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NASDAQ: Critical breakout ahead that can send it to 22kNasdaq is almost overbought on the lower time-frames but just turned bullish on 1D (RSI = 55.402, MACD = -62.050, ADX = 25.952) and the main reason is that it closed over the 1D MA50 yesterday. This can't be considered a bullish signal on its own as the LH trendline is right over it and is being tested today. If broken, it is very likely to see the next bullish wave of the Channel Up. The previous two waves confirmed the uptrend after a candle closed over the LH. If that happens, we will aim for a new Channel Up HH at the end of the year, almost at +31% from the bottom (TP = 22,000) like March's High. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Long
by InvestingScope
1
NASDAQ: Channel Up peaked. Correction needed.Nasdaq is forming a new HH at the top of the 1 year Channel Up with the 1W timeframe overbought technically (RSI = 70.596, MACD = 766.660, ADX = 46.154) and the RSI in particular under LH and inside the red Resistance Zone. This is a bearish signal, validation would come upon a 1D MA50 bearish crossing. Our target is the 1D MA100 (TP = 16,850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Short
by InvestingScope
2
NASDAQ: Channel Up soon to test the ATH.Nasdaq is almost overbought again on the 1D technical outlook (RSI = 69.937, MACD = 245.100, ADX = 36.889) but that shouldn't affect it much as it is trading on the lower band of the November Channel Up. Leg 1 of the bullish sequence that made the Nov 15th HH extended to the 2.382 Fibonacci level. As the 1D RSI is identical to that Leg and shows that we are roughly halfway there, we remain bullish aiming again at the 2.382 Fib extension (TP = 16,840) which is marginally over the All Time High of 16,780. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Long
by InvestingScope
NASDAQ: Short term sell opportunity.Nasdaq hit our TP = 15,000 as since our last idea (chart at the bottom) we took full advantage of the whole LH leg of the Channel Down. With the 1D technical outlook now just slightly bullish (RSI = 56.567, MACD = -24.590, ADX = 32.703) despite the seven day rally, we are looking towards a short term pullback that will test the buying strength and investor commitment towards a long term rise. Consequently we are going short here, on the RSI rejection on R1, targeting the 0.382 Fibonacci retracement level (TP = 14,750). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Short
by InvestingScope
SQQQ's Steep Drop From Yellow Sell ZoneIn my previous update I emphasized that this yellow sell zone is a very strong resistance level for SQQQ. There was a lot of uncertainty surrounding the Friday jobs data, but the data came in very strong and almost double expectations. This led to a bullish rally for TVC:NDQ and SP:SPX that led to steep bleeding for SQQQ. I predicted that SQQQ will drop below the green support level over the next few months, these are my updated price targets on the way down.
NASDAQ:SQQQShort
by realchartchamp
NASDAQ: Below the 1D MA100 after 8 months! Attention needed.Nasdaq crossed under the 1D MA100 today for the first time since January 20th (exactly eight months) with the 1D technicals turning bearish (RSI = 38.504, MACD = -53.900, ADX = 32.187). Following a much more hawkish than expected Fed yesterday, the market is taking this opportunity to take profits on a relief pull-back after what was basically a non-stop rise throughout the year. From a purely technical perspective, the pattern that has the most probabilities to emerge is a Channel Down. Assuming a perfect symmetry on its LL legs, we expect the current wave to be the bearish leg that will take it on a -8.72% decline to the bottom of the Channel Down. We will sell as long as today's candle closes under the 1D MA100 and target a little over S2 (TP = 14,300). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Short
by InvestingScope
1
