We are now expecting the Nasdaq to trade higher than and directly surge past the resistance at 16768 points. The bullish behavior is a clear indicator that the course does not want to fall all the way down back to 15295 point. This, however, remains a viable option within the frame of the alternative scenario which receives a probability of 40%. Start you week right!
This last big push up on ES has followed fibs and 100SMA again near perfectly. Traded back down nearly exactly to the halfback mark in just a handful of days; however, the move back up was even quicker... Was this so the EOY pushup is that much more powerful? Let the big boys take some profits and then reload? The tell will be if we can hold the 4662ish...
So, Nasdaq100 has been juggling between my demand and supply area. The decision between the bulls and the bears has been a tough nut to crack. Now—we have head and shoulders with double tops on both the daily and the hour 4. What now? A pullback or continuation bears? Trading isn't fun but you learn from it!
The Divergence is very clear. And Not a Sing of Strength, the AO makes this clear. Distribution after distribution... Price itself is becoming Non-Responsive at these Levels. And yet chasers continue to listen to Tom Lee and CNBC. __________________________________ A final distortion might not be forthcoming. We will see, as the Distribution Patterns have...
Hey guys and ladies, So… December probably had it in for me. We have what looks like a Hn's forming on the daily. The weekly on the other hand, might just be going back to 16650 it's previous HH. Before any other bias is adhered to we might have to wait till next week. For now—as a swing trader I might just stick to listening to these higher timeframes.
US100 has started an upside move after a big drop. Currently, price is approaching to the resistance level around 16460, which has been tested and pushed the price to the downside in the past. I expect a downside push from the red resistance level to retest the yellow level around 16120, and if there was any bullish signal on the yellow area, we can expect a...
All indices overbought on MFI, but not on RSI. FDAX has yet to fill the gap above so I think the market gaps up again tomorrow. Probably a whipsaw day today though because they gotta sell of a bit to get MFI down. Also a chance of a melt up here, because that's what always happens after a selloff. Lots of stocks hit oversold on daily last week.
Nasdaq100 15300 might just be hanging. Since—the weekly has a "I'm going to pullback to create a new Ath" vibe. So, I'm going to wait to see if that's the direction the market is going. Watch to find out my stance. Remember, trading could drive you mad!
Clear Range with a Test of Resistance. Range in Channel - "7" trying to keep up on Pre-NYSE. Interesting Day ahead as Wall Street sets up the next Sell. __________________________________________________ VXN the Leader.
I created this indicator to combine several market internal and sentiment indicators. The readings seen currently are below the March 2020 Covid sell-off readings and approaching what we saw in Dec 2019, which was a pretty bad month for that year as some of you might remember. This indicator can act as both a warning and as a 'get ready to buy' indicator. ...
Short term bullishness into supply with weak momentum should take us to T1 or T2.
So, it's a beginning of another week and I'll not make mistakes made last week. Here's my bears verdict Remember, trading is really risk, but fun!
Back test of the neckline and rejection has accelerated the downside move on Friday. Sell side in firm control so far. The H&S formation at the end of the upside move and its unfolding suggests further decline to come. There is some sign of dip buyers lurking at the 50% ret. They even managed to close above S1. This is a mechanical reaction of the Algos so...
Do OR Die right here. Good Luck Flamingo participants. The Sports Bok Opens in 24 Hours. ______________________________ 100 CASH and staying that way until NYSE open. Oversold, but - that State of Mind rarely persists for long lately. _______________________________ There are Clear Divergences on the 15 Minute Chart. Trade em safe Sunday. Monday NEWS...
NQ's Range blows out to 700+ Ticks, widening once again. Like Oil, Traders are keenly focused on the H&S Formation. ___________________________________________________ NQ is deeply oversold on the ST TFs, that said... Further corrections, very steep corrections - they occur from these types of Weekly Structural Conditions. Momentum is Negative, Trend is...
The Negative Structure continues for the NQ. RSI STO PP MACD PO all are trending down on the Weekly and Monthly TFs now. ____________________________________________________________________ Friday's on close Profit Taking may or may not have been premature, we'll know by Tuesday. Buyers, Dip buyers are absent, it has been merely Sellers closing Positions at...
Simple chart - There is a small dotted green line up top showing you divergence in the RSI. You can see what happened, Bonds went way up. Now we have a much bigger divergence the other way in red. So this sell off that saw the ES touched the 4500 area three times this week reminds me of the September low at 4250 same price action - which thrust up 500...
Taking into account recent moves be careful with possible long on Monday, and perhaps some news. Not going long but not holding much for now.