A new February high was set in pre-market. Kudos to buyers. The spike ran some stops but the price quickly retreated offering a short opportunity around 7070 level (top of the recent balance). This is a typical and a high probability setup to fade a move. When the price is grinding up shorting requires a precise timing and a lot of patience. But when the top is...
I'm watching the NASDAQ as it's approaching an area where I would like to take a short. I think that it is possible the NQ is still due a violent wave C. This is because the volume on the leg down is much higher than on the rally that has followed. Therefore I am expecting a failure to achieve a new high followed by a move to down to find support. If we get a...
No call this week Prior Week:
The recent balance, last rectangle on the chart, remains intact. The price is on the path to retest December POC and December high. These are objective targets based on the market action theory. Return into the previous balance would suggests some weakness. It remains to be seen how the price behaves if that return happens. So far the bullish bias is intact as...
The trend looks very bullish clearing and holding above the 6845 level that I covered in my YouTube Video here: youtu.be . The 18 day sma is above the 50 day sma, signaling the trend is up. I'm expecting a push towards the 7000 level (2/3 back from the ATH and reversal from the sell off) this week as long as we hold the 6775-6800 area. Might overshoot to the 200...
Next week will be perhaps the most important week of the year. Given the number and size of companies reporting, I can't emphasize enough to keep your seatbelts on. Thursday is the biggest earnings day. Important Economic Events that happened last week: 1. The Economic Forum in Davos was downright pessimistic. Maybe a little bit overdone, but still these are...
This is the most spectacular rally I've ever traded. We cruised above last week's $46 expected move. Actual Move? $74 So we broke outside the expected move, and yet this coming week's expected move is only $41? What's the deal? Well it's only a 4 day trading week. So the options market did increase their volatility. $41/4 days = $10.25 vs. $46/5 =...
Keeping an eye on this pattern. You could take a high risk short from here but I prefer to take a partial short at neckline break and add a bigger size on a neckline retest fail. Will be keeping an eye on price action on a return to neckline if/when it does break. As you can see it faked a break already so would need to proceed with caution if you wanted to play a...
A very large bearish engulfing bar has formed on the hourly charts after a failed attempt by bulls to push price higher early in the trading session. This has very bearish implications and near term bias remains bearish.
Here is a complete dissected view of the Nasdaq futures market action from the recent all time high to the recent low. This is how I process any instrument though the market action view. It works well on any timeframe. Whether you are a day trader or a swing trader. Back to Nasdaq. I have marked important levels to watch. The bulls remain in a firm control above ...
Nasdaq E-mini futures is flirting with a trend line while on its way to 7000 mark. This trend line has provided a good reaction and most likely is being watched. There is a potential resistance that would cause a pull back. I need to emphasize the word potential. Any level is only potential. Considering that upcoming holiday it may lead to a short term risk off....
The Nasdaq has a good setup for a rally. The overall price action has been supportive and with the Minor Pivot Stack in place this bodes well for a push higher. The Monthly Pivot Range is close underneath which almost formed a Super Pivot Stack. With the Daily Pivot Moving Averages turning up, this could be a significant move. Go long on strength...
Here is another look at the rising wedge but this time on /NQ. It is nearing the apex so I would like to some a break out in either direction soon, and I think we will. This is a pattern has bearish implications. It goes without saying, but anything is possible. Still, I am not discounting the bearish pattern.
NASDAQ:ETSY Ignore that purple line, I didn't see it there when I posted the chart. Title says it all. Declining volume, Bear divs, Overextended, Head and shoulders, Nasdaq stretched overbought for the past few days. One catalyst and this will drop just like last time. Set your stop loss at new highs, easy play. I'm playing this with ITM puts and my target...
Ascending triangles tend to be continuation patterns. When an ascending triangle fails that can portend weakness. I have already posted an ascending wedge and overhead resistance that would be downward pressure on the markets. This bullish ascending triangle was the silver lining in that cloud for the bulls but with a failure of that pattern, will it finally be...
Indicators are conformation tools of price action. I like Volume, both Option & Stock Volume.. and technicals.. nothing fancy.. Simple supply and demand.. But the SETTINGS of the indicator of your liking will set you in the direction that should allow you time to execute a profitable trade.. Never rely on any indicator alone..only in tandem with your...
aqui tenemos un analisis de el nasdaq el cual esta en su tendencia bajista , confirmada por un canal descendente , si tenemos una ruptura del canal y luego de la resistencia , podremos esperar una recuperacion de los futuros emini del nasdaq por ahora nos quedamos con la expectativa!