NASDAQ Moving Lower (1W)NASDAQ Weekly Price Chart After forming a double bottom in late 2022 the NASDAQ bounced and has melted up from its lows approximately 48% confirming that it was more than just a bear market rally. Most recently the NASDAQ has run into resistance (Light Red Box) and has descended roughly 3% past a minor trend line on the daily chart (not shown). Shorter term EMA's are beginning to even out (12-day / 26-day) indicting the beginning of a change in the direction of price action which will most likely move lower towards the target supports (Light Green Boxes). If the bottom support (Red Solid) is broken (pretty big "if" at the moment) then the possibility of breaking the long-term trend line (Yellow Solid) will come into play, however at this point it is premature to assume this comes to fruition. Relative Strength Indicator The major trend line (Yellow Solid) highlights the divergence from price action beginning in May 2022 and confirming the double bottom ending in December 2022. Most recently the RSI has remained elevated above the 70 line indicating a strong trend, however, the RSI has fallen back below the 70 signaling weakness. The RSI most likely moves down toward the major trend line and major support (Red Solid) from this point. Considering a cradle is in play with the resistance and trend line crossing, it will more than likely bounce with price action allowing the price to attempt one more move higher but will ultimately fail along with RSI failing to make a higher high and confirming price action. If the support and trend are broken it is most likely game over. On Balance Volume OBV bounced along with price and RSI in December 2022 and continued higher while making two consecutive bull flags confirming the movement. The OBV has failed to move higher after encountering resistance (Aquamarine Dotted) while retesting the major trend line (Yellow Solid) and seemingly has begun to move lower (emphasis on begun to). It is also notable to mention that a minor trend line (Yellow Dotted) has created a cradle that the OBV has so far failed to break. If the major resistance (Red Solid) is broken then it is basically game over, but we have two areas of support (Light Green Boxes) that will need to be broken first. The major resistance has had previous breaks which led to major downturns that can be seen in December 2000, February 2005, and September 2008 (all shown above). TDLR; Just want the meat and potatoes huh? Don't worry our entrees always Seem Legit. Price action recently hit resistance and has begun to move lower while EMA's begin to flatten. There's a 3% move down from a minor trend line on the 1D (not shown). The RSI is showing a bearish divergence after remaining elevated over the 70 line and beginning to move lower. The OBV looks to be forming a double top, and has run into resistance from a major and a minor trend line. Don't forget that this could take months to play out since this is the weekly chart. What Seems Legit? Possibly a bounce here from the support formed Jan - Mar 2022 in conjunction with the 12-day or 26-day EMA, retest the recent high, fail to break it and begin to move lower. It might just push lower due to the RSI on the 1D moving below the 50 line (analysis of the 1D has been posted). "History doesnt repeat itself but often it rhymes" - - Tap the 50-day EMA and carry on (2019) - Crash to the major trend line and carry on (2020) - Break the major support on the OBV and head lower (2000, 2005, 2008) Chart Key Yellow Solid = Major Trend Line Red Solid = Major Support Aquamarine Solid = Divergences Red Box = Major Resistance Green Boxes = Supports / Target Areas
NASDAQ:NDXShort
by Seems_Legit_Research
1
NASDAQ: Hasn't yet completed its technical pullback.Nasdaq has been pulling back since the June 16th High, which was a HH on the Channel Up pattern, but this sequence isn't yet completed. The 1D time frame remains technically bullish (RSI = 62.049, MACD = 275.090, ADX = 32.676) but the price hasn't yet reached neither the bottom of the Channel Up nor the 4H MA50. We remain short targeting that level (TP = 14,600) where we will turn bullish again (TP = 15,250) unless the 1D candle closes under the 4H MA50, in which scenario we will re-sell and target the 1D MA50 (TP = 14,300). The 1D RSI however made a hit and rebound on the HL trendline that is in effect since December 28th 2022, so it is possible to see a rebound without going lower, so in that case only buy after the R1 breaks and target the R2 (16,000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Short
by InvestingScope
13
