NQ testing the bottom of the channel!Markets are testing the most important support levels, NQ here and the ES 3985-3900.
So far if we hold here on the NQ, we should see a strong rally out of this levels, so it's must hold.
Breaking below we should see 10500 imo
P.S. Dont forget to like my posts, so it gets pushed up on TV for others to see as well.
Thanks in advance!
Nqfutures
NQ held the lows, first target is 12200, then 12300NQ held the lows after the open and made a higher low on smaller timeframe
- first target is 12200, then 12300
Main resistance is at 12320-30 now, needs above that resistance cluster visible on the chart.
Ideally we at least hit 12700 and I would really want to see a higher high by mid month just to screw everyone out!
A higher high and higher low on Fri makes me believe we have bottomed and should push higher now.
Im long
NQ has a chance to push hereUpdated chart
Needs to hold the broken trend channel, ideally we re-test the broken down zone of 260, might not get as far if this is for real.
Has to take 188-90 for the 260 become next main target
New target to hold is 12030+-
Very important to hold! I dont want to be in a crash mode, but no one expects it makes it more probable.
So be careful!
P.S. I like this downtrend channel, much better then another bear flag, when we break it, we can finally be moving. 12030 target looks good for the touch of the bottom trendline
Bear flag after bear flag2 days straight, this is about to break, must hold and gap up from here, or we go down much lower into 12000-30 zone
SPX closed not great as well, in the support cluster zone, tomorrow is a turning day, so can gap down and reverse into the 5th high.
I have already mentioned a possibility of a crash move, have to be super careful!
NQ into the resistance zoneOn the road all day, quick chart update from my phone.
Im flat at the moment, will short one more if it back to 13009-13, tight stop.
We didn’t get a follow through at night, but we did make a new low, I covered 50% there and the rest was stopped at night.
Now watching for lower low or double bottom. Above can be a sign of the temp low in place
NQ zoomed outIf this really goes, then 12700 will be a quick stop and it can fell very much all the way to 12200-60
There is an interesting trend line cross support at 12200 level, something to watch and visible on my chart
Support numbers below
12700
12450-60
12200-60
Needs to open tomorrow above today's highs to make it turned up and see a high on the 25th instead of a low.
3 orange lines are my support targets
NQ didnt get a follow through at night, stopped half wayI want to point out this bear flag, both on the ES and the NQ, perfect fib alignment into 12703-20 zone.
Tomorrow is a panic cycle day, will it be a gap down and reversal or we just break down?
My timing for the low is still the 25th and possibly 29th
Will do ES update next
No one expects another gap down tomorrow...It seems everyone is bullish now and desperate for a move up.
There is a chance of seeing the whole move down to 12700-20 by tomorrow tomorrow am!
I will be shorting any bounce with a tight stop and going long at 12700-20 for a good size move up, maybe even to new highs.
The R/R is much better at 12700-20 then at this point.
Have a good night
NQ is following the script, such a good boy!NQ main target is 12700-20 as per my last update.
Its not as far any more isnt it
Notes from the last night update:
NQ:
- Tomorrow's important levels to hold at 13100 and especially 13065
- I'm looking for the NQ to hit 12700 zone by the 25-26th on Aug and then a last push to 13900 by Sep 2-6th to finish this move up. This is a bullish pattern I'm watching
- There is also a possibility of a lower high of 13400-13450 off 12700 low. This is a bearish scenario going into Sep.
NQ has a patheway to 12700 and to 13900 after thatIm tracking the pathway of the NQ to hit 12700 zone by the 25-26th on Aug for a last ideal push to 13900 to finish this move up.
There is also a possibility of a lower high of 13400-13450, but I will update on what I see after we hit the ideal low
Tomorrow's important levels to hold at 13100 and especially 13065
$NQ1! - What's next?NQ1! - What's next?
It's time to for PB as I stated at start of the week, imo it seemed over extended and I looking a LT positioning with NQ & ES at this moment of time 13250 for NQ is the next support areas. However, if we break above 13 and half areas, I will be re-thinking the idea of execution. We have DXY heading higher, and perhaps re-test highs on DXY. Overall, the key important information will be Jackson Hole.
TJ
NQ main support for tomorrow 13273 and 13210Im looking for a good size gap down tomorrow to mark the top, otherwise we can still press higher .
The low should come either on the 22 or 26th. I personally like second date as it would be a perfect long setup going into the long weekend bull trap.
Ideally next high (if we topped) is a lower high. Also will be looking at turning week, if we close lower then next one, then the low might come on the week 29th and high before Sep OPEX.
Since cycles are inverted a lot (usually the case in Aug), I have no clear picture of the maj top being in place or when it comes. I got 2 dates, early Sep or Sep OPEX week.
Im short going into the next week.
Will start looking at swing short position only after we break 13115
NQ quick night updateI have sent a bigger update to those who are on my email list with an updated SPX chart, which I will post tomorrow after I see reaction of my main target.
NQ update for tomorrow:
- NQ Maj support is at 13510, break it below and retested will be a perfect short for a trip down to 13130-200, depending on the time of landing.
- NQ I have also a good fib confluence at 13866-98 and 930+- zone for a possible extension higher. If we hold 510-30, then I would be long for that final move up with a tight stop around 490 or so.
Enjoy!