NASDAQ One last pull back possible but bullish nonetheless.Nasdaq has formed a Rising Wedge with the price near its top.
Another pull back to the 4hour MA50 is technically feasible and if it happens, buy and target 13500.
If the price crosses above the Rising Resistance, then buy the break out and target Resistance A at 13730.
Previous chart:
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NASDAQ 100 CFD
SPX -More upside before relevant downside for US indexesHello traders!
We are still tracking a double three structure for a primary wave B to the upside on the Us indexes. In NDX the structure appears clearer in his last zigzag, and as we argued before a descending broadening wedge and a W pattern have targets above 13600.
Even if the wave structure on SPX is less clear, bounce from the bottom show corrective character but bullish pattern are present with higher targets. Below the Inverse Head and Shoulder highlighted:
The confluence zone that comprehends the Patterns targets, the fibo EW targets, and the volume cluster resistance is 4235-4326 for SPX and 13615-13900 for NDX.
We will hold our long from 12909.1 on NDX up to the confluence zone, where we will reevaluate the price action looking for possible short setups. At the same time we will look for a macro wedge retest on VVIX:
Bests
GMR
NASDAQ: Keep buying on pullbacks.Nasdaq has turned the Channel Up into a Rising Wedge on the 4H time frame with technicals healthy bullish (RSI = 60.461, MACD = 23.460, ADX = 25.411). The current rebound is on the 4H MA50 and every pullback is a buy opportunity, targeting the top of the Rising Wedge (TP = 13,450). If it closes under the 4H MA200, we will add a second buy, targeting the top of the Channel Up near R1 (TP = 13,650).
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NASDAQ Still bullish with 2 scenarios within the Channel Up.Nasdaq (NDX) continues to trade within the March 20 Channel Up and is approaching the 4H MA50 (blue trend-line), having had the last rebound on the 4H MA200 (orange trend-line). The price action is starting to look a lot like April where a Channel Down took the price to the Channel Up bottom and then had a +4.50% rebound. If this prevails we will add a new buy on the 1D MA50 (red trend-line) and target 13400. If the price though closes above 13300, it invalidates this and we will buy the break-out instead, targeting 13500 (+4.50% rise from the bottom).
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09052023 -$NDXSimilar to SPX, price is in consolidation. Yesterday price did a minor pullback but closed higher. Bias still to the upside with BZ supporting it.
Above 13275 cautiously long to 13331, 13383.
Short 13383 if traded today.
Below 13251 look for move to 13213 which would be the pivot level for bounce or further downside.
Nasdaq -> Bulls Are In ControlHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Nas100 is actually approaching a quite obvious previous weekly support/resistance zone at the $13,500 level which is now turned resistance once again.
You can also see that from a weekly perspective, market structure is extremely bullish, moving averages are also bullish and we just recently broke above and retested a previous weekly resistance which was then turned support so from a weekly perspective I simply do expect a deeper retest of the next resistance at the $13,500 before I then do expect a short term rejection towards the downside.
On the daily timeframe you can see that with today's candle, Nas100 is finally breaking above a previous daily strong resistance area so market structure is now bullish again - I am just waiting for a little bit more upside, then a retest of the previous resistance which is then turned support and then I do expect more continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
NASDAQ Falling Wedge bullish breakoutNasdaq crossed over the Falling Wedge pattern, which is a minor construct inside the long term Channel Up.
The breakout started after the price rebounded on the MA50 (4h).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 13600 (5.66% rise and near Resistance 1).
Tips:
1. The RSI (4h) is identical to the RSI on the first Falling Wedge breakout of this Channel Up. This is how the +5.66% expectation is calculated.
2. The MA50 (1d) is a little under the Channel Up and is the current Support and last buy entry if the price pulls back.
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Notes:
Past trading plan:
SPX | Of Course I'm Lying (?)I am not lying.
