognize it as a bottom and give them a buying opportunity, or whether they will not give them a buying opportunity.
In that sense, I expect the volatility period around September 13 to be a meaningful period.
In fact, this volatility period is the period set on the 1W chart.
Therefore, the actual volatility period is the week before and after September 16.
In other words, if expressed as a 1-day period, it corresponds to September 9-29.
The strong support zone is expected to be around 42K-43K.
I think this is the zone that most people are expecting.
Therefore, if we give individual investors a buying opportunity as I mentioned earlier, I think it will touch around 42K-43K.
If we do not give individual investors a buying opportunity, it is expected to turn upward near the M-Signal indicator on the 1M chart.
In other words, it is expected to touch around the Fibonacci ratio of 0.707 (48064.07) ~ 0.786 (51606.42) and turn upward.
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When looking at the NAS100USD chart, we need to check if the StochRSI indicator enters the oversold zone again when a new candle is created.
The important zone is the 17854.8 point.
If it falls below this point, it is likely to touch the Fibonacci ratio 0.618 (17141.4) on the right.
Therefore, I expect the trend to form after the volatility period of BTC that I mentioned earlier.
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Have a good time.
Thank you.
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- Big picture
It is expected that the real uptrend will start after it rises above 29K.
The expected range to touch in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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Nasdaq already in a Bear Market Hello everyone,
We are currently in a topping process and chances are July 10, 2024 was the top for the Nasdaq (NDX). I believe that we will fill the gap before entering the bear market. A confirmation of a lower high on NDX and a higher high on SPX would show a clear divergence confirming a market top. It's clear that the Russell (IWM) is not making new highs and showing a clear divergence from SPX and NDX making new highs suggesting this is the top. NDX may have already entered a bear market and will not be making new highs and this is simply an ABC corrective wave up before making new lows.
TLDR: NDX ABC CORRECTIVE WAVE UP BEFORE NEW LOWS; NDX WILL MAKE LOWER HIGHS AND SPX NEW HIGHS WILL CONFIRM THIS A MARKET TOP
SPX: A Double Top at the peak could lead to a short-term fall!
The chart depicts a steady upward trend of the index.
After reaching an all-time high close to the 5,670 level, the index saw a significant decline, dropped by nearly 550 points.
However, after a recovery, the index once again neared its previous high, but experienced another setback.
The emergence of a Double Top pattern, along with a clear RSI divergence, indicates that the index may face difficulties in the near future.
On the downside, immediate support is found between the 5,250 and 5,300 levels.
A break below this support could lead to a considerable drop in the index.
Nasdaq heading back to previous lows, but only up from thereNDQ has been severely overweight in the recent weeks. Mostly due to the carry trade with
NI225 plummeting practically out of nowhere then rebounding instantaneously. I believe the Nasdaq along with other indices are heading toward last month's lows in the coming weeks but will rebound and move upward from there. Recession? No I don't think so.
NASDAQ Collapse Underway | SHORT $QQQConsistent with my entire market thesis, I am looking for the NASDAQ to selloff back to the 2018 price level, with the additional likelihood that we will test the Covid bottom from 2020.
If you own NASDAQ:QQQ , I advise an immediate sell; if you are looking to increase profit, you can short the Nasdaq.
Folks, we are in a recession and the market-makers are not playing around.
This will go deep.
S&P500 INDEX (US500): Strong Intraday Bearish Signal
Update for US500.
Earlier, we spotted a breakout of a support line of a horizontal
trading range on a daily.
Retesting a broken structure, the market formed a symmetrical triangle
pattern on a 4H time frame.
Bearish breakout of the support of the triangle gives us a strong intraday bearish signal.
We can anticipate a bearish continuation now.
First goal - 5450
❤️Please, support my work with like, thank you!❤️
Double-Top In PlayAs expected, SPY double-top looks to be playing out. I don't expect us to drop much lower than the pink ascending trendline. Maybe we'll touch that 200 dma before our full send. Let me remind you that the pink ascending tl is the neckline of a large cup and handle pattern on the bi-weekly, the target of which remains 650-700. This is still in play on the longer timeframe and as long as we don't break below the pink tl with confirmation on the weekly, I will start to buy back at or around the pink tl and down to the 200 dma. Batting 1000% thus far and hoping to keep it perfect.
CAPE Ratio > Shiller P/E RatioThe Shiller P/E Ratio helps investors understand whether the stock market as a whole is overvalued or undervalued. It is calculated as the current price divided by the average inflation-adjusted earnings per share (EPS) over the past 10 years.
We are currently in one of the most overvalued stock markets, with the Shiller P/E Ratio at 32.61, a level not seen since the late 1990s. During the dot-com rally of tech stocks in the US, the Shiller P/E Ratio reached 44.19. At that time, this high ratio suggested that the market was in a bubble. Are we now in an AI bubble?