8374 Positive volume pull backReason for long
a) Positive Volume pull back
b) Rainbow indicator still in yellow colour indicating pullback is intact.
c) QQE, Rainbow and POC i ndicating low
d) SL compulsory
Qqe
semiconductors daily bounce or continued downsidewe are at the low end of top anchored vwap. if we get over this pivot and support meaningfully we could see a test of sss moving average or signal around upper horizontal and gap close. if we remain beneath and resist with sss signal and qqe staying red id look for that lower horizontal.
using sss and trama as a guidexbt is trending in bull reversal, and we have an hourly pullback from the current day high that is showing price will revisit one of these levels. the most bullish case is we stay long sss and qqe 15 minute and bounce off signal or moving average and that is marked out in dark green. the slightly less bullish case is if we go for a touch of rising trama. if we bounce from there the range is marked out in light green. the slightly more bearish case is if we break trama and head for that sss supply zone. this is an area we could still bounce from and its marked out in light red. if we go red sse and qqe and break beneath sss supply zone we could follow the path marked in dark red. over all were still in a trending market that is bullish.
sss amd qqe are long, but sinking trama was touchedlike the title says weve just touched trama on the hourly and its still sinking. if sss and qqe remain long i would long if we stay over this pivot or support lower horizontal, and i want to short a bear breech of this pivot or a rejection from upper horizontal.
has tech retraced enough off this bottom to hold?if we get support over this pivot and the 0.5 retracement level id imagine we would have a bull pull up to a sell the rip level. if we get resistance to this pivot i see that well have a continued selloff to lower horizontals. if we have resistance to upper horizontals i think were at a sell the rip level. if we support along lower horizontals i see that were at a buy the dip level. if we start to breech lower horizontals with volume tech is bearish, and if we start to breech upper horizontals tech is bullish. the red or green ghost feed is a path the nasdaq could follow.trama sinking and resisting is bearish. trama rising and supporting is bullish. qqe and sss red or green is long or short. if we stay short qqe and red sss it s bearish if we turn green sss and long qqe its bullish.
whether to go bull based on this daily bounce alonei onlywant to long bull breech of this pivot, short the upper horizontal, long the lower horizontal, or short a bear touch of this pivot. if sss and qqe go long, im long. if qqe and sss go short, im short. if trama gets touched,and heads down with price that adds to a bear case. if trama acts as support and rises that adds to the bull case. this applies to the full broader market spectrum, and the crypto space when the dollar is bearish for a bull crypto scenario, and dxy is bullish for a bear crypto scenario.
qqe and sss are long but there is some doubtwe can look at signals all day and say theyre bullish, but the reality is that they are only bullish until they're not. this means thatwhen facts change you have to change the trade to meet the trend. i would trade a break of this pivot as bullish, and staying below it as bearish. we could follow the green or red path. sell if qqe or sss go red.
maybe this is an intermidiate bottom, and perhaps notbtcusd is in the throes of a love affair with a low dollar. since dxy has made its move, and inflation has peaked withthe news of a more hawkish monetary policy, a lower dollar means higher bitcoin. its convenient that the higher we go in major indices bitcoin seems to follow suit with even more bullish action. if this is atill a bear market for indices i would bet its still a bear market for bitcoin. if dxy goes higher ill sell btcusd and gbtc. if we get over this pivot im interested in upper horizontals as long as trama is rising and sss signal green/qqe long. it could follow the green path. if we stay below this pivot, and sss signal goes red/qqe short im interested in lower horizontals. it could follow the red path.
what does a break of 4000 mean for the s&p?nothing, or little to nothing can bedrawn from just the break of 4000 alone. 4000 is a psychological level thathasnt been visited for any great length of time since the first time we saw that level. if we get back above this sss supply zone were headed for the pivot, and if we fade out of that zone were headed for lower horizontals.
