NDX100 sellers are struggling to beat 11,780 for nowHello TradingView community, today’s video update is more to highlight an area as opposed to looking out for a potential set-up.
Tech stocks have been having a hard time of it lately, but we are seeing and watching an area between 11,780 and 11,550ish. The bottom is not exact, but after looking at the NDX100 you will see the point being made.
This area, for now, continues to reject sellers and continues to present as demand and possibly support for buyers. It’s no more than a level of interest for us at the moment. We could see price continue to hold there and perhaps push at a new move higher, or we could see sellers railroad the area.
The key for us will be if this level can continue to hold. If so, we will look for further price action to start thinking and looking for new ideas.
Good trading.
NASDAQ 100 CFD
NDX 100 - Approaching Time & Price BUY ZoneAre we at a significant turning point of time and price?
This long term WEEKLY chart illustrates the significance of the area we are currently approaching.....we may have already arrived.
As you can see we are positioned at the median line of the LONG TERM channel. I think this will provide an area of support that could advance prices to the .62 or .78 fib retracement area outlined with the white box. This most likely will take months to unfold.
There should be excellent gains in many of the stocks that have been thoroughly trashed. In many of these stocks the correction actually started in February of 2021.
NAS100 USD NQ1! NASDAQ 2022 May 23 week
NAS100 USD NQ1! NASDAQ 2022 May 23 week
Last week Scenario 1 was good.
Market going into previous demand zone.
If 11068 is reached, wait for price reaction as there was where
the previous test and acceptance of uptrend price level was.
Possible scenarios
1) Test and reject of 12543 / supply line for continuation of short
2) Test and Reject 12110
3) Market spend some time in rotation between 11690-12543
Weekly = Average vol down bar closing off low = minor strength
Daily = Average vol down bar closing about middle = minor strength
H4:Ultra High vol down bar followed by high vol up bar closing at
high = strength
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14729 14365 13587
13025 - 12895
12543 12110 11690
11100-11068
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Have a profitable trading week ahead.
Nasdaq - Channel has been broken, a possible downfall to follow!Yesterday, we stated that the rally was due to end and the bearish trend to resume. Then, a few hours later, the Nasdaq 100 index fell more than 5%. In the aftermarket, the selling continued; and in the early hours of futures trading, Nasdaq futures sold off as well. Then, the index (continuous futures - NQ1!) erased some of its losses and turned positive. At the moment, NQ1! trades around 11 920 USD. We expect a little bit of relief ahead of the U.S. market opening; however, our stance remains bearish, and we expect new lows in the Nasdaq 100 index. Therefore, we would like to set a new short-term price target for QQQ at 285 USD and the medium-term price target at 280 USD (it will become the short-term price target after hitting 285 USD).
We think what highlights yesterday's selloff is that no significant headlines were made in the news, and despite that, the stock market fell by an astounding amount. Market participants can observe that anxiety and fear are extremely high, which leads to strong price actions to the upside. However, these bounces tend to last shortly and are quickly followed by massive selloffs. These are particular signs of the bear market.
In addition to that, we would like to note the downward moving channel has been broken yesterday - which we expect to culminate in the acceleration of the selling pressure.
Illustration 1.01
The picture shows NQ1! (Nasdaq continuous futures). It can be observed that buyers did not manage to push the price through the sloping resistance; a breakdown in the price of the index followed.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bearish again. DM+ and DM- are bearish too. A move up by the ADX suggests that the bearish trend has resumed. Overall, the daily time frame is very bearish.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX increases. Overall, the weekly time frame remains bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Nasdaq Analysis Hello everyone,
Yesterday was a crazy day. We had moves of close to 700 pips. The price smashed through all the key areas and reached close enough to the monthly lows as analysed and expected. Where do we go from here now?
So price is not only near the monthly low but also centre trendline. I will wait to see how price reacts around this area as it is a key area. If 11828 is broken then I would expect price to push down further to next level of 11687-11525. However price can also go back to 12132 area before coming back down.
Over the last 6 months tech companies have not been doing very well and rising in interest rates have played a big part.
Nasdaq 100 - Dip buyers about to get obliterated Yesterday, Nasdaq 100 pushed above the immediate resistance we hinted at in our latest post on QQQ. We think the rally is due to end and the bearish trend to resume. Therefore, we would like to set a new short-term price target for NQ1! at 12 250 USD. We would also like to set a medium-term price target at 12 000 USD.
Illustration 1.01
The picture above shows yesterday's bullish breakout on the hourly chart. In our opinion, this is potentionally a perfect bull trap. Although, we will pay close attention to the price action of NQ1!; if it manages to break above the immediate resistance then it is likely that NQ1! might experience the last push higher before faltering.
Technical analysis - daily time frame
RSI points to the upside, which is bullish; however, we expect it to break down and turn bearish soon (the same applies to other mentioned indicators). MACD strives for a bullish crossover. Stochastic is bullish. DM+ and DM- remain bearish, while ADX signals a pause in selling pressure. Overall, the daily time frame shows less bearish conditions than a week ago; although, we still maintain a notion that the current bounce in price is just a “downtrend” rally.
Illustration 1.02
The picture above shows the daily chart of QQQ.
Technical analysis - weekly time frame
RSI and MACD remain bearish. Stochastic is bullish. DM+ and DM- signal the presence of a bearish trend. ADX grows which suggests that the bearish trend has not peaked. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NDX Intraday Upward CorrectionThe Nasdaq 100 index NDX confirmed an inverted head & shoulders pattern breakout on the hourly timeframe to support a short term upward correction that may test 13,100 supply area as a minimum target within the broader downward trend.
