NASDAQ 100 E-MINI FUTURES
NASDAQ Short-term pull-back possible. Know when to buy.Nasdaq (NDX) delivered an excellent buy signal last time we looked at it (May 30, see chart below) and is approaching our 19900 Target:
The pace of this rise however has been very strong, certainly stronger than the December 2023, which we used as fractal comparison, and the price already reached the top (Higher Highs trend-line) of the 1.5 year Channel Up.
At the same time, it hit the 2.0 Fibonacci extension level from the last Lower High before the break-out, while the 1D RSI reached the 78.00 overbought level. On the past fractal, the short-term correction that followed, bottomed on January 05 2024 on the 1.5 Fib ext.
As a result, we can't dismiss a short-term pull-back now but we will expect it to find Support around 19050 (Fib 1.5). We will use it as a new buy entry and target 20500 (the 2.618 Fibonacci extension) as we expect a new, more aggressive Channel Up to emerge.
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OHLC stat mapping + ADR = gemBeautiful long opportunity where +M and 1/3 ADR acted as support for the prize, targeting opposing 1/3! just checkout my profile for how many examples of this Price offere!
If I am long I use this as Support levels and targeting resistance which is opposing ADR or opposing Manipulation / Distribution
NASDAQ will continue to rise on this pattern repetition.Nasdaq (NDX) has been trading within a (blue) Channel Up since basically the market bottom of the inflation crisis in October 2022. On the bigger picture, this is the technical Bullish Leg of the 14-year Channel Up and is supported by the 1W MA50 (blue trend-line) since March 13 2023.
Based on the 1W RSI pattern, we have previously seen such Bullish Leg within the long-term Channel Up supported by the 1W MA50, back on the February 08 2016 bottom. As you can see on this 1W chart, both Bullish Legs (Channel Up patterns) made their first pull-back on the 0.5 Fibonacci retracement level. In June 2018, the previous fractal reached the 5.0 Fibonacci extension and shortly after, the index corrected aggressively back at the bottom of the 14-year Channel Up.
We expect Nasdaq to hit again the 5.0 Fib ext sooner or later but most likely before the year is over. This gives us a medium-term Target of 22000.
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NQ - That's about it?When NVDA surpass AAPL in market cap, the clown fiesta is ready to conclude itself. The ration of $CME_MINI:NQ1!/CBOT_MINI:YM1! has far surpassed its high back in the dot com crisis, and the collapse is a matter of time.
When we have both S&P and Dow Jones underperform Nasdaq that much, and we have a crazy high concentration on mega market cap companies, it's obvious a huge pullback, or recession, is on its way.
Not only the "Mag 7", Nasdaq is solely a casino for "semiconductors". Everything else is seriously irrelevant to the index movement at all.
Thus, I believe this shall be the ultimate chapter for a crazy long bull run, and bears will be back.
Crude Oil - Turbo TuesdayWell yesterday all targets where hit and some!
Today we have more targets to meet and London has not dissapointed so far
NY we will see what happens but for now I have Monthly ssl and weekly CE of wick and the Daily SSL as 3 main draws that will act as Bearish Bias.
That is the Forecast!
Crude Monday Drab Bias and ForecastI am HTF bearish on Crude OiL
I have PD arrays marked out that should be respected if market was to retrace and take some BSL.
The targets for today are Lows marked out.
Pretty simple.
Stay bellow 1hr fvg and 1hr -OB = BEARISH
Close above the 1hr FVG start looking for short term BSL
NASDAQ: Perfect pullback execution. Bullish reversal next week.Nasdaq delivered the expected pullback which was validated when it crossed under the 4H MA50. Today it almost reached the 1D MA50, which is also where the 4H MA200 sits, turned momentarily bearish on the 1D technical outlook (now neutral/ RSI = 47.140, MACD = 151.030, ADX = 59.182) and the 1D RSI achieved symmetry with the December 6th 2023 Low. We still expect the 1.5 Fibonacci extension to get reached before the next pullback (TP = 19,250).
See how our prior idea has worked out:
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US100 final leg down to begin the panic?Entry on the previous day low FLIP zone with stop loss slightly above oberbalance.
Be aware of the news ahead and New York Killzone.
So far today we have seen a nice retrace by Europe session, but there is a possibility things are changing now and we might see a return to downtrend - with a trigger news event at 2:30 CET.
This is just for smaller positions and risky approach, as a part of a general short position I posted 2 days ago.
NASDAQ Another 2 weeks of consolidation possibleNasdaq (NDX) made the bullish break-out that we largely expected as described on our previous idea (May 15, see chart below) and almost hit our 19100 Target:
Right now we see a short-term pull-back, which based on the November - December 2023 fractal (green ellipse), should be at worst a 2 week consolidation. The 1D RSI also shows that symmetrically we should be at a point similar to December 06 2023.
That fractal then rose for a Higher High on the 2.236 Fibonacci extension. As a result, our medium-term Target is now set at 19900 (just under the 2.236 Fib and top of the 1.5 year Channel Up).
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S&P 500 Futures: 5200 Level Next? ES1!!In this video, I break down why the E-mini S&P Futures could be aiming for the 5200 mark soon. Utilizing Bollinger Bands, the 5-day SMA, VWAP, and RSI, I dissect the potential moves and patterns within the market. I also give insight on the E-mini Nasdaq NQ1!, and why day traders should be looking at 10-year Yields and how they are impacting the Russell 2000 RTY1!
NASDAQ. Weekly trading levels 27 - 31.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade.
If you expect any medium-term price movements, then most likely they will start from one of the zones.
Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post.
! Please note that brokers have a difference in quotes, take this into account when trading.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
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I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade.
Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat.
Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
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