I am completely disproving my latest idea, on how to short SPX. That idea went on Editors' Picks. And I am now killing it.
I am not kidding, April Fools is for fools. I don't consider me or you a fool. So I am being serious.
Chart analysis is not always straightforward. Pinpointing tops and bottoms is the ultimate bet for a trader. As most of you know, this is very hard sometimes.
In 99% of a chart's movement, the trend is continuing. A significant trend change is very rare. Significant evidence for a trend reversal are VERY RARE, and not apparent in all timeframes.
This is a chart that shows clear evidence of reversals. On the weekly timeframe, SPX analysis has showed significant evidence of peaks and bottoms.
Believe it or not, SPX and NDX are showing evidence of going long.
But what about long-term?
Now THAT is a hard conversation.
KST (and many other indicators) can show us incredibly early signs of price stagnation.
Signs of stagnation in long-term charts however, can take DECADES to play out.
SPX/M2SL Technicals were peaking in 1957, but the peak in SPX prices came 6 years later.
For the standard SPX chart, things took even longer to play out.
It is as if we are in 1957. And there is more evidence towards such a realization.
What I did here was basically compare the .com bubble with the Roaring '20s.
The .com bubble was just a very-fast version of the Roaring '20s. If we slow down NDX a little, we end up with the following:
The effect of bubbles is apparent in different periods, and in different scales. The same laws that shaped the 1950-1980 price movement, may be dictating the movement of today's stock market.
The Roaring '20s still has an effect on our moves. We may be living inside the reality-distortion field of the .com bubble.
KST Peaking is an EXTREMELY early sign of stagnation. Price continues upwards, albeit at a slower rate.
Now as we speak, KST reaches this exact point of peaking. This has proved an extremely early sign of stagnation.
Will this time be different, and instead KST is showing an immediate sign, an abrupt crash?
Perhaps things are too simple after all.
Long Live the US!
P.S. Remember, the stock market is for the patient ones, those who plan for decades ahead.
Tread lightly, for this is hallowed ground.
-Father Grigori
BIGGEST ECONOMIC CONTRACTION OF A LIFETIMEThe comparisons to the beginning of dot com are uncanny.
I compared countless indicators and the current price action is identical to the dot com beginning.
Additionally, the duration of the yield curve inversion is identical and the % of the drop is identical, almost to the decimal.
The current contraction took 5x as long to reach this point as compared with the dot com.
The dot com contraction took 2.3 years to hit bottom from the identified mark.
Scaling the time, this correction could take 10 years (5 x 2) to reach bottom.
We've enjoyed 15 years of a bull market (with some bumps along the road).
Now, we are facing the most inverted yield curve in 40 + years.
Time for the market to pay the piper.
I fear this will be a recession we will share with our children in 20 years
We are only at the start of this.
US100 / NASDAQ 5May2023the market looks very bullish, look for a period when the price corrects so that the buy can get the best area / price
NASDAQ Buy opportunity on the 4hour MA200Nasdaq hit today the 4hour MA200 after a week of trading over it.
This is our first buy entry. The second will be if the price hits the 1day MA50, which has been untouched since March 15th.
Target the Rising Resistance at 13400. If broken, extend to Resistance A at 13730 which is the high of August 2022.
Previous chart:
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Do Todays Participants & Pundits Understand Todays Stock Market?I’ll get right to the point. NO
Now granted, as the reader, you’re immediately drawing your own conclusions about that opening statement. You're probably thinking... The author of this post is obviously bearish and therefore has an agenda. Ok, that’s fair.
Then indulge me as I explain, in detail , why I believe todays market participants and financial news pundits do not understand Todays Stock Market. My only request of you, the reader, is to continue reading with an open mind till the end and then judge for yourself.
I practice a form of technical analysis called Elliott Wave Theory.
Whether one would consider it theoretical after 90 years since it’s introduction, or not, is a discussion for another time. This post is not some diatribe debating, nor defending the Principles of Elliott Wave. However, I’ll sum up Elliott Wave for the uninitiated in a simple explanation for sole purpose of understanding this post.
