It's a similar flow to SPY. Right now it is not even strange charts. I recommend rebalancing the stock within a few weeks.
Remember when I said the best time to buy calls in a meltup is when MFI is oversold? Yeah, Pepperidge Farm remembers.... I think MFI is headed to overbought, NQ probably hits my upper trendline. Staying out for one more week. Good luck.
Idea for ARKK: - Classic Wyckoff Distribution. - Drop begins June 30-Jul 1. GLHF - DPT
nasdaq still going. hit 14600. New York continues to push it higher. Overnight retakes some gains back. According to my channel it's ready for some corrective behavior. Can't be sure when.
Idea for NYSE: - NYSE top and reversal structure: Rising wedge breakdown and re-test the support, high % short setup. - As we know, market breadth collapsing as SPX and NDX make new highs on low volume. - Markets are being cut down at the knees, SPX will be last to fall but it is coming. - Too many bearish divergences to not be short the greatest asset bubble in...
nasdaq is showing continued strength and is still making some large bullish impulsions. It recently touched the top of the channel it has been riding in. Then it made a consolidating double top. Never say a market can't go higher, but a while back I did say that 14500 was a possible target so that would be kind of neat if the markets picked that area as a turn...
TF: D I think price may come down to retest $14,160 areas See my previous NQ idea here:
Overbought, but it can stay that way for a while. WOrth mentioning either way
Not trading this week, but I just wanted to point something out. Last week, I said the best time to buy calls during a melt up is when MFI gets oversold. MFI was oversold premarket today. So there you have it. Pay attention to the indicators, even in a melt up. RSI is now way overbought, so I wouldn;t chase it now.
There is strong resistance ahead of the apple and there is a potential for profit taking
The Nasdaq is pushing and pushing while looking stronger than ever! After fully clearing the resistance at 14225 points, we expect the tech index to further reach for quotations around 14680 points. So, everything is more than fine here. Good times ahead!
Previous setup published worked for the aggressive entry but price bounced from the lower support of the wedge - the conservative entry wasn't triggered. New setup updated as a triple Higher High has just formed while the RSI divergence remains. I expect the lower support of the wedge to eventually breaks this time.
Idea for QQQ: - Wave frequencies synced. - Distribution cycle mapped. GLHF - DPT
Idea for QQQ: - Rising Wedge breakout to the downside, then obligatory re-test. - QQQ Three Resistances Confluence (ATH, Ending Diagonal within an Ending Diagonal): - Inner: - ATH fake breakout can be seen as UTAD on Distribution. GLHF - DPT
If you were to look at my recent ideas you might be thinking to your self that all I trade is NQ. But I can tell you I also trade ES, RTY, CL, GC and sometimes VIX. Howevers, right now NQ has been making me profit after profit so why stop on a good thing I say! You can see my long trigger. this is if price breaks above black trendline. This had a false breakout...
I just don't trust bears with big moves, but still a leg down is on the table. Daily channel is still bullish, still signal is Flat to bearish, so I'm leaving this as flat. I see more of a whipsawing than a bearish move. Watch for channel bottom for a possible are of rebound.
The NQ one hour time frame is in an up trend. The market is making higher highs and higher lows. The market is in the buy zone and has an up Fibonacci with an extension price point 14924.25 about +805 ticks above the market. The market just hit the old Fibonacci extension and I am expecting the market to pull back bearish to a low price near a known level of...
Idea for Macro: - Financial sector selling off heavily. - While it's early to call a bear market, the exhaustion gap at an all time high is a reasonable signal for market reversal. - XLF, XLE and FAAMG have been holding up the broader markets at this high... Cracks appearing? Underlying conditions: - Institutions will invest based on 18 months into the future...