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Nasdaq100

Nasdaq bears threaten 15K support The tech-heavy Nasdaq was unable to hold onto the gains made on Monday, joining a global stock market rout. Sentiment has been hurt by weak Chinese data, rising bond yields and valuation concerns, while the lack of fresh bullish catalysts is also discouraging the bulls to buy this latest dip. China’s central bank has cut interest rates but so far this has not helped to offer too much support. Will things change later, or will the selling gather pace? Looking at the chart, the bulls appear to be in trouble. Many traders’ stops would be resting below Monday’s range. With the index having failed to hold above Monday’s high, it is very likely in my view that the Nasdaq will drop to a new low on the week, and sweep those stops. In other words, key support around 15K could be taken out today. But watch how the markets close the session to give you an indication of what to expect next. A decisive move below this 15K may very well trigger follow-up technical selling in the day or days ahead, especially as there are no further obvious levels of support to watch below this level. Conversely, if we see a sharp, late-day, recovery then this will boost the Nasdaq’s appeal in the short-term outlook. But overall, the risks do appear to be skewed to the downside from here. However, the bears must be careful not to chase the markets lower too aggressively given the extent of the declines we have already seen on the session, and the fact that longer-term trend is bullish. China’s yuan lead EM sell-off The loss of risk appetite is also evident in falling emerging market currencies, led by China’s yuan with the USD/CNH (0.5%) reaching its highest level since November 2022 today. The US dollar continues to find support amid haven flows – albeit the likes of the EUR/USD and GBP/USD were trading slightly higher at the time of writing, with the latter being boosting by surprisingly strong UK wages data. Still, the fact that copper and crude oil prices have weakened also reinforces the view that China is struggling, where private sector demand remains rather weak, even if air travel has picked up slightly. So, it was hardly a surprise that the PBOC cut two key wholesale interest rates overnight, following the release of softer-than-expected inflation and credit data last week. And that decision was justified as retail sales, industrial production and fixed asset investment, all undershot expectations by some margin today. It is not just the yuan. We have seen several other EM currencies weaken, helping to keep the dollar bid, with the greenback supported further by US bond yields remaining high. Market continues to see US dollar as a worthy safe haven asset, especially as it continues to be supported by data – retail sales came in strong today. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:NAS100Short
by FOREXcom
Unlocking Nasdaq 100 Insights: Michael Burry's Vision & IchimokuAnalyzing the monthly Ichimoku chart of the Nasdaq 100 index reveals potential insights that align with Michael Burry's expectations. Upon closer examination, the lagging indicator is situated within the price movement itself, hinting at possible future price action. A careful observation indicates the likelihood of a pullback until the kijun-san level, considering that the tenkan-san is positioned below the kijun-san. Moreover, the price's current positioning above the kijun-san is notable. The cloud formation, characterized by its flat nature, holds significance. It suggests that the price might eventually breach the cloud, marking a pivotal point. This breach could trigger a series of events, potentially leading to panic selling. This chain of events might culminate in a retreat to a previously established strong support level, near the 5000 mark. Taking a broader perspective, it seems plausible that Mr. Burry envisions the Nasdaq 100 index descending towards this level. This anticipation could be fueled by the absence of significant price corrections since the initiation of the bullish rally post-March 2009. Notably, the current price trend exhibits characteristics of potential change; despite the price resting above the cloud, both the cloud and the individual tenkan-san and kijun-san lines remain flat. Additionally, a red candle formation following a sequence of five consecutive green candles on the monthly chart suggests a shift in momentum. In essence, considering these Ichimoku signals, there seems to be alignment with the notion that the Nasdaq 100 index might undergo a substantial correction, possibly drawing it closer to the support level at around 5000. This analysis underscores the complexity of the current market dynamics and the potential for shifts in sentiment and price direction.
NASDAQ:NDXShort
by TheAltcoinBuff
1
Current Pull-Back: A Perspective Using NASDAQ 100 WeeklyCME_MINI:NQ1! has had the sharpest pullback in last couple of weeks. The Semiconductor Industry NASDAQ:SOXX has been the largest driver in this selloffs. In this Trend Analysis, I tried to draw a perspective as to how deep this pullback could be given Support and Resistance areas that stood the test of time in recent years. I used Weekly chart to gain a broader perspective of where the index will end up in coming months. It is easy to establish that the TOP of the Current Rally (~16,100), i.e., the Resistance has been determined by the Start of the Recent Bear Market in 2022. Which technically started with the collapse of the Post Pandemic Rally in early January, 2022. This is the most important Control Level that the current market needs to break for a further rally in the future. The Bear Market in 2022 was strictly bound by the Wedge Resistance as we can see. The same phenomenon can also be shown by simply drawing an Anchored VWAP from the All Time High. Throughout the course of the Bear Trend CME_MINI:NQ1! could not break above the AVWAP. After the market established a bottom between October and December of 2022, it finally broke above the Wedge in the last week of January, 2023. We can call this the beginning of the current Bull Market. NASDAQ eventually broke the AVWAP in the last week of March 2023 to further confirm the Bull Trend. The AVWAP has worked as a Support Level since then until the market boosted up in May. Now coming back to the Current Pull-back, It is not hard to identify that there is a possible Support Area at the bottom of the range (~14,775) which the Current Bull Trend has established. If this Support Level is held then the projected size of the pullback from the top will be approximately 8.0 %. Current price action has confirmed a breach of the Short Term EMA cloud in the Weekly chart. In the Daily chart it came down below the 50 day Moving Average which indicates Short Term bearish tendency. If CME_MINI:NQ1! doesn't take support at the Range Bottom, then we could think of the Long Term EMA cloud as secondary Support Area. The next Support Area could be the AVWAP from ATH. For now, there is no reason to believe that there will be a lingering pull-back in the market going forward to start another Bear Market. Our best "hope" is that the market will take support and continue the Bull Trend in coming months. Please note that historically, in Pre-election years, August and September had been the most bearish months. This write-up is solely based on Technical and Trend Analysis to figure out the best case scenario. Thanks for Reading!
