SPY/QQQ Plan Your Trade For 10-1 : Harami-Inside PatternToday's video spends quite a bit of time going over the next 8+ trading days and why I expect the markets to continue to move upward - with the SPY targeting 595-605.
What is important to understand is that outside new events can disrupt my SPY Cycle Patterns. So, this new move by Israel to encroach into Lebanon may present some real disruptions in price activity.
But, ignoring that potential news suggests my price patterns will show price ultimately wants to melt upward.
My own personal opinion is the world has already discounted The continuing conflicts between Israel and these terrorist groups. I believe the world already knows Israel will do what is necessary to prevent further rocket/other attacks from these groups. And that's that.
So, I don't see it being a big distraction for the markets.
In fact, I see it as the natural order of how things must play out to reach a conclusion.
And I see the world's global markets moving higher as a result of these conflicts and the pending US elections.
Follow my research and ...
Get Some.
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QQQ
9/30 Market Surge: SP500, Crypto, and Whale AccumulationOverview:
The AMEX:SPY closed strongly today, spurred by dovish remarks from Jerome Powell during a press conference. Powell signaled that the economy is cooling and reiterated the Federal Reserve’s commitment to achieving 2% inflation. As a result, 61% of traders now anticipate a 1 basis point rate cut in November, while 39% expect a 2 basis point cut. The AMEX:SPY had been gradually sliding earlier in the day, but Powell’s comments fueled a rally, allowing the index to engulf Friday’s red candle. Trading volume for the SPY ETF more than tripled during the press conference, reaching levels similar to Wednesday, September 18, when the recent rate cut was announced. Bullish.
The tech ETF NASDAQ:QQQ didn’t manage to engulf Friday’s candle but still saw a solid rally, accompanied by trading volume that was 10x higher than usual.
BlackRock continued its buying spree, acquiring $72.2 million worth of BTC, which is below their usual $118 million purchases. Over the past six days, BlackRock has accumulated nearly half a billion dollars worth of BTC and an additional $100 million of ETH. Is this how whales are dollar-cost averaging into the market?
BTC TA:
W: BINANCE:BTCUSD saw a sharp sell-off originating from Asia early Monday. Despite this, it remains above the Bollinger Band MA at $62.8k. The point of control for the current bull move is at $63k, with key weekly and daily resistance at $64k. BTC must hold within the $63k-64k range to maintain the bullish trend; failing to do so could signal one of the year’s largest bull traps.
D: The recent correction has halted precisely at the point of control, where the most trading activity occurs. However, the RSI remains overbought at 73.4, and the MACD shows bearish histogram divergence. Bearish.
4h: On shorter timeframes, RSI has moved into oversold territory. Additionally, the VWAP oscillator has crossed above the 0 line, signaling short-term bullishness. A rebound to the $64.7k Fibonacci 0.618 level is possible. Bullish in the short term.
1h: Price broke through the weekly and monthly resistance at $64 k but is struggling to maintain this level due to significant selling pressure. Neutral to bearish.
Altcoins Relative to BTC:
Top altcoins have started pumping again after Monday’s correction. Coins like SUI, APT, and FTM posted gains of more than 7% by early Tuesday. These altcoins have proven that the recent correction was not a bull trap and are leading the market in this cycle. Even if BTC remains range-bound, altcoins could continue to pump, interpreting the situation as a non-bear market scenario.
Bull Case:
The bull trap has been avoided, and the market has resumed its uptrend. With additional liquidity expected from future rate cuts, the correction is seen as a temporary pullback. The Federal Reserve's dovish stance increases the likelihood of more liquidity flowing into speculative assets like crypto.
Bear Case:
The market may still be caught in a massive bull trap. Altcoin buyers at these levels could find themselves overexposed if the broader market falters.
Fear and Greed Index:
Currently at 47.89, the index has pulled back from the "Greed" area and is now just below the midpoint of 50, indicating a neutral sentiment in the market.
Prediction:
If BTC fails to reclaim $64 k , sentiment may shift bearish in the near term. Conversely, reclaiming this level could pave the way for further upside, with a first target of $67k.
SPY/QQQ Plan Your Trade For 9-30 : 2 Week ExpectationsThis video highlights two weeks of SPY Cycle Patterns and what I believe is the most likely outcome over the next 10+ trading days.
I urge traders to stay cautious as the current capital shift (related to the Fed rate cut) is transitioning. This is a process where capital is actively seeking undervalued and ignored global market sectors.
This transitioning process may mute some price action related to the US markets and forward expectations. This is almost a certainty related to the pending US elections only 30+ days away.