Nasdaq 100 climbed 320.53 points or 2.62 percent on Tuesday to settle at 12,564.11, just a few points off the day's high.
Nasdaq Analysis Hi Everyone,
Nasdaq is in a key area of resistance also the centre of the trend line if broken can reach 12874 area, also the top of the channel. However with the current market state I would expect price to push down again to previous lows of 11600 area and break through this to reach the next monthly support of 11000.
Key to remember, The moon is not the target, alway have a TP, break evens, take partials, so you don't let the market eat away everything.
NDX - Reversion to the mean - Now what...NDX - Weekly Chart
This market has reverted to the mean in dramatic fashion. I've taken the liberty to label the waves as I have in an admittedly premature assumption keep that in mind.
This is an area of confluence of time and price that should at least provide support, and at best become the launching pad for an advance to new highs? That seems impossible.... given what we know of monetary policy and other headwinds present at the moment. That being said... has the market fully digested these factors? ..... Time will tell.
Crash is over !flat pattern is over on Friday and now it gonna make B branch triangle , After completing this branch, it will be clear exactly what kind of 18 types of triangles we are in and we can see where the exact target is.
But we can say that in the next 3 months we will be around the previous ceiling
NAS100 USD NQ1! NASDAQ 2022 May 16 week
NAS100 USD NQ1! NASDAQ 2022 May 16 week
Last week market continued down after the breakdown from 13025.
Possible scenarios
1) Test and reject of 12543
2) Test and reject of breakdown area 13025-12895
Weekly = High vol up bar close off high = weakness
Daily = Low volume up bar closing toward high = minor strength
H4:Very high vol up bar close toward low followed by average vol
up bar close off high = weakness
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14729 14365 13587
13025 - 12895
12543 12130 11690
11100-11068
Remember to Like and Follow if you find this useful.
Have a profitable trading week ahead.
Nasdaq100 inverse Head and Shoulders Chart PatternNasdaq 100 P/E ratio on May 12, 2022 was 20.71, which is below the Median of 26.59 or the Average of 30.04.
In the past 5 years, the Minimum was 15.74 on MAR 23 2020 and Maximum 86.30 on JUN 28 2017.
I have 2 scenarios:
1. Inverse head and shoulders chart pattern with a price target of $16650 by the end of the year.
2. Worst case scenario: bull trap at $13350 an retracement to the pre-pandemic level of $9750. I tend not to believe this scenario because of the too low price per earnings ratio of NDX.
Looking forward to read your opinion about it.
NDX Turn-Around to come in June SUMMARY
Based on Fib-Retracement and ABCD Analysis, whilst having analysed historical bearish market-sentiments, the current correction aka our bearish market is likely to be over around early to mid June 2022.
View the grey rectangular box for potential entries into Tech-Assets, but only those that are considered as Value Growth Stocks etc.
Recommended Stocks:
Snowflake (#SNOW)
Fortinet (#FTNT)
Microsoft (#MSFT)
Apple (#AAPL)
Roblox (#RBLX)
etc.
QQQ - A relief rally about to get prolonged or not?QQQ continues to enjoy the relief rally, which might get prolonged if the short-term resistance is penetrated to the upside. However, if that occurs, we will pay close attention to the price and if it manages to close above the mentioned level. In addition to that, we think that if the rally continues further, it might present itself with a good opportunity for short trade (re)entry. Therefore, despite the ongoing rally, we remain bearish on QQQ, and our price targets remain 295 and 290 USD.
Illustration 1.01
The picture above shows QQQ on the daily chart. A white horizontal line indicates support from 5th March 2021.
Technical analysis - daily time frame
RSI shows some relief; however, its bearish structure remains intact. MACD and Stochastic also remain bearish. The same also applies to DM+ and DM-. ADX does not show a significant drop, which indicates that the bearish trend is still not losing momentum. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish; ADX grows. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NASDAQ Channel Down bottom but attention as the 1W MA200 awaitsThe Nasdaq (NDX) index is very close to the Lower Lows (bottom) trend-line of the Channel Down pattern that started the late December correction. Technically, as long as the Lower Lows line holds, we may see either a +10% rebound (as with the January 24 low) or a 0.618 Fibonacci retracement level rebound (as with the March 14 low). That gives us two medium-term targets (13400 and 14000 respectively) depending on your risk tolerance.
However, a 1D candle close below the Lower Lows, can be enough to extend this long-term selling towards the 1W MA200 (red trend-line). The last time this trend-line got hit (and offered Support) was on March 23 2020 (and that was on the futures), which made the bottom of the COVID market crash.
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The GAP Gives It Away | NasdaqWe have different signals to look at on the Nasdaw (NDX) chart.
We looked at the SPX and DJI, each has its own signal that support a continuation of the bearish correction, here we have new ones.
First, let's start with the "Hanging man".
This is the candle that showed up on 2-Feb. 2022. This is a bearish candle.
To make things worse, the day that followed we have a "falling window" or "GAP" as prices for the NDX opened much lowered compared to the previous day low.
All in all this is highly negative, the candle opened below EMA10 which supports the other signals.
Conditions for change
If the NDX moves up resistance will first be found at the falling window.
The final resistance is at the "hanging man's" high (upper shadow). If this level is broken, these signals are invalidated.
Any trading below these levels and the bearish bias remains strong.
Are we going down this very same week?
That's my believe based on the chart.
What's your take?
Leave us a comment.
Namaste.