could this be a weekly bottom in bitcoin?btcusd has been making its way to the low end of this SSS supply zone. if we stay beneaththis pivot id imaginewere headed for a breakof the lower levels or the bottom of this range, and if we head upwards were likely headed for a test of sss signal or the top of this range. qqe is long so im buying until this zone dries up, and imselling a rally on this timeframe. as is shown in this fixed range volume profile the majority of the action since the top has beenright below this pivot that ive drawn in dashes.
what a great stock to own long termfacebook is one of those companies that is pretty well here to stay. i could see this over $600 one day. once we get over TRAMA and sss, qqe go green i would have no problem averaging into this for a passive investment in tech. facebook will always think of new ways to squeeze more money out of their user data.
tightenting range appears to have broke bearqqe and sss are short amc. smart money is selling this. a series of higher lows and lower highs appears to be breaking to a lower low. overall this name has entered a slow bleed. its probably not worth $33. id liketo see this back under mid $8s.
i think tesla oversold is an intraday bounce candidateqqe recently went long tesla, and i think theres something to it if rsi chooses to reverse and cause some squeeze. if we get the volume trade switch back to the bulls on the hourly, this horizontal might hit. theres short long and pivot targets as well as the path i think tsla might take.
hourly trend change back to bears confirmingit seems like we retest that volatility from daily lows but if we breakout above lower veap band we might hit that vwap, and if we bearflag we continue lower weekly. 19 and 21 are targets dashed line is pivot
what if we distribute further in major indices?spx is in a correction wave of a terminal thrust distributively, and if we sink we distribute further. the .382, tram, and sss ma are levels of resistance and .618 and lower anchored vwap band are levels of support, .5 and nearby levels are pivot, but we may trend much lower in major indices. there are still bullish scenarios marked out and fib retrace levels are a guide as well as sss signal and qqe entries.
i like semiconductors correcting from oversoldsome meaningful bounce is taking place in big tech at least intraday, andsemiconductors as a lead bear are taking part. SOXL is trapped under yeasterdaysgap up, and todays gap up. ive marked outlong short pivot and drawn a bull and vear scenario. there is no bias, but i am long semiconductors when price is so low, at least intraday.
rangebound trading cant last bear flag or breakoutprice action daily nasdaq is ranging around the lows with the bounce not escaping vertical gravity, and the candlestick pattern forming either a bear flag or a bullish reversal. if we cross above pivot im looking at upper horizontals as resistance, and if we cross below it im looking at lower horizontals as support.
a few different scenarios for emini nasdaq front monthif we enter this sss suply zone and bounce we may have one of the green scenarios play out. if we fall beneath it and start confirming a lower high on some resistance beneath it we could be headed for one ofthe red scenarios. below pivot im looking at lower horizontals and above it im looking for higher lines.
not all is woe for the s&plooks like we may touch that sss moving average, and then revisit trama. if we remain beneath this pivot i think the supports marked out are in play, and if we climb back above it the upper resistances are targets. we are inside the bar enough that a bounce could lead to bullish action, but still hanging low enough that if we break the previous sessions lows its hard to find an area that stops the bleeding.
touching TRAMA and SSS signal with QQE longi imagine that if we cross above this pivot hourly and beat TRAMA and SSS signal turning it green the QQE long entry will play out for bulls aroundupper gorizontals, and if we stay beneath those levels turning TRAMA back down hugging SSS signal lower remaining red i would look for lower horizontals.
i think this is a serious bottom in vixwe should visit SSS signal briefly, and then double bottom in vix. after that id imagine we have another quick ride up. uvxy often makes bottoms on the daily this way. upper horizontals if we stay over pivot, lower horizontals if we remain below.
looks like there may be some snap back hourly btci thonk a revisit of TRAMA 13 is in order after weve had nothing but red for a while now. upper horizontals if we cross above pivt, lower if we stay beneath. likely result is rangebound trading.
looks like gap down and bounce could go both wayswere off the lows for the session in the nasdaq, nq1!, and ndx, and creating a slightly higher low than yesterday. we have retested sss moving average, and nearly crossed signal to the upside. if we fall beneath pivot i would look toward sss supply area, and lower horizontals. if we stay above pivot and TRAMA i would look for upper horizontals.
