UpdatedI'm sorry but I drew the wrong gap and could not edit the post. This is what I'm watching today. I am waiting to get into this gap and then look for a buy entry.
MNQ1! trade ideas
Bullish TodayIt seems that on daily we have reached a very important gap. We are waiting to see if it will retracement, but we are bullish. I will let you know if anything changes. Today we don't have any news that can affect our market. Take care. And I hope you have a profitable day.
NQ Power Range Report with FIB Ext - 7/17/2024 SessionCME_MINI:NQU2024
- PR High: 20597.75
- PR Low: 20578.75
- NZ Spread: 42.5
Key economic calendar events
10:30 | Crude Oil Inventories
Virtually no chances, maintaining week range
Evening Stats (As of 10:05 PM 7/16)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 263.73
- Volume: 10K
- Open Int: 255K
- Trend Grade: Bull
- From BA ATH: -2.0% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NQ Mini - Mid Week Analysis (Jul 17, 2024)Mid week analysis for the week
- Assume bearish trend for Wednesday or Thursday
- Bullish reversal for Friday
Let's see!
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Core Retail Sales m/mWe are back. That's the analysis for today. We are bullish. Watch out for some big news. If anything changes, I'll let you know and keep you informed.
NQ Power Range Report with FIB Ext - 7/16/2024 SessionCME_MINI:NQU2024
- PR High: 20647.00
- PR Low: 20624.25
- NZ Spread: 50.75
Key economic calendar event
08:30 | Retail Sales
Maintaining Friday's range
- Daily print advertising potential reversal short
Evening Stats (As of 1:05 AM 7/16)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 266.95
- Volume: 21K
- Open Int: 254K
- Trend Grade: Bull
- From BA ATH: -1.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Dip it n Rip itOne more chance to accumulate long positions before we blast off on NQ. I believe we are still in a large buy program. One last shift to end the year and into Q1 before we have a troubling 2024.
NQ 4 hour p/b to bullish FVG/breaker then highertargetting the bullish fvg and bullish breaker with SS LQ resting in that zone making it highly probably we run those stops before moving higher towards BS LQ or even the BS Swing High
OHLC Staticstical Mapping + AWR cooked shorts todayOHLC Staticstical Mapping + AWR cooked shorts today on the NQ! Rinse a repeat, price distributed to +Distribution paired with 1/3AWR+ with All-time High SMT (divergence with ES)
target was low hanging fruit the Daily OHLC Open.
Today's analysis. Today I am waiting to see if it rejects from this gap. Be patient and we'll see what happens. We are bullish.
NASDAQ**NASDAQ:**
New all time high at 20985.
This week's forecast is for the price to continue its rise to the top of the channel.
NQ1! SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
We are going short on the NQ1! with the target of 19,448.50 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
✅LIKE AND COMMENT MY IDEAS✅
NQ Power Range Report with FIB Ext - 7/15/2024 SessionCME_MINI:NQU2024
- PR High: 20590.00
- PR Low: 20508.00
- NZ Spread: 183.5
Key economic calendar event
12:00 | Fed Chair Powell Speaks
Holding inside Friday's range, above the close
- Wide first hour (PR) range with high vol open
Evening Stats (As of 12:05 AM 7/15)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 269.80
- Volume: 28K
- Open Int: 261K
- Trend Grade: Bull
- From BA ATH: -1.9% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Un used level of support 200’sPrice will do a lq grab most like ley at the point of resistance
If price can hold at the daily trendline which A. Is a lq grab under neath which makes,
sense cause…
its at
B. At supporting wicks at the bottom and plus where big buyers came in. The day before and weeks have been bullish so most like price will return to 800’s if…
C. Price holds at that level of support not used yet, confirming a wedge pattern. It should stop for a second we can see on out 30 second chart. Place buys above the key level but I feel its worth agressive ascaling have size then half size in.
Or have a an order waiting there for it with our set amount. I feel like its feeling good.
Navigating Nasdaq: Key Levels and Fed Insights for July 15, 2024As we approach the trading week, all eyes are on the upcoming speech by Federal Reserve Chairman Jerome Powell, scheduled for 12 PM noon on Monday, July 15, 2024. Traders are keenly anticipating any signals that could provide direction for the Nasdaq index, especially given the current technical setup.
On the 4-hour timeframe chart, the Nasdaq is exhibiting critical levels that traders should monitor closely. We have identified a bullish scenario above the 20,330 mark. If the price maintains above this level, it could signal continued upward momentum, potentially leading to further gains. Conversely, a bearish scenario becomes prominent below the 21,000 level, suggesting that traders should be cautious of downward movements if the price falls below this threshold.
Additionally, there is a significant supply area above the current price, formed after a break of structure around the 20,580 level. This supply zone is crucial as it could act as a barrier to further upward movement. Traders should be aware that interactions with this zone could lead to potential reversals or consolidations.
In summary, as we await Chairman Powell's speech, these technical levels provide a roadmap for navigating the Nasdaq. Staying informed and vigilant will be key to capitalizing on potential market movements in the week ahead. Happy trading!
