In case you're wondering why it bounced, NQ went oversold on MFI. More than likely the algos will buy here and do another pump and dump
It's over, no more pumping can save this. Pink line is 3 year long megaphone.
Please do your own DD - this is just my understanding so far. When will this play out? Perhaps a trillion dollar company could trigger a violent drop? perhaps pure TA play
Nasdaq has now moved solidly higher on a good trend line and has good support below (green boxes). Looks like it will try to re-test its highs again. Opportunity for some long profit here anyway if support holds. Hourly 200MA is rising but careful as other MA's are lagging below.
This just lines up so damn perfectly, one more rally from where we are and that's it, MAYBE a throw over to fakeout but I don't think so, I think it will stop there and I'm going all in on shorts.
Had some calls overnight, flipped them on open because NQ MFI went overbought pre-market. Seeing some mixed indicators on indices, done for the week and staying cash. My prediction is whipsaw, lol.
Nice buy opportunity in amazon with the wedge and fake breakout in play of the bear flag. Tight stop ahead of earnings season and Netflix results
100 point gap fill on the cards ahead of Netflix results tonight. Intra day trade
I had the "pleasure" of walking through a Best Buy today(/s): -Although I was slightly impressed by their revamped sales floor/merchandising updates(definitively a very expensive refresh); their limited 2 week refund policy disappointed me compared to the industry standard(>30 days). -I walked past several "associates" who either avoided eye contact, or quickly...
Good buy here on nasdaq before the breakout of the inverse H+S with support underneath. Take profits after breakout around resistance above if possible
For the people wondering why we bounced, NQ MFI went oversold this morning.... so it had to bounce. In any case, huge buy volume indicates another pump and dump coming.... not sure if we get another leg down first, but it will happen because the computerz never lose money
Nasdaq appears to be in parabolic move, if we draw a channel we can see there is still plenty of upside. NQ just keeps bouncing off every support it finds and all moving averages are extremely bullish. I would say we could go at least to 11500 and higher. The only exception to considering shorts would be extreme divergences on the charts as we go along.
Depending on alot of sign it seems like NQ1! will be increased soon.
📌 The point of this configuration is that the highs have been lost, since the effectiveness (right..) of the stimulus and the extension above that has NOTHING to do with fundamental or economic reality. This influence can be seen in DAX which cannot make use of the highs. Secondly, there is the threat of Covid and Brexit. In other worst, the risk which triggered...
The markets will not fall until the big tech stocks do, and they are looking ripe for failure from here. I will highlight a few things I see on the charts. Strong bearish RSI divergence on the RSI and a classic rising wedge complete with an exhaustion overthrow. These features present themselves on the daily chart . On shorter time frames, we may even be looking...
Key trendline resistance here. Cool down and run
Depending on alot of sign it seems like NQ1! will be increased soon.