Elliott Wave Brief Explanation:
Elliott Wave means to forecast crowd behavior specifically as it pertains to price action within a given market. As a long-time practitioner of this form of analysis I am still amazed to this day, to see price follow through on my forecasts with a high degree of both accuracy, and reliability. I’m never bored. But in truth, this form of analysis has little merit in markets in which there are no LARGE CROWDS. Price action in thinly traded penny stocks, fly by night crypto currencies, and so forth. You simply cannot forecast what the crowd will do, in the absence of a true crowd. However, in LARGE CROWDS, the basic premise of Elliott Wave is prices tend to move in 5 distinct “Waves” within a given trend. During the course of that 5-wave trend, price will correct, consolidate or digest gains or losses in 3 distinct “waves” prior to that trend completing. To examine those waves within a trend, an analyst should be able to drill down into smaller and smaller time frames and see the same principles playing out as these price action patterns are fractal in nature. They are self-similar. Ok, that is an overly simplified explanation of Elliott Wave. Nonetheless, its one in which I think is enough where I can guide you through my broader reasoning. Let me start out with my long-term SPX analysis.
Elliott Wave Analysis on the SP500:
In the above chart you'll find the 4-hour fractal of the below larger monthly fractal. I have posted these charts many times before, so long-term followers of my work will recognize them. But I start this broader explanation with the below monthly chart. Displayed in the chart below you see a series of labels in green ( I ), ( II ), and ( III ). Those green labels are what Elliott Wave deems a super-cycle price action analysis…or count. Its referred to as a “count”, because practitioners of Elliott Wave Theory are simply counting waves.
So if Elliott Wave is based on a series of 5-wave trend patterns, and 3-wave counter trend patterns that are FRACTAL in nature (my earlier over-simplified explanation), then after completing a wave ( III ), we obviously need a wave ( IV ). Now in all fairness to you the reader, has the monthly price action confirmed we’re in a super-cycle wave ( IV ) and wave ( III ) has in fact completed?
NO.
What confirms the price action is in a super-cycle wave ( IV ) event is a breach of the 2020 Covid-19 low of ES Futures 2174. That price (2174) is the litmus test for continuation to higher highs in the SPX or a long slog in equities that could last decades and decimate global wealth.
Now I have long told my members that... although I do not know what the catalysts are that ultimately validate the forecasted price action, those catalysts always tend to show up on time . I think in my trading room, my members would whole heartedly agree with that statement.
So, as I analyze price action from the day to day to the 1-minute chart and justify my primary long-term analysis today I am in no shortage of potential catalysts that are brewing. You know them all (Debt Ceiling, Regional Banking Crisis, The Fed, Inflation, Geo-Political…etc.) I choose not to speculate on the potential event, but on history. Is there a precedent? Yes, History.
There is…. somewhat. Here it is.
The last time we had our wave ( II ), super cycle counter trend price action, was the stock market crash of 1929. That is easy to see on the above chart, but what were the clues, or the potential catalysts leading up to that event almost 100 years ago?
Clue #1: The Panic of 1907
The Panic of 1907 was…wait for it…” A Financial Crisis”. During this time, the irresponsibility of bankers caused Bank Runs, and ultimately that translated into a 50% decline in the NYSE. That’s half…50%. This dried up any liquidity for loans. In other words, a credit crunch. Sound Familiar? Sidenote: You starting to get the sense that bankers always seem to be present at the scene of the crime so to speak? It’s perplexing. Who are these nefarious characters? Banking, in general, is terrible business model. But I digress…back to the point.
