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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
VSBLTY Groupe VSBGF Continues Growing$VSBGF recently took a dip, not only because of the broader "risk-off" environment and economic headwinds... recently announcing 16.7 million shares at a $0.30 offering with a warrant for additional purchase of common stock at $0.50 as well as private sale of 10 mil units for $3 million USD. Market response was bearish, on the surface this is seemingly bad as shareholders are diluted... however, peeling back the layers reveals Jay (CEO) and team are continuing to land big partnerships and agreements in the retail space. DYOR and you'll find tremendous building tailwinds and a company delivering against a bullish impermanent plan and a very bright future. Their tech is innovative and a significant value add to the market. Don't lose sight of what they're doing and don't fall asleep as the delivery begins yielding more revenue and in short order, profits.
OTC:VSBGFLong
by R0MM3LL
Novavax - Wassup?Novavax NVAX is actually lining up pretty well... from about 240, it tanked to 40, and on Friday, it gained 11% to close the week at 57.15. This caught my attention as it cleanly broke out of trendlines, breaking out also from a bearish divergence, on BOTH the weekly and daily chart. IMHO, it appears to be in technical and fractal alignment. Weekly chart bounced off a major support two weeks ago, and the last week continued the previous week's bullish end. On the daily chart, Friday's close was the highest daily close in about 5 weeks. with a strong candle closing draws obvious bullish attention. Target 80, then 125. Support at 53 and 50.
NASDAQ:NVAXLong
by Auguraltrader
3
$NVDA Nvidia TECH Chart has not shown any signs of reversal$NVDA Nvidia Tech Company has a similar chart to $MU and $AMD - $MU earnings revealed negative sentiment sending both $AMD & $NVDA downward on relation of fear that the chip market is slowing growth. Nvidia has not shown any technical signs of reversal on the lower timeframes yet. Above I've marked important levels on the weekly timeframe. With the slowing growth of $ETH and other crypto currencies, tech stocks like Nvidia and Micron are directly related and effected by the mega drop in value as demand for graphic processors and mining decreases. It's pretty obvious that $NVDA is a top tier company in graphic processors and this decline is mostly due to the decline in our economy. As we progress into the digital age NVIDIA has high probability to bounce back to new heights (of course this could take 12-18 months unless they expand rapidly into different avenues of technology). I will update if I catch any technical chart indications of possible reversal.
NASDAQ:NVDA
by ChaldeaCode
Bursa Malaysia Technology IndexBursa Malaysia Technology Index - 7 months of retracement since November 2021. - At its Major Support for potential bottom without lower low price action. - Will the Tech stocks after 7 months of retracement go for a range bound recovery trade? - A bullish tech rally will only be seen once evidently proven the index rally past its midpoint for price action rally. - Bursa Malaysia Tech stocks that have in a consensus been through a 7 months of retracement are all showing good price action of sideways consolidated bottoming.
MYX:TECHNOLOGYLong
by The_3_Lines_Trader_TFM
semiconductors climbing out of the holeright now major indices and the nasdaq especially is banking on semis carrying a significant bounce out of the giant hole they have dug for themselves and us all. it follows that if we can hold 15.80s breaking 16.80s and continue with TRAMA staying over VWMA with both averages rising together that we should hae the go ahead to close the gap around 18.60s (strange that the decimal and integer are inverted 🤔 for either target). should ve a mega green day if we just manage to keep oscillators headed toward overbought with the price making higher lows.
AMEX:SOXLLong
by cerealpatterns
4
NASDAQ technical bounce as expectedPreviously, with a hit on target, a technical bounce was expected, and the end of last week... it happened! The NASDAQ weekly is leading the charge with an overwhelming bullish candle for the week. MACD histograms are thinning out and weekly MACD are about to cross over. Using the simple arrows, projections bring the NASDAQ to 13,600 where it should meet the weekly 55EMA. The daily chart shows a clear break out to the HULL moving average, and has MACD crossed over already. The week ended with a bullish marubozu. Bullish clearly...
CME_MINI:NQ1!Long
by Auguraltrader
NASDAQ - Pick your crash 30% 40% 55% or 70%Comparing trading channels to key price levels in the NASDAQ. Price has already hit 30% pull back. Given inflation and rate increases the NASDAQ is going down more, at least to the bottom of the green channel and probably touch the top of the black channel at around 40% loss. We should see strong support in this area as it is both channel support and Feb 2020 top. If inflation can't be tamed and we really do go into recession in 2023/2024, then the lower levels of 55% and 70% become a possibility, unlikely, but tell that to the investors of 2000 and 2008. IMO, if the Fed created this bubble with tons of QE and low rates and now they are doing the exact opposite, then the obvious answer is that the market is going to go down accordingly. The question is just how far will the Fed need to go and is willing to go to get inflation under control versus propping up markets. 1W 1D
CME_MINI:NQ1!
by Dr_Roboto
NASDAQ breaks down hard... and there is momentum indicating that there is more downside, extending beyond the last low. Weekly chart ended the week with a marubozu type candlestick where the close is at or near the low, suggesting downward momentum is strong. This is seen in the daily chart where the breakdown occured on Thursday and strongly pushed down to then Friday very near the low. The increasing candlestick length suggests similarly as well. While the weekly technical indicators are not as bearish yet, the daily technicals are indicating a down week to follow, extending beyond the last recent low, perhaps for a day or two. 11,000-11,200 becomes a critical support level for the next week. Let's see how early next week turns out... whether there is more downside (as Monday reveals down) or a spike down and stall. Currently expecting the former, with space up to a further 10% downside. Stay safe!
CME_MINI:NQ1!Short
by Auguraltrader