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NASDAQ retracement ONThe NASDAQ over-extended its upside target and the later part of last week stalled and started to retrace. Nothing exciting here as it was expected for weeks. lol So the NASDAQ Futures Weekly chart how a (breakout) failure of the 55EMA, and somewhat of a bearish reversal top candlestick pattern in the likes of a Dark Cloud Cover of sorts, or two-thirds of a Three Inside Down. Both suggest that the upcoming week would more likely be a down week. Notably, this past week completes the patterns symmetry of the NASDAQ fall magnitudes, as mentioned in previous earlier post. The Daily chart shows the completed trend reversal pattern (wave 1-5) of a series of higher lows and higher highs. And now, a retracement is in order, in a somewhat expected fashion. MACD and RPM both clearly indicate the retracement. This drawback should be looking for the 13K (or rather 12,900) support. A weaker market is more likely to bring it down to 12,000 or lower instead... perhaps later in September. I am in two minds at this point and here is why... The Daily chart appears to have turned around the trend into a bullish recovery. BUT, the weekly chart is in need of a higher low, which may have a 2000 point range at least. The two things that bugs me bad is the failure of the weekly 55EMA, and the distance from breaking above 14,400 for a weekly bullish clearance. Overall, the weekly chart is not ready (yet) to launch the next bull trend despite having pretty decent technical indicators. Stay safe and well... be cautious as volatility will spike!
CME_MINI:NQ1!Short
by Auguraltrader
3
Cisco Systems bullish scenario:The technical figure Channel Down can be found in the daily chart in the US company Cisco Systems, Inc. (CSCO). Cisco Systems, Inc., commonly known as Cisco, is an American-based multinational technology conglomerate corporation. Integral to the growth of Silicon Valley, Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products. Cisco specializes in specific tech markets, such as the Internet of Things (IoT), domain security, videoconferencing, and energy management with leading products including Webex, OpenDNS, Jabber, Duo Security, and Jasper. The Channel Down has broken through the resistance line on 17/08/2022, if the price holds above this level, you can have a possible bullish price movement with a forecast for the next 49 days towards 50.14 USD. Your stop-loss order, according to experts, should be placed at 41.03 USD if you decide to enter this position. Cisco stock pops on fourth-quarter earnings beat. Cisco has been on the top and the bottom line for its fourth quarter results, with the networking equipment maker beating on adjusted earnings per share. Those came in at $0.83. The Street was expecting $0.82. Revenue for the fourth quarter came in at $13.1 billion. The Street was expecting $12.73 billion. But the Street really likes its first quarter revenue guidance because the company guiding anywhere between 2% and 4% growth year over year for the first quarter. The Street was expecting a decline of 0.24%. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NASDAQ:CSCOLong
by legacyFXofficial
$HUB.TA Outpaces CyberSecurity Sector Ahead of NASDAQ ListingAfter hitting dramatic lows in June that saw the ^IXIC (Nasdaq Comp. Index) down >30% YTD, Nasdaq and the tech sector as a whole has witnessed a bullish rally over the past month. Despite some of the tech giants missing the mark on Q2 earnings, Nasdaq has enjoyed robust capital inflows in the past month as investor sentiment begins to improve. The passage of the US CHIPS Act last week was seen by many tech investors as a windfall for the semiconductor, chips, and computing industry thanks to upcoming subsidies and governmental incentives for domestic manufacturers; this legislative action has infused some confidence into the broader market. One area of the broader tech space that has consistently traded strongly despite poor performance this year are cyber security stocks. The rising trend of offensive cyber operations targeting public and private actors alike has reinforced the critical need for cyber defensive architecture. The HXR Cyber ETF as well as RDWR are +12% and +8.3% respectively, closely tracking QQQ's +12% jump the past month. Other have shown more modest growth, such as PANQ (+2%) and CHKP (+2.6%). And then onto the outliers. FTNT got hammered in August with 12% losses due to erroneous revenue guidance issued by management on top of some analyst downgrades to overvalued. In other words, looks like Fortinet is going through a short-term correction. Our bullish outlier is HUB Security, as Israeli confidential computing equity that is in the final stages of completing a SPAC-driven NASDAQ listing. HUB shares on TASE are up 38% in the past month and continuing to climb as more investors jump on board in anticipation of the company's much-vaunted US listing.