Clue #2: The Spanish Flu
The Spanish Flu of 1918 was a global influenza pandemic (H1N1) that decimated a third of the population on planet Earth. The Spanish Flu became a global pandemic because exiting World War 1, the war effort censors were accustomed to censoring bad news. Therefore, most of the population was ill-informed regarding the dangers of (H1N1) and disproportionately this effected the young and old members on the population. This was also a time of climate change and population migration patterns and this exacerbated the spread and effects of the flu.
This starting to sound like you’ve seen this movie before?
Clue #3: Massive economic bounce back
The jobs market was in high deficiency mode as early as 1922 having had so many of potential workers having died in the previous pandemic prematurely. This caused a massive supply-demand dislocation of (1) human nature to get out from under the atmosphere of The Spanish Flu and (2) live and consume…and the work force to meet those needs on a global scale. This resulted in a large economic expansion that lasted almost 10 years. In the United States, we refer to this era as, “The Roaring Twenties”. These three clues culminated in the stock market crash of 1929...hence our super-cycle wave ( II ).
As an analyst, as an intellectual, and as a student of history, I cannot ignore these flashing confluence of events in my time.
The Irish statesman, Edmund Burke has been attributed to having said… ” Those who don’t know history are destined to repeat it.”
The Spanish philosopher George Santayana is credited with the aphorism, “Those who cannot remember the past are condemned to repeat it.”
War Time British Prime Minister Winston Churchill wrote, “Those that fail to learn from history are doomed to repeat it.”
In summary, how does this all shake out?
Well, first and foremost I’ll say that this is not your father’s stock market, it’s not even your grandfather’s market. It’s more than likely your Great Grandfathers market. That market was terrible. That market had seismic effect on both society and asset appreciation. Keep in mind, this market has had it’s bull and bear markets. However, for the last almost 100 years, we’ve been in a secular bull market. During the last 100 years, we have experienced 3 impactful cyclical bear markets within a 93 year secular bull market since our super cycle wave ( II ) event in 1929.
During the last 93 years, the stock market has essentially appreciated in a solid, predictable 45-degree angle higher. Buy and hold, buying the dip, has been both the statistical and practical successful trading thesis. If this is a wave ( IV ) super-cycle event, trader sentiment must change. This takes time. Traders must now go through re-conditioning. A mourning, if you will, of the past 93 years of a secular bull market. Unfortunately, this only occurs with the loss of money, and over time. Cavemen continued to touch fire as it is visually magical. However, after a while, I’m sure they drew the conclusion this is NOT ADVISED . I keep CNBC on in the back ground of my small trading office. The incredibly smart contributors, and titans of money they feature quote metrics like typical bear market durations, what typically happens after the Fed has paused rate increases 6 months afterwards…and I’ll be the first to announce to you, the reader, THAT NO LONGER APPLIES.
We are no longer in that 93 year long 45-degree angle up. Those metrics… worthless . Those typical expectations… miss-guided .
THIS IS NOT YOURS, NOR IS IT YOUR FATHERS MARKET.
Now granted, this is somewhat of a thought speculation on my part (as of today). However, I do wonder…if traders, market participants and financial news pundits have objectively considered if they understand TODAYS STOCK MARKET.
FOOD FOR THOUGHT.
CHRIS
NASDAQ: About to fill the August 2022 Gap.Nasdaq is on a long term Channel Up with bullish technicals on the 1D timeframe (RSI = 56.673, MACD = 124.440, ADX = 30.096). In addition to those bullish indicators, it kept intact the 1D MA50 last week as Support, while also having the RSI rebound on the HL trendline. Consequently we remain bullish on Nasdaq long term (TP = 13,730), expecting it to hit R1 which is the August 16th 2022 Top. That would be a little less than a 8.50% rise from the April 25th Low, which represents the decreasing rate of growth on each Higher High (+20.50%, +13.30%, +8.50%).
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The Taiwan BRICS War Leading To The Biggest Meltup In History
Can we not see what's happened over the last days? the exact repeat of 2009 instead of QE straight away the FED has resorted to using terms like "BTFP program" and offering zero percent loans to the bigger banks to bailout the smaller banks.
