NQ has been far more challenging due to the Distribution within Growth Sectors. It has been extremely Complex. ______________________________________________________________________ 1B can have extreme VX but should be contained from 15911 to 15956. We won't know until it trades. ______________________________________________________________________ Three is...
NQ bounced off of the channel line, I said it would pre-market because it always does. Gotta admit I had my doubts mid-day since the rally was really late today. Algos still doing pump and dumps, the volume shows they have not quit yet. I guess they're gonna keep NQ in the channel by pumping the living crap out of TSLA, AAPL, and chip stocks, lol. Plus all my...
Waiting for wall street to clear out inflation hysteria. Is inflation coming to kill us...? maybe it is. But what do we care? We are wall street!
I've been observing some correlation between Bitcoin and Nasdaq. It seems that every time Nasdaq starts to sell off a bit, Bitcoin does as well. Could Nasdaq serve as a possible indicator for Bitcoin? Something to continue to monitor.
I'll be taking today off from Commentary until the Long Weekend for Updates. Here are the 2 possible structures: One implies we are in 3/5 of larger 4/5 Correction - this would be a dramatic selloff gaining momentum. OR We remain in 2/5 of the larger 4/5 which would imply a retracement. ITs' Friday. Very Low liquidity... it could be another large down Day or...
Today, the Nasdaq 100 index dropped below its key technical level at 15 538 USD - which currently acts as immediate support/resistance. We think this is a very bearish occurrence and one that can potentially mark the beginning of downtrend for NQ1!. This view is also supported by bearish technical indicators on the daily and the weekly time frames. Additionally,...
Short term overbought condition may well be relieved on the PPI Release as I expect it to be Hot @ 10%+. Of course, this will depend on whether or not it's a Legit Number. In reality, 10% is a level of concern for the Operators, a serious one. Rate sensitivity may well return today, as the Range expands. 15479 to 16036 - 550 Ticks+. Unable to cross the .500...
NASDAQ 100 should begin the C wave correction down now that the B wave bounce looks finito.
Into the Gap Fill... which completed. The 15885 is now Resistance into 12:30 PM EST. It has been an exciting day with intense VX as indicated prior to the NYSE open. EU Session closing from 11 to 11:30 AM EST was a SELL to complete the Gap Fill. Typically the Second test has come into 12:30 AM...
On the 15 Minute, we see the Gap Fill as the dotted Green Line below with the Pullback Objectives into 10 - 10:30 AM EST as has been the pattern Monday / Tuesday. This appears to be a 2/5 corrective pattern for the NQ with a Larger 3/5 decline ahead. The attempt will remain to Fill the Daily Gap IF price can cross 16036... We anticipated the RT after a nearly...
Chart for the Hourly Indicates a Pivotal Juncture for Price. A break would be problematic. Gap n' Go OR Gap n' Trap is clearly in trade on the Hourly. We moved up nearly 700 Ticks in several Days, the Objectives are higher, but it will ALL depend on the 8:30 AM EST Data. __________________________________________________________ No reason to guess, simply...
The 4 Hour shows a breakdown in the Cloud projected moving forward and with the Cross again on the 4 Hour of the Momentum and Trending Clouds showing signs of Indecision, this can resolve lower into Thursday. It may well be a situation whereby "Prices Paid" is given the lead as opposed to BS BLS...
As long as the 10 Yr Yield is pulling back into Support, NQ will rise. We have a Large overhead Dialy Gap which will see increased probability of the Fill when the NQ crosses 16036. ______________________________________________ Although Price is rising with the Momentum Cloud below the Trenching Cloud, the ground higher to the Trending Cloud is...
but be very careful as you know the NQ can do anything at any time sell micro contracts and not Emini
NQ corrected nearly ~9% prior to the BOTs returning it to the Opening Gap Fill. Wednesday and Jerome Powell's confirmation hearing @ 10 AM EST today appear to be the Front Run for whatever lay ahead for EPS for Q4. IBD Economic Outlook @ 10 AM EST as well. $.4.525 BIllion in 4.5 - 7's for Coupon...
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Thankfully, today proved to be a near-perfect Hit on the Weekly 002 Extension @ 171. The Sellers at Lows were methodically run as were Sellers up the Ladder. ________________________________________________________________________ Acute Selling gave way to the "Magic Monday" - a new phenomenon where the ALGOs no longer wait until "ALGO Tuesday" - but instead...
410 was exceeded by the Extension from Last Week's Price Objectives from the Week's High to Low: 15510 15355*** - Front Run Pre-NYSE 15181 15104 15008 14854 Typically we see the Gap Fill into 9:30 AM EST. It is a lower Probability today as the Intra-Day Extension was exceeded @ 410. The ES as well did a number on the 46's and then 34s. Puts will be...