NQ Futures Power Range with FIB Ext - 7/16/2020 SessionContract - NQU2020
- High - 10698.50
- Low - 10630.75
Current Stats
- Gap: N/A
- Session Open ATR: 247.69
- Daily Trend: Bullish
Nq_f
NQ Futures Power Range with FIB Ext - 7/15/2020 SessionContract - NQU2020
- High - 10739.50
- Low - 10697.75
Current Stats
- Gap: UP
- Session Open ATR: 248.80
- Daily Trend: Bullish
- Major Overnight Events: None
NQ Futures Power Range Overnight Results - 7-14-2020 #NQ_F Futures Session Power Range
High - 10648.24
Low - 10599.25
Pretty much trading sideways inside the power range. High relative ATR
Current
Sentiment: Neutral
Change: +0.38%
Volume: 131k
ATR: 244.37
Elliott Wave View: Nasdaq Short Term Upside TargetNasdaq (NQ_F) has broken above June 23 high suggesting that the next leg higher has started. Cycle from 6.24 high ended in wave IV as zig-zag Elliott Wave Structure. Wave ((A)) ended at 9885.50 low, wave ((B)) ended at 10120.50 high, and wave ((C)) ended at 9729.37 low. This 3 waves move ended wave IV in larger degree. From there, the index resumed higher in wave (1) as a 5 waves Elliott Wave structure. Wave 1 ended at 9939.25 high, wave 2 ended at 9872.50 low, wave 3 ended at 10022.75 high, wave 4 ended at 10000 and wave 5 ended at 10028.25 high.
The pullback in wave (2) then ended at 9940.25 low. Wave (3) is currently in progress. Up from wave (2) low at 9940.25, wave 1 ended at 10171.50 and wave 2 dips ended at 10076 low. Afterwards, the Index resumed higher in wave 3, which could end soon. Pullback in wave 4 should then follow before the rally resume again. As far as pivot at 9729.37 low stays intact, expect dips to continue finding support in 3, 7, or 11 swing. Potential short term target for Nasdaq is the 100% – 123.6% extension from June 15 low at 10663-10884 area.
NQ Futures Power Range with FIB ExtGreen horizontal lines and yellow box represent "Power Range". FIB lines used to identify support and resistance area. I''ve found this to provide valuable information for day trading.
NQ_F Massive Bearish Wedge has BrokenMuch like ES futures, the NASDAQ futures have formed a massive bearish rising wedge from the March lows. This wedge has an exhaustion overthrow at the end, followed by a breakdown, then a full week's long backtest which has finally failed. If follow through selling takes place next week, I expect this to fall dramatically from these lofty heights.
One small difference between the ES futures and the NQ futures is that with the new recent high, the RSI did print a higher high than the RSI print from the lower February high. This is actually not bearish divergence but rather bullish confirmation, but considering how close the two numbers are, perhaps it is nearly divergence. With the weakness in the other markets, I doubt this will make additional new highs for many years.
NQ: Danger aheadNasdaq has now made a new high and fooled everyone into thinking the bull market is resuming. Bad news is it has met resistance in the uptrend line from the 2018 highs. The road ends here.
Elliott Wave View: Nasdaq Broke to All-Time HighNasdaq (NQ_F) has made an all-time high suggesting that the Covid-19 correction is over at 6628.75. Index has now resumed higher and short term 30 minutes chart below suggests the rally to 9742.5 ended wave 1 and pullback to 9572.34 ended wave 2. Wave 3 is currently in progress and the subdivision is unfolding as a 5 waves Elliott Wave structure.
Up from wave 2 low at 9572.34, wave (i) ended at 9704.25 and wave (ii) dips ended at 9601.75. Wave (iii) ended at 9846.25, wave (iv) ended at 9789.50 and wave (v) ended at 9875.50. This 5 waves move ended wave ((i)) in larger degree. Pullback in wave ((ii)) then ended at 9747.00 as a double three where wave (w) ended at 9796.5, wave (x) ended at 9838.75, and wave (y) of ((ii)) ended at 9747.
Index then resumes higher in wave ((iii)). Up from wave ((ii)) at 9747, wave (i) ended at 9901 and wave (ii) pullback ended at 9811.50. Wave (iii) ended at 10005.25 and wave (iv) pullback ended at 9942.25. Expect the Index to end wave (v) of ((iii)) soon, then pullback in wave ((iv)) before resuming the rally again. As far as pivot at 9572.34 low stays intact, expect dips to continue finding support in 3, 7, or 11 swing.
Nasdaq Target 10,400Nasdaq just broke off it's all time high and trading channel. I was able to identify 1 target area based on past price/volume action.
Great buy while the market keeps pumping bullish news
Small Caps Could Continue Outperformance$RTY_F: as absurd as it sounds from a fundamental point of view given that 40% of the companies in the index are unprofitable and it's carrying a 65x forward P/E, the technical picture is very clear: small caps are putting in a medium-term rounded bottom vs. $NQ_F.
$NQ_F: is it time for the juggernaut to roll over?Divergence and a narrowing wedge suggest the end of this unprecedented run may be over...at least for a little while. $NQ_F has been lagging $ES_F for a few days now - harbinger?
