NDX New Butterfly Spread Setup 14000/14200/14400The NDX is likely going into a minor corrective wave before completing 3 remaining moves into wave (iii) upside target that may reach 14449. Looking to place a short term Balanced Butterfly 14000/14200/14400 expiring May 10th 2021 for this slightly bullish consolidation pattern.
Ndxlong
Nasdaq 100 Index (8H) / Elliott Wave Update It's getting embarrassing for bulls and bears (especially bears). When are we pumping or dumping?
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Elliott wave & Fibonacci labelling:
Common path in white, bullish count in green, bearih count in red.
NASDAQ 100: WE HAVE A TEMPORARY WINNERIMO, The NASDAQ is presenting A GOOD profit OPPORTUNITY ...
BUT BUT BUT, Don't be FOOLED this IS NOT the start OF a 6-9 month bull MARKET.
MAJOR correction still SITS on the HORIZON, (see previous POSTS)
AFTER new WAVE-1 HIGH was reached, I have been Buying the NASDAQ
and PLAN to take PROFITS around the Completion OF WAVE-3 ... wherever that may untimely end up
NASDAQ ALL TIME HIGH16 days until the elections and the bullish momentum on NASDAQ keeps on climbing. 15 more Daily candles is more than enough to reach and break NASDAQ's all time high, to cerate a new all time high.
FIB level shows retracement at 0.5 which sets my target to 0.618.
RED retrace = RED target
I'll be looking for buy opportunities on the H1 timeframe towards the all time high (12466.6) as my TP.
I will only be looking to buy towards the 0.618 target after a clear break and retest of the all time high (12466.6).
How to use VOLQ to profit from NASDAQThis is how I have used the Nasdaq 100 Volatility Index in addition to my arsenal of confluences to determine where the NASDAQ is going. Here you will find that the VOLQ moves in the opposite direction near 80% of the time. The section I have marked using the red vertical lines, show the 20% of-the-time playing out. Within that period, the VOLQ and NASDAQ moved in conjunction with each other. Based on the experience of Luke Rahbari, the CEO of Investment Advisor Representative, with Volatility and Index markets, is that this indicates potential downward movement for the index.
This may be the case as soon as the NASDAQ reaches Septembers high of 12466.6 - this being the highest price ever recorded on NASDAQ - so I'll be looking out for bearish movement during that time. Only temporarily however, and not for signals to sell as we are still in a bullish market overall.
Notice if you add up the percentage weights of the top stocks in the NDX: MSFT, AMZN, AAPL, FB, GOOG (class A & C), they make up 44% of the index. Technology companies make up 55% of the total weight of the NDX and Consumer Services is another 25%.
NASDAQ - TA Long term perspective for noobiesThis basic technical analysis is easy to understand for new investors. In my opinion, we are still in the territory too long the QQQ. Make sure to set sell limits near the top of the current channel.
I am not a financial advisor, do your own due diligence.
NDX Wave (V) rally On-GoingWe are labeling 5-wave rally from March 25th as the primary wave count. cThe Daily Wave count shows the NDX next upside target is facing resistance at the 13450 level with a pending pullback into wave (4) setting up for a terminal push higher into wave (5). The same predicament exists in the SPX as the NDX with a pending move higher into wave (5) that is an ideal point to book profits.
NDX wave (iii) Upside target Major Techs are still leading the charge as the NDX move towards wave iii. NDX rally on-going targeting the 12,104 wave (5) suggesting a terminal move into wave (5) supporting our thesis that the bull is still in control and we will be riding this wave into wave (5) with our existing longs.