With a back test in an attempt to gain the new ATH level as support. Found short term resistance at the 2 hour UBB. Supported by .. .. the Federal Reserve. Tech earnings count down.
If you zoom out on the Nasdaq using a 13D chart, you'll see a clear 5 wave sequence having recently completed. This argument is bolstered by both wave 3 and wave 5 which are 1.618 extensions of wave 1. Wave 3 and Wave 5 are both identical in length. Using this Wave count you'll also see a myriad of confluent fib levels, extensions, etc; but I'm trying to spare you...
When it has been a risk-off day recently the market has gapped up during the London session only to reverse trapping the longs. Yesterdays we closed the most recent gap and if we can get out of the initial balance we could be travelling higher towards resting liquidity sat at 14500 on the futures (NQ)
There is far more to "markets" than Charts. Risks appear as IF unknown when all eyes are focused upon Charts - this has been demonstrated time and again. Yet it remains mostly ignored. There are immense Risks to the Equity Complex. Today is a Prime Example of Wall Street getting its fills for the upcoming correction - it will be swift, violent and...
With Impeccable timing, Telsa Witch Kuh Kuh Woods increased the "innovation" ETF's holding of Tesla. TSLA is presently off 2.22% and with a break of 500 looing large for the EV edifice and Consumers pulling back on all segments of spending, TSLA is ripe for a large decline. Crude Oil's range has expanded to 42-77. This is not going to assist the TESLA Witch no...
The Potential for a Squeeze in BitCoin is rising. 30,000 lets go and Sellers will indeed press their luck should it fail. Selling throughout the EU Session has gained momentum as the VIX broke it's UTL by 4 Ticks. We had issued a cautious note on Indices into July 20-22, 2021 as tensions were beginning to mount in the South China Sea. RTY has failed IT...
I believe we are crossroads from a leg up or down continuation. NQ just broke the upward channel its been trading in since MAY 2021. I am expecting a retest of the lower end of the channel in coming week. IF we enter the channel again, it would be a valid bear trap and we can see 15k again on NQ. If we create a downward channel from here. The 6-7% pullback from...
The market is reacting to a round number 15k. It is heading to retest the previous consolidation area which is a confluence with 20 DMA. There is no panic sell yet, a methodical correction. I expect the price to remain in the outlined range. The mega tech earnings are coming at the end of the month. An acceleration to the downside may happen if the structural...
AAPL had a Large Participation in Call Activity. As the VXN approaches 19.10 Traders should pay close attention, as should this level fail later today: AAPL will be targeting Micro Fibs between 150-155. The VX broke 16.90 and traded 16.80, this will place pressure on the VXX, UVXY and SPXU. The ES has two gap fills, one just above and one well below. We will...
We are Neutral for Today, VX during Roll should continue to come under pressure. Should the VX break 16.90 we could see a quick flush down to ~16.50s. Ahead of Jackson Hole, there will be an effort to continue the Trend - which remains Bullish for now. We anticipate a blow off ahead of VX roll. The FED has a high probability of announcing tightening in varying...
Toughest Pattern to play and a repeat of last July. NAS resistance at the ATH 2 hour UBB. Backtesting the 2 hour MBB. GOOG, MSFT, AAPL strong while FB consolidates
The Chart illustrates both the potential Target for the QQQs high from a positive Draw as well as the convergence from the Negative draw. Where would this leave the NQ? 15,755 ~ Something to consider as the prior Squeeze ahead of the Algo's level for Sell Scale to Open began a 500 point vertical move @ 4:02PM EST. It created the largest Gap and Trap in...
Nasdaq rose a bit higher to the 15000 level and showed weakness. Nice looking RSI Divergence at the new ATH. This may possibly be the correction down starting today.
us 10 year yield and inflation go up sharply (can effect in next 1-2 day) so nasdaq must go down ,close sell sooner than fibo 61%=14730 is stupid fibo 161% show nasdaq down target is 14300 red line= my predict about market way ,not for trade advice=sell near 14930 with SL on high (4-5 point above high) with trail stop =60 tp1=fibo 61% tp2=fibo...
Nasdaq has been running up very strong recently. We are getting a Double Top look at the new ATH. Possible correction this week.
The Nasdaq is about to cross the resistance line at 14883 points, which means that new all-time highs are coming! We expect the index to further rise until at least 15001 points, before new corrections come our way. Keep trading!
An increasing level of concern is rising within the Bond, Equity and Real Estate Complexes or Markets. I prefer Complex as each "Market" has a number of entities using their control mechanisms. The Equity Complex has a number of headwinds approaching for Technology (NQ). Yields, specifically the 10Yr Treasury Note has been a reliable Instrument for an Inverse...