Are you ready for trading today? SPY Cycle Patterns for this week. 9-6: Breakdown 9-7: Carryover --> 9-8: Inside-Breakaway 9-9: Breakaway 9-10: Rally Follow my research.
Higher lows are required to provide the Flip into Higher Markets off of the Lows at the 390.85 Level. 394 is backtesting Support 399.50 is the initial Resistance. Powell Speaks at 9:10 AM EST after - 8:30 AM EST to provide both Initial and Continuing Jobless Claims. Chicago Fed President Charles Evans speaks @ Noon, followed by Consumer Credit @ 3 PM...
all buyer target is fibo 61%:13000 and 2nd target is 14600 so strongly advide 90% looking for buy and hold it minimum to 13000...only under red arrow after pinbar comes we can sell with sl on pinbar high good luck
Its hard to call the bottom call from last night, as I mentioned only my gut feeling of the low being in, as the markets were on the verge of breakdown. "Its really Do or Die territory. My gut feel is telling me we will hold it, but you dont trade based on any feeling..." I did take 40 points and run and didnt trade much this am, working on something exiting, hope...
So far so good since my last night update from the lows. Next stop is 12280 Above 12300 and we are off the races
Nasdaq can hold above Andrew support line. And just break through the resistant. My target is up to 12.600. I assume ellitott wave 5th is done shorter than expected. now in ABC wave beginning.
Here is a zoomed out chart of the previous chart I just posted Its really Do or Die territory. My gut feel is telling me we will hold it, but you dont trade based on any feeling... P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well. Thanks in advance!
Markets are testing the most important support levels, NQ here and the ES 3985-3900. So far if we hold here on the NQ, we should see a strong rally out of this levels, so it's must hold. Breaking below we should see 10500 imo P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well. Thanks in advance!
NQ has to break 12075 to confirm the triangle and resistance breakout This is what I was worried about for the past several days, the price action is very weird, I dont see a good bullish setup but more potential of a breakdown
August did not end well for Buyers. Rate Creep across the curve applied pronounced pressure. RISK OFF is in trade across all Sectors within the X Complex. TNX from a Rate perspective - Rate instability and lower rates? At present, No. Bond VX is kicking up. It is however not damaging Banks as of yet, Financials are hanging on... slightly. Will the VIX Spike...
Daily MFI oversold on NQ. Just something I noticed while flipping through the charts
NQ held the lows after the open and made a higher low on smaller timeframe - first target is 12200, then 12300 Main resistance is at 12320-30 now, needs above that resistance cluster visible on the chart. Ideally we at least hit 12700 and I would really want to see a higher high by mid month just to screw everyone out! A higher high and higher low on Fri makes...
despite down move personaly i belive nasdaq after some zigzag and down move easily can reach 13000 for coming days wait buy PINBAR comes then pick low size buy and hold it 7-8 day to high good luck
there is going to be no gap down after the labor day; NQ is going to make this pattern and then fall
This seems like another push lower on Monday. Very tricky staying short over the weekend, can explode on Tuesday, especially after SPX held its main support
It should test the neckline again at least. From there it's anyone's guess, but I'm leaning bearish. September Trip witch is right around the corner and the market pivoted down right at August Monthly expiry. Perhaps it slides into Trip Witch and bounces out. Should be another inflection point either way.
We swept liquidty and respect OB, a bit like yesterday price action as ICT showed could be a potential long but i will not trade this one since it's friday
Want a move into the channel after the test, lets see if we can get there into the close