NASDAQ:QQQ
by dave_kellr85
aapl showing how broader market will fareim depending on this large cap value in tech to lead the way for the rest of the market as a bellweather in technology. if we fall beneath pivot to start testing sss signal as resistance and it turns red were headed for daily consolidation in tech and the broader market, probably testing that ma as support. if we keep a green signal, and hold pivot testing as support we should move toward upper horizontals as long as we do not h/s around potential neckline.
NASDAQ:AAPLLong
by cerealpatterns
NASDAQ near upside targetThe NASDAQ just about reached the weekly 55EMA and retraced slightly . It cleared the 13K resistance and 13.2K resistance as well. Still bullish in the weekly technical indicators. The daily chart breaks down the week, with a early week pull back and some volatility and a weak retest of the gap; and then the mid-week bullish spike to break 13K. These were expected last weekend in the previous post. Similarly, the technical indicators were waning in acceleration and this is observed again in the last week. What makes it a little uncomfortable is the Friday candle... one that is suggesting indecision. So, I would start being cautious really. Reading two things now: a pop up spike to about 13,500, and then some retracement should set in.
CME_MINI:NQ1!
by Auguraltrader
$MNDT Outpaces its Sectorial Peers The technology sector has played a leading role in powering the market's gains over the past couple of decades. Tech's ability to shape almost every industry means the sector remains one of the best starting places for investors seeking big gains, even during this bearish market. My top pick for this sector is MNDT, a cybersecurity disruptor that is a winner for your growing portfolio today. As seen in the chart, MNDT (+31.94% YTD) is far-outperforming its sectoral peers as tech has taken a double-digit tumble in recent months. For instance, mega cap tech companies such as MSFT (-17.90% YTD), APPL (-12% YTD) and GOOGL (-20.60% YTD) have all underperformed relative to MNDT. This is the case too for FTNT, a fellow cybersecurity player, which has registered a 9% decline YTD despite outpacing the broader tech sector as a whole. Sectoral cybersecurity ETF’s like BUG (-16%), XLK (-18%) and CIBR (-18%) also lag far behind MNDT’s YTD gains. Relative to QQQ, MNDT has outpaced the Nasdaq baseline by some 50%, indicating just how bullish this stock is against the backdrop of an ongoing bear market.
AMEX:XLK
by John_Sanders
$HUB.TA Outperforms Sectoral and Market Indices YTD Despite the market's emergent rally in July, 2022 has been a punishing year for tech equities worldwide. Recent Q2 earning from megacap tech players in the US deepen concerns about diminishing margins and slowed hiring moving into Q3/4 and beyond. YTD, Nasdaq is down -21%, and unerperformed the DOW, S&P500, and Russell2000. One sector with more bullish short-to-intermediate term prospects is cyber security and confidential computing. HUB.TA, which is headed for a NASDAQ listing this year via SPAC merger with RNER has clearly outperformed sectoral peers such as IBM (-1.38%) and CYBER (-22.8%) YTD with its gains of +32% despite some heightened volatiity surrounding its imminent merger. HUB likewise outperformed sectoral ETFs like BUG (-17.8%) and CIBR (-19.17%), making this Israeli confidential computing equity an attractive watchlist item for those eyeing its TASE delisting and the initiation of trading on NASDAQ.
