NQ1
NQ1! NASDAQ 2023 SEP 02 Potential WeaknessNQ1! NAS100USD NASDAQ 2023 SEP 02
Neither scenario manifested for last week, didn't manage to trade.
Daily vol analysis still shows that Demand < Supply, while weekly
analysis may be pointing to potential buying climax, which further
weaknesses must be manifested in order to substantiate this story.
Possible scenarios:
1) After weakness on the last 2 bars, short if
channel or 15547 is resisted
2) Or short from 16030-15900 zone
3) Long on retracement if channel support is obeyed
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16030 15547 15049 14635 13960
*Longer term: 13350 support must hold for long trend to be intact.
Price/Volume/Trend Analysis:
Weekly: Ave vol up bar close of high = NTC minor weakness
Daily: No supply up bar followed by S>D bar = PTC weakness
*NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only.
Have a profitable trading week. CME_MINI:NQ1!
Weekly Update: 4256 Remains the Next Target DownThe area of ES 4256 is welcoming to all who have a trading thesis. Whether you're bullish or bearish, that remains the short term target for SP500 Futures. Once that level is reached, it becomes a jump ball.
In the above chart you'll notice an impulsive 5-wave count down labeled in BLUE, and an orange count labeled abc with an arrow pointing higher. The 4256 area is of the utmost importance. The outcome of bouncing or failing decides the direction for the remainder of 2023.
Enjoy your Labor Day Weekend.
Best to all,
Chris
NQ1!, Market Keeps on TeasingIn the most recent action the price has managed to get back into the upside channel. Whether there is a real demand or just lack of supply remains to be seen. As of now the price has retested the 61.8% retracement of the bearish swing and failed to accept that level on first test. My focus is on the next level below the 50%: if it holds we may see the upside continuation to the channel mid, if not than the 23.6% is the next downside target. In the environment with high level of uncertainty focusing on small areas is a mechanism to protect yourself from a headache.
09/02/2023
ES eminiCME_MINI:ES1!
Will this years ES emini futures bull run last?
Will this current measured move sustain to higher levels?
Tough call not knowing what the man in charge will be doing at the next FOMC meeting.
Until then, we trade what we see, and what is in front of us.
So for now, I see some headwind moving up from here, OB's everywhere.
NASDAQ All going according plan, ATH by the end of the year.Today we make an update on our 1W time-frame Nasdaq (NDX) outlook on the analysis we published 2 weeks ago:
So far the price action is materializing our projection, as the index priced a bottom near the 1D MA100 (red trend-line) two weeks ago and is rebounding aggressively, in similar fashion as the September 2020 fractal. Similar 1W MACD Bearish Cross and more importantly similar 1W RSI rebound within same Rectangle levels.
If the pattern continues to be repeated, then a marginal breach of the 0.786 Fibonacci could deliver a new sharp pull-back to the 0.236 Fib. Weekly candle closings above it should keep investors interest intact and resume the uptrend, eventually to the 1.786 Fib extension and the 16770 All Time High. We are expecting this to take place towards the end of the year.
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NQ1! BEARS ARE STRONG HERE|SHORT
Hello,Friends!
NQ1! pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 14567.75 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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"Livermore's Speculative Chart" Super Bubble Starting? Global M2
Livermore's Speculative Chart starting to look scary now doesn't it?
"Central Banks 2008" Lets create 101.29T dollars weaved into the fabric of society that cannot be removed without collapsing everything.
"Central Banks 2023" We've created too much money we need to raise rates to stop markets over heating and creating a super bubble.
"FRED Removes 1 Trillion"
Failed banks Date closed
Heartland Tri-State Bank 07/28/2023
First Republic Bank 05/01/2023
Signature Bank, New York 03/12/2023
Silicon Valley Bank, Santa Clara, Calif. 03/10/2023
Lets also create BTFP + increase RRP.
Not even 1 Trillion reduced without almost capsizing the entire financial system.
This is why you don't artificially create 10s of trillions of dollars that should never have existed.
