GLOOM AND DOOM ON THE DAYInteresting day yesterday for $$NASDAQ:AAPL. The stock hit all time highs, and then sold off. Jim Cramer says that its a pullback and he is short, and that is normally a very good reason to go long. However, that outside down day bar is pretty ominous looking. There is also an unfilled price gap lower and that could act as a magnet to the down side.
Even more interesting is pubic sentiment towards $NASDAQ:AAPL. My very, very unscientific but thorough review has to do with AAPL's new product. The World Wide Developer Conference was yesterday and it showcased the release of Apple's new googles--wait goggles. Kind of pricey at $3500, making it one of AAPL's more expensive offerings. Initially, people thought it was kind of hokey and crap, which was the news on the buildup to the release. However, later in the day, many on Twitter sounded excited about the googles, including @TheShortBear. IDK, I am an intraday trader and use 1M bars, but my bias on AAPL is short. Since AAPL weighs so heavily in the CME_MINI:ES1! (No. 1 weighted stock in the index) and the CME_MINI:NQ1! (No. 2 weighted stock in the index), it could be like that old Dixie Chicks song, "If I fall you're going down with me."
If AAPL falls, the ES and NQ may go with it.
Remember positivity starts tomorrow.
NASDAQ 100 E-MINI FUTURES
NQ1! Trading Opportunity! SELL!
My dear followers ,
This is my opinion on the NQ1! next move:
The asset is approaching an important pivot point 14565.25
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Target - 14208.50
My Stop Loss - 14765.75
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
NQ DailyJust a reminder, NQ daily and weekly indicators are overbought. 3 hr chart shows MFI declining, and probably goes oversold, so we probably get one more pump before the reversal.
Daily and weekly indicators can take a few days or even a couple of weeks to play out, the drop may not happen until the Fed meeting next week.
All the same, I'm not feeling very bullish and as I always say, when your personal sentiment doesn't match the market, it's best to just stay out. Made a decent return on my beer money bet this week shorting shitcoin, I might just go spend it at a bar tonight and take tomorrow off.... will decide soon.
Should've gone long when i noticed RTY MFI went oversold.... oh well. Looks like a slow melt up now, and I don;t recommend playing a melt up with options.
NQ1! BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
NQ1! uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 14201.50 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the NQ1! pair.
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NASDAG BUYA golden opportunity in the NASDAQ market, with the penetration of the double top pattern, the market is no longer in the negative, now the positivity continues. Only patience must be dealt with the deal. Good luck, dear profitable traders
Next week - Several potential buying zones on NQ/US100 CAPITALCOM:US100 , CME_MINI:NQ1!
As the Nasdaq market is bullish at present, I expect the market to continue rising. In this analysis, based on the market's structure, you can find multiple possible buying zones with a high probability of buying scenario.
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NQ1! NAS100USD NASDAQ 2023 JUNE 05Continuation long from previous analysis was in order last week.
Minor weakness has appeared.
Possible Scenarios:
1) Continuation Long: Long on retracement. Down bars has to
be on lower volume.
2) Previous supply zone 15269
Exercise caution if you see climatic bars into this level. Market
may rotate to work out demand and supply.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15269 14575
*Longer term: 13350 needs to be supported for long trend
to be intact.
Price Volume Analysis:
Weekly: Ave vol narrower up bar close off high = NTC weakness
Daily: 19 May UT bar, ave vol= = potential weakness
*NTC = Non-Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
NASDAQ One last bullish leg possible before exhaustion.Nasdaq (NDX) easily hit the 14350 Target that we called on our last analysis (see chart below) 10 days ago:
The price even broke above the 0.618 Fibonacci retracement level from the All Time Highs and hit the top of the March 13 Channel Up. However there is still some room left before hitting the top of the long-term Channel Up that started after the January 06 market bottom.
A pattern that supports this argument is the 1D RSI that is trading on Higher Highs similar to January 26 2023 and August 03 2022. Those was the last phase before the final Higher High that exhausted the trend and started a correction. As a result we will pursue one final upside target at 15000 and then most likely we will see a pull-back towards the 1D MA50 (blue trend-line).
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NQ1! Chart for 6/2 S/D LevelsLast day to end the first week of June.
Us debt ceiling passed. 530am PST release of nonfarm and unemployment #s.
Struggling through the supply zone at time of posting, would be interesting to see us break through to break 5/30 highs of the downtrend.
Otherwise I am targeting pivot P below for bears if we can break through the demand zones.
Keeping the description brief, trying to cut down on the length of the message.
Link to chart: www.tradingview.com
NASDAQ May be entering a short term correction waveNasdaq / NDX / US100 is near the top of the 6 month Channel Up.
Since the middle of that pattern, it started to form a narrower Channel Up.
So far we have had 3 correction waves inside the larger Channel Up, each less aggressive than the previous.
The 1day RSI is forming a Rising Resistance pattern same with the previous in February 2nd that priced the peak of the Channel Up.
Sell if the RSI crosses under its MA line.
Buy a little over the 1day MA50. Target 15280 (Resistance A, High of March 29th 2022).
Previous chart:
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NQ1! Chart for 5/31-6/1 S/D LevelsNew downtrend created on the 1HR timeframe. At time of posting, it looks like an attempt to break out. If we hit longs, I see a pull to Pivot new 14333, otherwise I want a bear retracement to S1 at 14224. My previous trade idea did pan out which was nice to watch and during my call with the team. It seemed crazy at first but seems that the US debt ceiling meeting made things worse even though they agreed on raising it. IF this downtrend continues I want a break through the demand zone and a continuation to the downside to retrace the move as today was the last day of May. Here comes June!