NASDAQ: Correction aiming at the 4H MA200.Nasdaq reached the R1 (15,300) last week, a highly important benchmark as it is the March 2022 Top. Being overbought on the 1D timeframe (RSI = 71.117, MACD = 398.240, ADX = 42.100), the current correction comes as a natural consequence. The target is the bottom of the three month Channel Up. Ideally we aim at the 4H MA200 (TP = 14,600), which has been previously tested and held as Support on May 4th and April 25th. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Short
by InvestingScope
6
NASDAQ Rejection on March 2022 High gives a strong sell signalNasdaq got rejected exactly upon touching the 15285 Resistance for the first time since the High of March 29th 2022. This is a strong sell signal and can be confirmed after the RSI (1d) crosses under the MA line. The long term pattern is a Channel Up since the beginning of March and the MA50 (1d) has been intact since March 15th, which makes the index exceedingly overbought. Trading Plan: 1. Sell after the RSI (1d) crosses under the MA (white line). Targets: 1. 14300 (Channel Up bottom and near Support 1). 2. Extend to 13520 only if we close a (1d) candle under the MA50 (1d). Tips: 1. The RSI (1d) is printing a pattern similar to the tops of February 2nd and March 31st. Both reached the 1.618 Fibonacci level, which was our target on our last Nasdaq call (see chart below). 2. If we do break below the MA50 (1d), the MA100 (1d) could be a valid target as it has been untouched since January 20th. Please like, follow and comment!! Notes: Past trading plan:
CAPITALCOM:US100Short
by TradingBrokersView
12
NASDAQ The weekly charts tells you what you need to knowNasdaq / US100 is approaching today Resistance A (15280), which is the High of March 2022. The pace of the rally since the start of the year has been so strong, in fact since the week of April 24th the index has posted only green weekly candles (8 today), that the 1week RSI reached a level (76.75) it last hit almost 2 years ago (on August 24th 2020). In the last 6 years, every time the 1week RSI hit that level, Nasdaq made a top and corrected either immediately or in a few weeks. On all those times, there was a clear Support Zone for the RSI to place your buys (47.90 - 52.90). Also on all cases the price corrected to at least the 1day MA50. This isn't primarily an invitation to sell what is obviously a bullish trend but rather take some profit of the index (or shares) in order to lay off some risk and enter again at a better price as suggested by the 1week RSI and the 1day MA50. Our long term target is the 16840 All Time High (Resistance B) by December. Previous chart: Follow us, like the idea and leave a comment below!!
CAPITALCOM:US100
by TheCryptagon
2
NASDAQ: Approaching the March 2022 High on Fed week.Nasdaq is having an enormous rally since last December and the Double Bottom, with even the 1W time frame turning massively overbought (RSI = 74.522, MACD = 645.290, ADX = 53.716). The Double Bottom was formed on the Zone of the All Time High before the COVID crash. The market has filled a massive gap and this is why it has been rising so aggressively since the start of the year. History has shown that overbought levels can extend rallies for a short while before pull backs. The Resistance ahead of us is R1 (15,280) and the Fed Rate Decision on Wednesday will be critical for the trend of the next 4-5 weeks. A closing above it can target the ATH regardless of the massively overbought technicals. A rejection can start a medium term decline near the Demand Zone. That would be the new entry point for long term investors. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:NDX
by InvestingScope
14
NASDAQ: Bullish as long as the 4H MA100 holds.Nasdaq is having a standard technical pull back turning the 4H time frame neutral (RSI = 52.452, MACD = -2.890, ADX = 30.912) but the 1D remains bullish as since March 13th, the index has been trading inside a Channel Up pattern. As the chart shows, every crossing under the 4H MA50 has been a buy signal (2 times) unless when the 4H MA100 broke as well, in which case the downtrend was extended to the 4H MA200 (2 times also). The 4H RSI has a clear Buy Zone and it just bounced on it, so we're already bullish (TP = 14,950). If though the 4H MA100 breaks, we will open a short term sell as well, targeting the bottom of the Channel Up (TP = 14,000), where upon contact with the 4H MA200 we will add a 2nd buy. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Long
by InvestingScope
3
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). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US100Long
by InvestingScope
1