"Jerome Powell Resigns 2024"
NQ1! NAS100USD NASDAQ 2023 AUG 28 NQ1! NAS100USD NASDAQ 2023 AUG 28
Hope you had taken Scenario 2 test of breakdown
area 15138-15511 short.
Possible scenario:
1) Continued short per possible bear flag
2) If market hits longer term support channel (black dash),
>> support = long
>> breakdown + test and reject = short
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16042 15511 14635 13960
*Longer term: 13350 support must hold for long trend to be intact.
Price/Volume/Trend Analysis:
Weekly: Higher ave vol up bar close at lower half of bar (S>D)
Daily: Ave vol up bar close toward high (D>S)
*NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only.
Have a profitable trading week.
SPY SPX NASDAQ S&P500 ES are not going to dumpA "head and shoulders" pattern is a technical analysis chart pattern that can indicate a potential reversal in a stock's price trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). The pattern suggests a potential shift from an upward trend to a downward trend.
However, the effectiveness of technical patterns like head and shoulders can vary, and they don't always accurately predict market movements. Market behavior is influenced by a multitude of factors including economic indicators, company performance, geopolitical events, investor sentiment, and more.
"Complex correction" typically refers to a more intricate and prolonged market correction, which is a decline in stock prices from recent highs. Corrections are a natural part of market cycles and can be caused by various factors like overvaluation, economic downturns, or other negative events.
It's important to note that making accurate predictions about market movements is extremely challenging, even for experts. If you're considering investing or making financial decisions, it's advisable to do thorough research, consider a diversified approach, and consult with financial professionals who can provide tailored advice based on your individual circumstances and risk tolerance.
Time for a pullbackSome reasons why we could see a pullback here:
1. We are forming a bearish divergence on the daily timeframe
2. We exactly touched the fibonacci retrace level at 78.6%
3. We are at the top of a potential downward trend channel
4. Overbought
5. Red dot, indicating sell pressure
6. Global liquidity being drained
NQ1!, Failed Attempt to Regain ControlA volatile week but no structural changes, or changes in the directionality. It seems the path to downside has been painted. But when it comes to the market nothing is guaranteed. One needs to think from the change or no change of current context. As of now, the H&S remain broken, the upside channel is broken. Nevertheless, my scenario 1 is
a horizontal development (consolidation) to build enough energy to either regain the channel bottom or resume the downside. A premature move up, thanks to one company earnings, had failed but don't assume it is over for the buyers. My scenario 2 is a push lower, could be premature as well.
Assumptions/predictions are the source of frustration and losses.
Let the market show which scenario is in play and tag along with no questions asked.
08/26/2023
Weekly Update: Why Couldn't NVidia Save Us?Maybe the catalyst higher starts at Jackson Hole and Chairman Powell's speech at 10am? If not that, then the market will move higher because of either a soft, or NO landing recession thesis. As I continue to update my sentiment chart for my followers, these are the current narratives being discussed...but it will not matter to the sentiment chart what the narrative is.
The Sentiment Chart simply is a repeating visual of trader sentiment. The narratives will change. The Sentiment Chart doesn't. It simply repeats.
If intermediate waves 1-2 are done then this is about to get ugly.
Best to all,
Chris
NASDAQ Rebounding exactly at the bottom of the 8month Channel UpNasdaq (NDX) made a Higher Low last Friday exactly at the bottom of the Channel Up pattern that started at the beginning of the year, and broke (as well as closed) yesterday above the 1D MA50 (blue trend-line). The strongest buy confirmation has just emerged today as the 1D MACD forms a Bullish Cross, the first such pattern at such low level since January 08 2023.
As long as the 1D MA100 (green trend-line) stays intact (has been unbroken since January 20), we are targeting 16295 (the 1.236 Fibonacci extension as with the March 31 High). In the unlikely event that a 1D candle closes below the 1D MA100, we will sell and target the 1D MA200 (orange trend-line) at 13600, where the index will turn into a huge long-term buy opportunity again.
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