We are getting closer to our second target. We believe we will see it this week. Nothing has changed on the management of the trade. Stay tuned.
We are still waiting for the $NQ to find out zone around 4275. We like believe price will trade above it and if it does we will look for a trigger on a lower time frame to get involved to the upside. Patience will pay on this. Watch our video on this: youtu.be
The chart looks great on the daily as well. Look for today's volume and closing price for extra-confirmation of trend reversal.
$NQ never trigger and now may present a good opportunity. We are waiting for a close above 4275. Once this takes place we will look for trigger longs. HAPPY NEW YEAR!!!!!!!
V's are in for the season. As we said on the $ES chart...the $NQ is in full buy mode. We are looking at a test of the highs and then possibly the 4400 area. Keep it on your watch list.
NQ sits above long term channel resistance, and is likely to fall back into the channel this week given the pressure on NQ's weekly RSI, Stochastics and MACD which are rolling over from recent tops. High momentum names like Netflix (NFLX) and Tesla (TSLA) continue leading the topping process on NQ, anticipating the end of US QE in October. Visit goo.gl for...
BUY STOP at 4076 hoping for a 3-4 point push higher.
This is a nice move in the NQ1! If you weren't positioned short last week you most likely missed this move. We were not short and since all the indices are heavy we will aggressively be shorting any bounces. Part of being a successful trader is not being married to one side of the trade.
Nasdaq still moving up. We had a nice rebound from the bottom of the (steep) yellow channel. We just hit first major resistance: top of the blue channel. Even if price hits the next resistance - top of the yellow channel - we will probably observe a price to indicator divergence. Momentum is still quiet strong... and don't forget that this is a weekly chart....
After a "fall from cliff" in the Q4 of last year, $NQ made a bullish pennant and broke out beginning this year. Reaching the 22 (78.6 ret. of the 2013 high). Dropping down to this year low @11 (78.6 ret. of this years high), $NQ creates again a bullish pennant, ready to break out. The breakout level to watch is 13 with a target 19.50-62