H
by jonah_garber
NASDAQ Bullish firm; to test 13KAs heads up weeks ago, now it is clear that the consequent market action is bullish. The weekly chart clearly showed the consolidation in June, and the robust breakout in July, with a strong bullish looking candle (nice lower tail and close very near at the top) to end the week. Technical indicators are aligned with momentum. 13K resistance should be tested, and appears likely to break. The daily chart has a lot more detail, and takeaways too... Last weekend, it was expected that " an early to mid week retracement, and then a possible uptick. " Not only was it perfect, the uptick was exceeded! Firstly, the mid-week move was a bit of an unusual response to the FOMC raising rates by 75bp. Then the momentum followed through, and the week ended with a significant gap up - Gap & run style, stopping just at the 13K resistance. Thursday's move completed the trend reversal pattern of a series of Higher High (HH) and Higher Lows (HL) denoted by the yellow lines through point 1 to point 5. Upon breaking above the high at point 3, that was pretty much the completion of the trend reversal. Now, clearly bullish and all, we do not go in all guns blazing, and here is why: There is a clear and immediate 13K resistance, and the weekend brings a possibility of a Monday retest of the gap. Although expected that the retracements should be shallow, the daily RPM is indicating a very much reduced rate of acceleration. Small signs like these are like cracks in the wall. Oh, btw... Have you seen the Monthly chart? It is so beautifully crafted with a huge Marubozu type candle engulfing a significantly large bearish June candle. This suggests three things: 1. Next couple of (2, maybe if we lucky 3) months are likely to be bullish; 2. The bear trend is broken; and 3. More importantly, the range of the (last 2) monthly candles suggest a significant range of volatility ahead And so, towards the upside target we go!
CME_MINI:NQ1!Long
by Auguraltrader
8
NASDAQ Ka-Boing!Ok, so we got the NASDAQ bounce for the week as outlined in the previous post. How now, brown cow? The weekly chart now has bullish crossovers in the technical indicators, and clearly a breakout of the consolidation range between 11,200 to 12,200. Mildly and cautiously bullish for the weekly chart, The daily chart shows that the week ended lower after clocking an intraday high that is also the week's high. The candlestick is actually bearish, and the daily technicals appear a bit winded. This collectively may result in an early to mid week retracement, and then a possible uptick. Note that the FOMC meeting is on 26-27 July, so aligned that the early week would be jittery and later in the week sees a stronger move. Either way, be like water, my friends...
CME_MINI:NQ1!
by Auguraltrader
$VSBGF VSBLTY Groupe UpdateBroader markets are pulling back and $VSBGF has found it's footing. There's been recent communication from the CEO regarding partnerships and what's shaping up to be potential of an acquisition (rumor). VSBLTY continues to land deals and the recent fundraising wasn't received well in the markets during a down cycle... but peeling back the layers, it's evident this isn't a dilution so much as giving runway for takeoff. The market downturn has impacted the price, but it's not throwing money away imo... I am continuing to DCA into a company with a significant value add to to retail and security. Strong Buy from my perspective.
OTC:VSBGFLong
by R0MM3LL
my view on the (tech) marketI still don't think it is over and it can get very bloody. There are a lot of companies affected by the still not perfect again working supply chain on one side and decreasing demand because of cost of living. This will affect the whole hardware and software industrie IMO, even cloud and advertisers (will happen later) and we can alright read that some manufacturers of consumer products have full stocks (graphic card manufacturers for example which get supplied by NV). I think this can take up to one year before we see this everywhere in the tech market. This little dip does not reflect the real impact. Just my point of view, no financial advice.
NASDAQ:NDX
by Just4FunTrader
2
NASDAQ about ready to breakoutAn interesting week went by, one with ups and downs and all around. The week ended with a long lower tail in the weekly candlestick. This we know, indicates bullishness. The daily chart shows how this came about, with a doji on Wednesday, and then a higher low retest followed by a nice uptick on Friday. These moves bounced off a support level, as well as clock in a second higher low (after technical bounce was expected previously). The weekly technical indicators crossed up recently, and the daily technical indicators show mild bullish build in the MACD, and less so in the RPM. Taken together, it appears that a bullish break out is imminent for the coming week. If this happens, then we are looking at a higher probability for July to close higher at about 13,500. Watch the next few days, it should show hand...
CME_MINI:NQ1!
by Auguraltrader
6