I thought the FRED would have allowed the banks to go down for a market reset "what everyone is expecting" but the response is if the trend line breaks the entire US bond market breaks + the global financial system is in meltdown meaning the FRED and the US Government won't and cannot allow it to happen, oh and the Treasury is almost broke defaulting meaning QE will be turned on within the next months or a "BTFP treasury program".
Lets look at the facts that's got me worried
US dollar dominance will collapse due to QE needed to fund the US government and bailout markets to generate GDP growth
Since 2009 Expenditure on the military in China has gone parabolic from 96 Billion to 293 Billion in 2021 - China also purchases mass gold with Russia (what the hell are they preparing for or doing?)
In 1919 the USA was the top military spending by country
In 1920 the Russian Empire upped military spending passing the USA
In 1922 the Soviet Union was formed spawning the rise of the German dictatorship
What does this mean? it means the Soviet Union is repeating with BRICS and I'm sure the USA is aware of that.
All BRICS nations are printing money like crazy funding gold / military purchases like they are about to disregard the FIAT system.
USA has one option and one option only to defend the global dollar.
Start a counter offense on completely taking Taiwan controlling the entire semiconductor market limiting BRICS economically, and handing over the technology keys to the USA
meaning they can set the rules and prices and force demand back onto the USD system.
If this outcome comes to reality, we will see money printing in the USA disguised flooded into defense and a full NATO move surrounding Taiwan.
Followed by this will be stocks rising + inflation heading up + rates heading lower - -
The goal of this is to devalue the currency and use WAR to take economic assets by force from BRICS causing the wealth to be returned back.
This should answer your question on why the Ukraine War? Why the Red Balloons? both NATO / US + BRICS are using these as a testing ground to predict retaliations for the main goal Taiwan.
If the US / NATO wanted this war to be over in a day it would be. If China / Russia wanted this war to be over in a day it would be nobody ask why its not.
Translation lets steal Trillions from the public and spend 10 billion in Ukraine while storing the rest for R&D for the real event.
NASDAQ Bullish within a Double Channel UpNasdaq (NDX) has gone a long way since we called for a rebound on the 1D MA200 on March 17:
Right now the uptrend has slowed down as the Channel Up that started in December has transitioned into a much less aggressive Channel Up, supported by the 1D MA50 (blue trend-line) that is targeting 13500 as part of its Higher Highs process. The 1D RSI which is trading within a Triangle of Higher Lows and Lower Highs can be a guide for buy and sell entries.
If the price breaks above the February 02 Higher Highs, we will increase our buy exposure and target the 13730 Resistance (August 16 2022 High).
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NDX - Rising Trend Channel [MID TERM]- NDX is in a rising trend channel in the medium long term.
- The index has given a positive signal from the double bottom formation by a break up through the resistance at 12042.
- Further rise to 13396 or more is signaled.
- The index is between support at points 13000 and resistance at points 13700.
- A definitive break through of one of these levels predicts the new direction.
- RSI diverges negatively against the price, which indicates danger of a reaction downwards.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
WavePoint ❤️
NASDAQ Close to a multi month buy signal but watch also the RSI.Nasdaq trades on a Falling Wedge inside a Channel Up.
If the MACD (1d) makes a Bullish Crossing, it confirms the continuation of the uptrend.
If the RSI (1d) crosses back under the MA line, it confirms a reversal.
Trading Plan:
1. Buy on the current market price.
2. Sell if the RSI (1d) crosses back under the MA line and the MACD (1d) fails to make the Bullish Crossing.
Targets:
1. 13750 (Resistance 1 and High of August 2022).
2. 12650 (bottom of Rising Wedge and MA50 (1d)).
Tips:
1. The RSI (1d) breaking back under the MA line, has been a bearish signal since the start of 2022 so keep a close eye.
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Notes:
This is a continuation of this trading plan: