NQ is a short here. Sentiment is euphoric and price has broken down from the wedge. NQ follows a 27 day cycle from high to high and from low to low. We have fulfilled a high on the cycle date. Short from here. We are heading MUCH lower.
Nasdaq looks too strong, again. We had suspicions it could offer us a dip (we like to buy those) but is now back in the channel and looking ready for new flights, even for potential new heights in 2021.
For months we had been hedging our bigger accounts by buying Nasdaq (at a ratio of 3) and shorting other indices (at a ratio of 1.2) and the return has been...
I mentioned this before close, but NQ very rarely just breaks one blue trendline, it usually goes for at least 2.
No longer oversold, so it could go down despite not being overbought. Algos appear to be pumping small caps, not tech or FAANG.
NQ is the only index future that's red right now (though barely).
Note the new magenta channel.... not predicting a...
Good morning traders! Today we are going to talk about the situation of AMD, since it is at a critical level, generating an interesting behavior.
What can we see in this chart?
🔸Well, first of all, clarify that it is a stock that is at historical highs, in a marked upward trend.
🔸What happens in all clear trends is that there are impulses and corrections in...
Oversold on RSI and MFI, but tech has been weak lately as the market pumps the living crap out of small caps.
Not really sure what to make of this, maybe wait until at least one other index goes oversold before buying calls?
We are actually attempting a SELL on the biggest, strongest, wealthiest Raging Bull machine: The NASDAQ!
We will enter under the 12200 level and we do see a possible correction to 11900 and even 10900 but PLEASE PEOPLE UNDERSTAND that this is the NASDAQ, an asset we prefer to find opportunities to BUY, not to sell. This asset has given so much to us we are even...
#NQ1! | Looks like a drop?
#NQ1! Candle of October just taking a simple #fibbonaci_extension at 127.20% looks like an interesting and potential drop.
Not yet confirmation but worth to look it carefully.
NQ touching overbought on MFI and RSI, RTY and ES are very overbought on MFI.
Might still get the usual Tuesday gap up, if we do I might enter some short positions.
One of my followers asked me how do you make money in a market melt up with options?
Wait until MFI gets oversold then buy calls. Usually the biggest up move happens when MFI is oversold. Note that NQ doesn;t usually go that far down, so I drew a line for my buy point.
Both ES and NQ MFI went overbought, that is a a sell signal, but I already told you guys not to hold long positions overnight yesterday...
NQ chart is almost identical, so not posting it.
Got rid of the overbought condition and bounced hard off my support line. Still channeling up but tomorrow is Thursday, the weakest day.
All cash now, not sure which way this is going.
NQ RSI is way overbought, probably not a good idea to chase this.
Couls till gap up tomorrow since MFI is still not overbought, but definitely not worth the risk of holding anything overnight.
NQ tends to bounce off of oversold condition. Looks like a whipsaw holiday week.
I did predict a sector rotation from tech to small caps last week, and here we are...
I wouldn;t chase tech or hold it over the weekend...
Maybe they do the whole "vaccine" tech selloff again Monday. That would be hilarious, 3 weeks in a row.
Also, today is options expiration, so expect a whipsaw. All other indicators in the middle.
indicators are in the middle, but it looks like a slow drift up and the Asians really like to pump on Monday nights, so be careful about shorting anything overnight...
Small caps (RTY) still overbought, so we could see another sector rotation into NQ to make it go overbought....
![NQ1!: [NQ] Oh NO I didn't...](https://s3.tradingview.com/p/Pf2aDkUT_mid.png "[NQ] Oh NO I didn't...")