CME_MINI:NQ1!Long
by Trading-Economist
6
Nasdaq -> -20% Massive Drop Ahead!Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100 💪 Looking at the macro view on the monthly timframe you can see that at the moment the Nasdaq is retesting massive resistance of the 10+ years rising channel formation so I do expect a monthly push lower. With the recent strong rally on the Nasdaq it is quite likely that we will see at least a retest of the 0.382 weekly fibonacci retracement level which is then maybe acting as a first strong support area. My last analysis on the Nasdaq perfectly played out with the Nasdaq breaking below the daily bullish trendline and creating a double top in the process - therefore everything is currently looking quite bearish and I do expect more daily downside. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
PEPPERSTONE:NAS100Short
by basictradingtv
42
$QQQ Bullish Parallel Uptrend Bullish Parallel Uptrend About to Break Lower, Wait and See at the Moment The Invesco QQQ Trust (QQQ) has been trading in a parallel uptrend since the beginning of the year. The price has been making higher highs and higher lows, creating a series of parallel channels. This pattern is often seen as a bullish sign, as it suggests that the trend is in place and is likely to continue. However, the QQQ is starting to show signs of weakness. The price has been unable to break through the upper trend line of the parallel channel, and it has started to make lower highs. This suggests that the bulls are starting to lose momentum. I am waiting for the QQQ to break through the lower trend line of the parallel channel before making any trading decisions. If the price breaks through the lower trend line, it would be a sign that the uptrend is losing momentum and a bearish reversal could be in the works. However, if the price bounces off the lower trend line, it would be a sign that the bulls are still in control and the uptrend is intact. I will continue to monitor the QQQ and will update my trading plan accordingly. In the meantime, I recommend that traders wait and see what happens before making any trades. Here are some additional things to keep in mind: The QQQ is starting to show signs of weakness. The price has been unable to break through the upper trend line of the parallel channel. I am waiting for the QQQ to break through the lower trend line of the parallel channel before making any trading decisions. If the price breaks through the lower trend line, it would be a sign that the uptrend is losing momentum and a bearish reversal could be in the works. However, if the price bounces off the lower trend line, it would be a sign that the bulls are still in control and the uptrend is intact.
NASDAQ:QQQShort
by AlgoTradeAlert
Update with full count TSLAElliott Wave Theory , which is a technical analysis approach used to analyze and forecast financial market trends. The text seems to be describing the potential Elliott Wave pattern of Tesla's stock price movement. AT the low of $101.86 Tesla has formed its bottom, which is higher degree wave II . This means that at a price level of 101.86, Tesla's stock reached what is considered a significant low point. This low point is identified as a higher-degree "wave II." In Elliott Wave Theory , higher-degree waves are larger in scale and represent broader market trends. Thereafter it formed higher high and higher lows and formed miner degree waves 1, 2, 3, and it is under miner degree 4 as of now and 4th wave seems to be under completion. After the higher-degree wave II, Tesla's stock price started to form a series of smaller movements: higher highs and higher lows. These smaller movements are referred to as "minor degree waves." Tesla has completed minor degree waves 1, 2, and 3, and is currently in the process of completing minor degree wave 4. This indicates a series of price movements within the broader trend. We expect the higher degree (1) will complete near the minor degree 5th wave target of $335. Once minor degree wave 4 is completed, the stock's price will likely move upward, forming a higher-degree wave (1). This higher-degree wave (1) is expected to reach a target price of $335. In other words, the stock's price is predicted to rise in a significant movement. After completing wave (1), it will move for wave (2) with a target price of $191. Once the higher-degree wave (1) is completed, there will likely be a corrective movement in the form of higher-degree wave (2). This corrective wave (2) is projected to have a target price of $191, indicating a temporary decrease in the stock's price after the expected rise of wave (1). Disclaimer: Financial markets are subject to significant volatility, uncertainty, and various external factors that can impact price movements. Any investment decisions made based on the information in the chart are at your own risk. Before making any financial decisions, it is strongly recommended that you conduct thorough research, seek advice from qualified financial professionals, and consider a range of reliable sources. The use of technical analysis tools such as Elliott Wave Theory involves a degree of subjectivity and interpretation, and past performance is not indicative of future results. All investments carry inherent risks, and there are no guarantees of specific outcomes or returns.
NASDAQ:TSLALong
by imkhushal