NQ1
NASDAQ BREAKDOWN ANALYSISdear traders nasdaq wa in down trend after this drop it start to correct last move so follow the instruction in the chart and trade safe wait always for price action to react trade safe and good luck
NASDAQ Correction still has some steam left.Almost 2 weeks ago we called for a multi-day correction on Nasdaq (NDX) after the price broke below the Inner Higher Lows trend-line and the 1D RSI got rejected on the 70.00 overbought Resistance:
Our view is unchanged and we see a few more days extending this correction to the 1D MA50 (blue trend-line) at least or the 0.5 Fibonacci retracement level as it happened on the March 13 Low on the long-term Channel Up.
The only probability of this getting invalidated and start rebounding now is the potential buying pressure that the RSI Higher Lows trend-line may apply, which got hit yesterday. However we see more likely the scenario of the RSI transitioning into a Rectangle, having 43.40 as its bottom.
Our target remains 13400, which is a little under the 1W MA100 (red trend-line), that has rejected break-out attempts twice since May 05 2022.
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NASDAQ Bottom not in yet but closeNasdaq may be inside a long term Channel Up but for the whole month of April has been trading inside a Channel Down.
That is the same pattern that was formed after the February 2nd top.
The price hasn't touched the 1day MA50 since March 15th but is approaching it. We expect the bottom to take place a little under it.
Buy after closing under the 1day MA50 while the 1day RSI hits the bottom of the Channel Down and target 13550.
Previous chart:
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NQ RSI OversoldWent to grab some lunch (I'm on west coast) and noticed that RSI hit oversold on ES, NQ, and RTY. MI is not quite there yet but it'll hit it before market open tomorrow. If you;re short, I suggest closing some positions if not all.
Oddly, this is an indicator for me to buy PCAR, lol, but I think the earnings play was good enough since I'm taking the day off tomorrow. Gap direction will still depend on GOOG and MSFT earnings.
All cash, no trades, but I figure I'd post this for my awesome loyal followers.
Crazy movesmy short got triggered yesterday, only to get stopped out and a long get triggered at around 1330 today.
Day Trade Market Condition apr 25, 2023this is apr 25, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
NQ/ES shop zone, trade likely reacting to supply level and demand level
Day Trade Market Condition apr 24, 2023this is apr 24, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
Nasdaq H4 Action Areas For The Week AheadIn this update we review the recent price action in the emini #Nasdaq futures contract and identify the next high probability trading opportunity and price objectives to target
NQ1! NAS100 NASDAQ 2023 APR 24 WEEKCME_MINI:NQ1!
NQ1! NAS100 NASDAQ 2023 APR 24 WEEK
NQ continued to rotate. No trades from last week per scenario1.
Weaknesses have manifested, so if you are holding long, may be
a good time to take profit during this toppish structure.
Possible scenarios:
1) Market stuck in a 250pt range, wait till supply/demand is
resolved
Then:
2) Breakout of upper boundary to test 13740
= long at support of upper boundary of range
3) Breakdown of lower boundary of range
= Short on rejection of 12950
4) If you can't live without trading, you may look for long on
support between 12950-13040 | Short on rejection
between 13350-13212
Volume Analysis:
Daily: With the increase in supply volume and toppish market
structure, this may usher in another round of distribution
(i.e. selling)
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14361 13740 13550
13316 12950 10710 - 11068
Remember to Like and Follow if you find this useful.
Have a profitable trading week ahead.
NQ UpdateReally odd, RTY mFI is moving down but NQ is actually headed towards overbought again. I guess there's just too much money floating around for the market to drop at all. People buying the dip on garbage like PTON.
With RTY and NQ MFI going in different directions, I have no idea what happens here towards close. Staying cash.
Chances are pretty good that next week winds up being a whipsaw week on earnings,.
NASDAQ: Consolidating. Breakout and pullback levels to considerNasdaq is consolidating around the 4H MA50 for the past 2 weeks with 1D technicals turning neutral (RSI = 54.883, MACD = 132.650, ADX = 34.947) for the first time in 1 month. The LH trendline on the 4H RSI hints to comparisons with the February consolidation. That pattern broke under the 4H MA200 to the 0.5 Fibonacci level and then rebounded.
Consequently, we are either buying a potential breakout over the consolidation Channel or a pullback near the 0.5 Fibonacci. In either occasion we target the R1 (TP = 13,750).
Prior idea:
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NQ UpdateMFI dropping fast but so much dip buying there's not much money to be made shorting. Just more whipsaw. Today is Ponzi 401k payday Friday, so afternoon will probably be more whipsaw as well, futurss appear to be selling but the 401k funds will buy. Options expiration will add to the whipsaw.
Bearish for today but not expecting a tank. MFI should hit oversold Monday or Tuesday, BTFD, but as a quick one or two day play. Gap direction will be determined by earnings, might just stay out.
NQ UpdateMFI didn't hit overbought as I expected, probably just more whipsaw today.
Staying out unless I see a daytrading opportunity.
Day Trade Market Condition apr 21, 2023this is apr 21, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
NQM2023 Chart for 4/20-4/21 S/D LevelsWe had lots of movement for bulls/bears today. For upside, still looking for a strong break up and close over 13227 (5M supply) into 13278 zone. For downside, I am looking for a pull through 13023 LOD and close under it. We have large demand area starting at 12998 to 12957. There is an overlap in this demand zone with multiple time frames so it would be interesting to see buyers step in there. Right below this area you can find a 3 hr demand waiting as well.
Staying neutral tomorrow entering the market.
NQ UpdateMFI almost overbought, I expect it to get there premarket tomorrow.
If you look at the chart, it's gone sideways for an entire month. Unless you're good at daytrading this whipsaw, no money to be made. I think the market is waiting for MSFT/GOOGL/META earnings next week.
At this point I just want the market to DO SOMETHING, lol. Enough sideways crap.
NQM2023 Chart for 4/19-4/20 S/D LevelsTesla Earnings were a no-go and we see a pull to the downside. Lots of liquidity below, looking for a break of 13120 and hold a close below for a bigger move down. For upside, I want to see a break and strong close over 13227.
I hope you guys are doing good!
Day Trade Market Condition apr 19, 2023this is apr 19, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
NASDAQ TRADE IDEA - A BREAK?Crown Club managed to maximise the sell off yesterday on the Head of the head and shoulders pattern.
The market has been crazy moving sideways - the volatility is mainly caused from earnings and the wait of what the FED will do at the next FOMC meeting in May - remember that all the evidence we can gather now on where interest will be in the next FOMC meeting will influence the markets.
'Fed’s Bostic sees one more quarter-point rate hike, then a hold ‘for quite some time' - As a member of the FED, this statement from CNBC could potentially lead markets further down and with earnings out now we could see a potentially good window for investors and firms to grab profits while stocks are "doing good" - majority of retail traders would follow direction of the market and news, what do I mean by this?
If APPL does good with earnings you would expect price to go through a bull run, all though this is still a possibility I see this as an opportunity for BIG investors to cash in profits - hence the recent volatility and consolidation.
Be prepared for a lot of fake out and sl sweeps this week.
NQM2023 Chart for 4/18-4/19 S/D LevelsPrice action is super choppy lately. Many earnings this week, but still looking for either a push back into the (2) 5M supply above or the HUGE 1HR/2HR demand zone below.
NQ UpdateActually looks like MFI is still headed to oversold.
I guess we're shifting into tech. Not sure I really want to bet on NFLX earnings though. Gotta assume it goes oversold before market open tomorrow, and NFLX dictates teh gap direction.