I'm suggesting the current melt-up trend will continue until a potential topping pattern setup near October 18-24. I still believe a topping pattern is likely just before the elections which will send the markets moving downward. Traders must be aware of this topping pattern's potential downward price move.
I do see a solid upward price move in the SPY/QQQ over the next 7 to 10+ days. There is a CRUSH pattern on Wednesday this week, but the next two weeks show identical SPY Cycle Pattern setups.
I believe this week will be somewhat volatile for traders. But the next two weeks will be rock solid to the upside.
Gold and Silver will contract a bit in early trading this week, but should start moving higher on Wednesday/Thursday. Gold will target $2750 and Silver will target $33.50-34.00.
Bitcoin is rolling, just as I expected, to the downside. I believe BTCUSD will fall to 59k-60k before finding support. I also think BTCUSD will stay rather muted throughout the end of this year (at least into and through the elections).
Here we go—another week of opportunities.
Get some.
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Stock Market | TSLA NVDA AAPL AMZN META GOOG MSFT AnalysisQQQ Forecast
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QQQ A Fall Expected! SELL!
My dear subscribers,
This is my opinion on the QQQ next move:
The instrument tests an important psychological level 486.76
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 468.18
My Stop Loss - 497.10
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
———————————
WISH YOU ALL LUCK
Opening (IRA): QQQ October 18th 430 Monied Covered Call... for a 424.60 debit.
Comments: Re-upping in the Q's after profit taking ... .
As with my IWM position, I'm not being as aggressive as I usually am from a delta standpoint. This is because I've already made money in the cycle and want to give myself a little more room to be wrong since we've had somewhat of a bodice ripper from early August lows. Selling the -84 short call against stock, resulting in a setup with a net delta of around 16.
Metrics:
Buying Power Effect/Break Even: 424.60
Max Profit: 5.40
ROC at Max: 1.27%
50% Max: 2.70
ROC at 50% Max: .64%
Will generally look to take profit at 50% max/roll out in-profit short call if there's a sell-off and the setup's net delta converges on +30.
SPY/QQQ Plan Your Trade For 9-27 : Gap Potential PatternToday's Gap Potential will likely resolve in an opening price gap to the upside.
I believe the current price bias, which is still to the upside, will prompt a higher opening price gap followed by a moderate bullish trend today.
I will warn you that an afternoon consolidation period heading into the weekend is not out of the question. So, be prepared for a flat trading range after Noon (NY) lasting possibly 60-90 minutes.
The close of trading today could prompt a fairly big price trend (an end-of-day Squeeze). This is capital moving out of the markets before the weekend, and it could prompt a big opportunity for traders. My guess is it would be to the upside, but it really depends on how price reacts throughout the day.
Right now, I would guess the upward price squeeze will change by 55 to 65% at the end of the day.
Overall, I believe today will be rather muted for the SPY, QQQ, Gold, Silver, and BTCUSD. Yesterday's big CRUSH bar is the volatility event this week (setting new higher highs and higher lows), followed by today's price action, which will settle ahead of next week.
So, today, it will likely show moderate trending with periods of flat/consolidation. The end of the day may show a more aggressive "Squeeze" trend - but we'll see if that happens.
Either way, play the chart. Play what is in front of you, and don't get trapped in any longer-term expectations. There will be lots of opportunities next week for bigger trends.
Get Some.
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2024-09-25 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well.
tl;dr
Indexes - Yesterday I promised you the breakout on Thursday and boi did we get one today. Problem for the bulls is, that they could not trap bears and they also could not close at the highs. That means, that the directional probability up or down is once again 50/50 (neutral). Most bull channels and wedges are still valid but if bears would have given up, we would not have seen 50-75% retracements of the leg up. Still bullish until bears print lower lows.
nasdaq e-mini futures
comment : Current narrative is that hedge funds are continuing to sell tech. You don’t need to know that. You can see it on the chart. The bear gap got smaller but is still open while other markets making daily new ath. Given the current overall market environment, I doubt bears can keep this selling up and market below 20600. Bulls printed the 4th consecutive daily bull bar. At some point one side will give up and I heavily favor the bulls.
Bulls had the strong Globex bull breakout but the selling spike from the US open was unexpected and a big surprise in strength. Bulls pulled back exactly to the 50% retracement afterwards. Key level for more upside or more downside.
current market cycle: Most dominant pattern is the broad bull channel and the nested bull wedge with the August and September lows.
key levels: 20000 - 21600
bull case: Bulls want the retest of 21215 and have all the arguments on their side, once they close the bear gap to 20670. We are in W3 of this current bull trend and the measured move from W1 is around 21000. If you only look at the daily chart, do you honestly go “I want to sell this”. Ofc not. You want to get long. Only below 20000 many bulls will begin to doubt the strength of this move up.