Elliott Wave View: Nasdaq Wave 5 In ProgressShort term Elliott Wave chart below suggests the dips to 8848.71 ended wave ((4)). This is part of a larger impulsive rally which started from 3.23.2020 low. Wave ((5)) is currently in progress as 5 waves in lesser degree. Up from wave ((4)) at 8848.71, wave 1 ended at 9143, and pullback in wave 2 ended at 8925.50. Index then resumed higher in wave 3 towards 9417.25 and wave 4 pullback ended at 9273.
Final leg higher in wave 5 ended at 9510.75 and this also completed wave (1) of ((5)). Wave (2) pullback is currently in progress to correct cycle from 5.14.2020 low before the rally resumes. Internal subdivision of wave (2) is unfolding as a double three where wave W should end soon as a zigzag. Index should then bounce in wave X and then turn lower again in 3 waves to complete wave Y of (2).
Index should then resume higher again in wave (3) of ((5)) provided that pivot at 8848.71 low stays intact. Dips in the Index should find support in 3, 7, or 11 swing against 8848.71 in the first degree. If pivot at 8848.71 low fails, then Index may have ended cycle from 3.23.2020 low. In this case, a larger pullback should happen before Nasdaq resumes again.
NQ: The nasdaq has topped. This rally is DONE.NQ finally closed the gap and hit upper resistance of the trendline. Bulls expecting new highs are going to be very very disappointed. SELL NQ targeting new lows!
Nasdaq 100 - NQ_F - Gap Fill IncomingHard to believe, but NQ looks to be filling the gap and tech/biotech will continue to pull the market up with it. If FAANG moves, everything else moves with it. Check my thoughts on S&P500 also
NQ Close to a TurnThe confluence of the Feb 21 gap and channel top from Feb 28 pose an enormous resistance zone for NQ.
NASDAQ’s update Congrats to us 4 our previous trade, great come back, 2 TP smashed. Now are waiting for activation of sell stop or selle limit 💪🏾 .
DM for exactly signals
New update on NQSo excited for Monday!
Alright, so as I mentioned last Friday about the possible pullback, we saw that when Trump signed the $2 trillion bill. And as predicted, the price fell. Currently, wave 3 has the same length as wave 1, but I am really excited by the strong rebound from NQ. NQ is now at the territory, meaning a high possibility of wave 3 extension, implying a way stronger bearish trend ahead. My suggestion now is to grab more puts/shorts, whatever you wanna call it, and be ready to loot on Monday morning! Target price below 7k.
GL to Y'all
Elliott Wave View: Nasdaq Correction In ProgressNasdaq Index (NQ_F) ended the cycle from February 20, 2020 high at 6628.75 as wave (a). Internal of wave (a) unfolded as a 5 waves impulse Elliott Wave structure. Down from February 20 high, wave I ended at 8126.25 and bounce in wave II ended at 9002.50. Index then resumed lower in wave III towards 6810 and wave IV bounce ended at 7629. The last leg wave V of (a) ended at 6628.75.
Wave (b) is currently in progress and it is unfolding as a zigzag Elliott Wave structure. Up from 6628.75, wave a ended at 7761 as 5 waves impulse. Wave ((1)) of a ended at 7316.25 and wave ((2)) of a ended at 6760. Wave ((3)) of a ended at 7757.75, wave ((4)) of a ended at 7371.50, and wave ((5)) of a ended at 7761. Pullback in wave b ended at 7295.24. The Index has resumed higher in wave c which should unfold in 5 waves.
Up from 7295.24, wave ((1)) is proposed complete at 7893.25. Expect wave ((2)) pullback to hold above 7295.24 for more upside. Dips should find support in 3, 7, or 11 swing against 7295.24 low for further upside.
𝗘-𝗠𝗶𝗻𝗶 𝗨𝗽𝗱𝗮𝘁𝗲: $ES_F Daily. Bear Attempt #23337.5 ended up being exact fib level, but stimulus from #PBOC prevented big drop end of Jan. Attempt #2 looks set to begin
Elliott Wave View: NASDAQ (NQ_F) Continues Marching to All-Time Short term Elliott wave view in NASDAQ (NQ_F) suggests the Index ended the cycle up from February 1, 2020 low in wave 1 at 9687.50 high. The index then corrected that cycle up in wave 2 as a zig-zag. Wave ((a)) of 2 ended at 9655.50 low. The bounce in wave ((b)) ended at 9669.25 high. It then resumed lower in wave ((c)) of 2, which ended at 9536.85 low. The index has since broken above wave 1 high and has resumed higher in wave 3. The internal subdivision is unfolding as a 5 waves impulse Elliott Wave structure.
Up from wave 2 low at 9536.85, Wave i of (i) ended at 9677.75 high. It then corrected in wave ii and ended at 9652.25 low. From there, wave iii rally ended at 9748.75 high and wave iv pullback ended at 9719.75 low. The index then resumed higher and ended wave v of (i) at 9763 high. Currently, the index is doing a pullback in wave (ii) to correct the cycle from February 18 low (9536.85). While above 9536.85 low, the dip is expected to continue finding support in 3,7, or 11 swings for further upside.