Invalidation is below 20000.
bear case: Bear gap is the last argument for the bears but it’s so weak, I expect a give up bar tomorrow to close this week max bullish and have a clear buy signal going into next week. Not saying bears can not have a miracle reversal like they did on 2024-07-11 or 2024-08-22.
Invalidation is above 19670.
short term: Max bullish if we stay above 20000. Targets above are 19700 and then 21000/21215.
medium-long term: Outlook was wrong. Bulls are currently having another shot at retesting the peak bubble highs to make another one. If we get there, it could be the short of a decade opportunity.
current swing trade: Nope
trade of the day : Long during Globex obviously where market held above the 5m 20ema for 270 points. Selling the US open was obviously the best trade but difficult imo. Market rallied so hard, that strong of a reversal is not common.
TSLA has a notable gap above the earnings high from July.NASDAQ:TSLA has formed a notable level at $235, which has been rejected multiple times since reporting earnings in July. If TSLA can reclaim and build over this key supply, it may fill in the gap on the daily chart that was created after the earnings drop.
AMZN may form a wedge on the daily chart.NASDAQ:AMZN reclaimed the daily 50 SMA last week and is trading into the August high supply. If it gets rejected in this area, a retest of the lower trendline would correspond to the daily 50 SMA, and other converging demand zones including the .618 retracement level from the all-time high to the August low. If demand is held in this area, it may be a good long entry point ahead of the wedge breakout. Alternatively, if price builds above the August high, it is likely to retest the all-time high.
SPY/QQQ Plan Your Trade For 9-26 : CRUSH In Trend ModeAnd here we go..
If you've been following my research/videos for the past few weeks, you already know how accurate and valuable my research/content is for traders.
I'm using common techniques: Fibonacci Price Theory, Technical Analysis, Candlesticks, and quite a bit of my own proprietary research to share insights and information with all of you.
The point behind all of this is to help you become a better, more skilled trader - and to learn to be patient while waiting for the best trade setups.
Today, we'll see the benefits of waiting out the last 5+ days of price consolidation and how price moves in only two modes: trending or flagging.
Today is a trending phase.
It seems like all the pressure of capital flow (after the Fed rate cut) is finally starting to hit as the US markets attempt to make a big move.
Remember, the top in the SPY should be between 595-605. The top in the QQQ should be near 505. The top in Gold (temporary peak) should be near 2720-2735. And the top in Silver should be near 34.50-35.00.
I'm still expecting BTCUSD to roll downward over the next 2-3 weeks - targeting 60,150.
Get some.
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9/25 Altcoins and BTC Await Next MovesOverview:
AMEX:SPY displayed a minor decline yesterday, forming a small red candle while remaining near the upper boundary of its current trading range. This pullback is largely attributed to the underperformance of the oil and gas sector, which saw significant declines. Despite this, there are no clear indications of bearish momentum building up at this stage.
NASDAQ:QQQ closed with a green candle, successfully surpassing the previous high set on August 22nd. This breakout signals bullish momentum and a positive outlook for the tech-heavy index.
BTC TA:
W: Bitcoin is holding above the Bollinger Bands' moving average but remains below the critical weekly resistance level of $64 k. This positioning reflects a neutral to slightly bearish outlook.
D: The daily chart reveals why the weekly candle only has a wick above $64 k. Unfortunately, Bitcoin failed to maintain its support line and is now trading below it. If further correction occurs, the target is around $60.3k, where the highest volume of trading activity has been observed.
4h: Analyzing the recent bull run from September 6th, the Volume Range Volume Profile (VRVP) point of control aligns closely with the current price level, indicating significant trading activity here. A breakout could lead to either a drop to $43k or a surge to $80k. Keep an eye on the bearish MACD line divergence, which, although present, needs confirmation on the 1-hour timeframe.
1h: The previously observed divergence has dissipated, and the market is now range trading, indicating a neutral outlook.
Altcoins Relative to BTC:
Most major altcoins peaked 2-3 days ago and are now waiting for Bitcoin’s next move to decide their direction.
Bull Case:
As long as Bitcoin maintains its support level without breaking down, there's an increased likelihood of a gradual rise. Current market behavior suggests we are in an accumulation phase, which could precede a strong upward movement.
Bear Case:
We might be experiencing the peak of a bull trap. Economic indicators are not favorable, and there is a risk that large holders (whales) may begin selling off their positions.
Fear and Greed Index:
The index has dropped slightly to 48.34 from yesterday's 52.83, indicating a slight shift towards fear in the market.
Prediction and Opportunities:
On weekly and 4-hour charts, there are divergences in major altcoins, presenting potential opportunities. SOL successfully broke through its $144 resistance level, and ETH did the same with its $2,550 support, establishing these as new support levels. AR also confirmed its $21.73 support level. These setups could offer profitable trading opportunities if confirmed by further price action.
Correction Notice:
In yesterday's analysis, we incorrectly stated that BlackRock had been on the sidelines with Bitcoin and Ethereum ETFs. New data reveals the opposite: BlackRock made significant purchases of $98.9 m and $184 m worth of BTC on consecutive days, along with a $59.3 m purchase of ETH. While Fidelity customers showed reduced interest, with some selling BTC, BlackRock’s aggressive buying suggests divergent strategies among major players. This highlights the complexities of using ETF flows as a metric, as there is no clear way to track "smart money" in the crypto space. It’s intriguing to observe the varying purchase patterns between BlackRock, Grayscale, and Fidelity.
QQQs Break Above Unique High Level On Moderate VolumeAnother sign the markets are attempting to break away from sideways/topping patterns is today's closing price on the QQQs.
Today's close above the Unique Fibonacci Price Theory High suggests the QQQs are attempting to break away from the Excess Phase Peak pattern and will likely attempt to move up into the 501-502 price range.
Remember, the first rule of Fibonacci Price Theory is Price must always attempt to reach new higher highs or lower lows.
When it fails to make a lower low, it must roll over and attempt to reach a new higher high.
In this case, as we neared to top of the Excess Phase Peak pattern, the Ultimate High, price would either fail to make a new higher high (and attempt to roll downward) or it would break to a new higher high (thus confirming price is still in a Rally Phase).
Today's close means my analysis of the general markets moving into a "cleared for takeoff" rally phase is starting to become much more valid. We have broken above the Ultimate High on the QQQs with moderate volume.
Now, we should expect the QQQs to attempt to move higher - toward the 501-502 level.
Get some.
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Potential Harmonic Bearish Butterfly Could Push QQQ to $525+Here I have Invesco Trust NASDAQ:QQQ on the Daily Chart!
Invesco Trust NASDAQ:QQQ follows the NASDAQ 100 Index which is Tech-Industry Heavy.
Price currently is struggling at ( $485 - $486 ), the 78.6% Fibonacci Level responsible for giving us our B point in what appears to be a potential Bearish Harmonic Butterfly Pattern!
Harmonic Butterfly
X - B = .786
A - C = .382 - .886
B - D = 1.618 - 2.24
X - D = 1.272 - 1.618
If Price is able to break through this Level, then by the Harmonic Butterfly Parameters, we could see the CD Leg extend to the 1.272 - 1.618 Fibonacci Levels @ ( $525.30 - $553! )
Fundamentals:
* Feds have already began their Easing Cycle with the more then expected aggressive 50 bps cut to Interest Rates. With more cuts already planned in the foreseeable future, this will begin to help the economy bounce back!
*Thursday, Sept. 26th: Final GDP, Unemployment Claims & Powell Speaking
Friday, Sept. 27th: Core PCE Index
Indicators:
- Price is trading Above the 200 EMA
- RSI Above 50
- Bullish Volume Building
$ORCL Pennant Breakout?I have been watching NYSE:ORCL since it reported earnings and have been waiting for it to consolidate that big earnings gap. It looks like it has done that, and it broke out of a pennant formation this morning.
I started a ½ size position here at 168.18 and have a stop just below yesterdays low of 163.92. That is just over a 2.5% stop loss. Let’s see what happens.
Ideas, not investing / trading advice.
NAS100 is going higher The NAS100 is surging, riding the wave of bullish momentum as tech giants drive the index higher. Fueled by strong earnings, innovation (mostly AI related).
It is breaking through resistance levels and hitting new highs. With market sentiment on fire and the rally showing no signs of slowing down.
SPY/QQQ Plan Your Trade For 9-25 : Carryover in Carryover ModeToday's carryover trend will likely prompt a moderate meltdown in the SPY and QQQ. Pay attention to how the QQQ is still transitioning away from the shorter-term (blue) Excess Phase Peak pattern while the SPY has broken both the long-term and short-term Excess Phase Peak patterns.
In my opinion, this suggests the markets are still struggling to move higher overall.
The recent Fed rate cut will prompt the markets to shift attention towards more undervalued stock sectors. This will prompt a fairly broad-market rally phase to settle into place.
However, the US elections, which are only about 35 days away, act as an "uncertainty factor" for the markets.
Thus, we have a very interesting dynamic. The markets want to transition into a fairly broad rally while uncertainty and concern related to US policy and leadership are becoming increasingly contentious.
This translates into volatility, and I believe the markets are set up for a DEEP-V type of Flash Price move over the next 30 days. This is why I'm urging traders to stay cautious of a big volatility event after October 10-14.
In the meantime, the SPY and QQQ should attempt to rally a bit higher, and Gold will try to reach $2710-2720.
BTCUSD, on the other hand, looks like it will roll downward, targeting the $60,150 level.
Get some.
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GOLD Makes A Big Move Targeting $2720Even though my Gold Cycle Patterns suggested Gold would consolidate a bit in early trading this week, the big breakout move today shows just how undervalued Gold really is.
Yes, my Gold Cycle Patterns did not predict this upward price move clearly.
This is an example where my patterns/expectations did not match exactly what price did. it happens.
You could say my expectations were a bit behind the trend or the trend was a bit ahead of my expectations - but either way this move surprised me.
Clearly, gold is making a big move and my upper target is 2710-2720.
Today's move will likely stall out near 2685, then contract to levels near 2670-2675.
Remember, Gold really wants to rally up to 2710-2720+. So, you have quite a bit of time to play this move efficiently.
Get some.
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SPY/QQQ Plan Your Trade For 9-24 : Counter-Trend BreakawayToday's counter-trend Breakaway pattern suggests the markets will attempt to move downward (counter to the current Bullish trend) and attempt to find support.
I believe the downward price move in the SPY will target the 565-566 level for a low today - setting up a solid reversal rally phase going into the rest of the week.
We didn't see much downward trending yesterday - so, today could be the day the markets attempt to flush downward a bit.
I'm still urging traders not to overreact to this minor downward price move (potentially today). My analysis suggests the SPY is still on a path to target 595-605 before Oct 10th or so.
Gold/Silver will likely move downward today - setting up a nice base before the next rally phase higher. The strengthening US Dollar will continue to put pressure on Gold/Silver - but I don't believe the US Dollar will rally above 102 at this point.
BTCUSD appears to be rolling over into a consolidation phase. I believe we could see $60k to $62k before the end of this week as a base/bottom.
Now if not the time to be foolish. Just sit back, time your entries, and prepare for the next rally phase in the markets.
Get some.
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SPY/QQQ Plan Your Trade For 9-23 : GAP Breakaway PatternToday, I believe the SPY will consolidate downward after last week's Fed rate cut. I believe the next move for the SPY/QQQ will be higher, but I feel the markets need a pause phase to settle before moving into the rally phase near Wednesday (9-25).
Overall, I believe the SPY/QQQ and Gold/Silver will pause in early trading this week, then move into a continued rally phase as the markets digest the Fed rate cut.
Remember, this 50bp cut won't translate into any real immediate move of 2-4%. The way the markets work is they transition into the opportunities created by the rate cut. That means we'll see technology and speculative stocks attempt to bounce higher going into October 14-15 - maybe a bit further.
But, I do expect a wave of selling to hit just before the elections - so I'm warning everyone to stay cautious after October 11-14 as I believe the likelihood of a moderate Flash-Crash (Deep-V) type of event is very high.
Right now, the markets seem like they want to settle and attempt to break away from recent resistance areas. This is more evident on the QQQ chart.
Your opportunity to buy into lows over the next 2-3 days will allow you to really benefit from the next upward rally phase.
BTCUSD appears to be stalling/topping and will likely roll downward towards the 58k to 60k level over this same time. BTCUSD needs to settle into the next low before attempting to make another move higher (probably very late in October - after October 25-28).
Get some.
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Nothing More Than What I See!!!Well folks, I really put it out there today... 4 chart expectations...
Last but not least, let's talk about NASDAQ:QQQ I am about a week late to this party and may have to readjust sooner than later on this one...
I laid out some support levels in dark blue...
Looks like Sloping Support is in tact...
Visual test of Triple Top, does it break upward from there???
Anyone ever heard of Higher Lows???
I am Very Comfortable snagging NASDAQ:QQQ 494C expiring 9/27 on another Run To ATH
Again, I don't know a darn thing... I'm just sharing what I see... Sorry for yall, the optometrist says I need glasses!!!
I am by no means a professional investor, stock analyst, or financial advisor... I am a tier lower than an amateur beginning trader, so please do not jump into any recommended trades without doing your own research!
QQQ: Bearish Continuation is Expected! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the QQQ pair price action which suggests a high likelihood of a coming move down.
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