NQ 2024 possible moves Firstly, the bearish engulfing candle on last weeks move.
This for me will be the first punch in which is going to a slug fest this year.
The market carries in overwhelming bullish sentiment into 2024 post the AI frenzy last year and Powell's suggestion that US interest rates may have peaked.
Opinion is divided and throw in major elections this year i can only see increased volatility this year and you will need to strap yourself in.
NQ what is the outlook for 2024Looking at the January 2022 (Yellow Bars) and 2023 (Red Bars) moves and overlaying them onto 2024 chart we can clearly January corrects the seasonal or Santa rally the question then what happens after that, the convergence is at 15278/15560, that will be decision time.
I will post a daily and weekly chart to see if i can answer the conundrum.
Week of July 7 NQ/10Y/CL/GCA new batch of fresh record highs to start Q3!
Last week, we were looking for longs and we got them to TP at ATH for a solid 500 handle move in NQ.
From HERE - it gets a lot trickier, but lets start to walk through what we are looking for.
Nasdaq
To ME - the governing HTF Draw on Liquidity (DOL) is still the fresh FVG that was created on the quarterly chart. We saw back in Jan (Q1) and Apr (Q2) - they attacked these IRLs in fast and furious fashion early in the quarter. With us now at ATH on NQ - I can't long anything up here.
THIS WEEK - I am looking for shorts to take NQ back to the 19.7k area. This would give us a h4 and weekly long Turtle Soup setup for those brave enough - but I am still looking at that Quarterly chart which has a draw down to th 19k area.
I'm looking for NQ shorts this week. Hopefully we get something really aggressive and they dump NQ 5% and we can start looking for the HTF draw down at 18.5k - but lets keep focused and take things 1 week at a time.
10yr
Rates continued to fall this week - which is what is jucing the markets. That being said, I'm still looking for the 10yr to march down to ~3.8% before any kind of meaningful bounce. This is because the economy is starting to roll over, inflation is coming down - and the bond market knows it.
Oil had quite the week! We have a Hurricane in the Gulf of Mexico that is headed for Houston by Monday - so I expect a lot of this to be Hurricane premium. I am STILL looking for a move lower in oil - we just need to sweep the 85/85 area - hopefully this week.
Once Oil finally does roll over, this will confirm the bond markets stance of lower inflation and energy prices driven by a weakening global economy.
Gold had a steller week. I don't have any real clear bias on a weekly chart from here - but I would REALLY like to see the 2304 lows swept before the big move higher. There is a TON of liquidity down there (stops) that I can't imagine the Market Makers really want to leave intact before the real move higher.
Baero's Take - We are truly seeing some historic stuff in markets right now, and the market is insanely bifurcated.
Mag 7: +48% YTD
S&P 493: +7.5%
Russell: just went red for the year again
Between the Cyclical performers (metals and energy are late stage performers) and the massive narrowing of the market - we are way over due for a 5-10% correction. I think once we get our well-deserved correction - there will be one final swing long entry to run us into the EOQ. I plan on being flat most of swing stock positions ahead of the election, as I think the greatest bear market in the history of finance - will come in Q4 into 2025. I fully expect that the highs we print on indexes this year - won't be revisited for decades - if ever.
The madness will go on - until it doesn't.
Nobody rings a bell at the top - which is why we take it week by week.
So here is the setup I am watching for this week;
I want to see NQ drop back to a weekly IRL level and run the h4/weekly TS for potential long entries ~ 19.8k. This is the EXACT same type of setup we saw last Monday.
I want to see oil take out the 85/86 level and then reverse hard - this will confirm the bond market deflationary stance as the global economy weakens.
I am still waiting for gold to sweep the 2304 equal lows for a long entry.
Until next week - We'll be watching.
NQ - Picking The Lowest Hanging FruitImmediate dealing range equilibrium is located at 20,506.75 but playing it safe, aiming for the closest BISI, 20.575 ideally
NQ OHLC Stat Mapping+Manipulation to +Distribution, SIMPLE.
Rinse a repeat. Checkout my profile for several examples how this setups repeats every day...
NASDAQ - BUY THE DIP
Impact on Nasdaq and Broader Market Sentiment
1. Dollar Weakness and Yen Surge
The sharp drop in the US Dollar and the surge in the Japanese Yen after another suspected BOJ intervention at the same time of the news release of the drop in the US Jobless Claims and CPI and should be short-lived, the last 2 interventions over the last 2 months have all eventuated to nothing and undone.
2. Interest Rate Expectations
The market is now pricing in a high probability of a Federal Reserve rate cut in September, with another cut likely by December. Lower interest rates generally support higher Stock prices as borrowing costs decrease and corporate profitability improves. This is typically bullish for growth stocks, which dominate the Nasdaq.
3. Inflation Data
The latest CPI data showing a decrease in consumer prices suggests that inflationary pressures are easing. This could be positive for the Nasdaq as it reduces the chance of the Fed having to maintain higher rates, which has been the headwind for the recent drive-up of tech stocks particularly pricing in the cut way ahead of time.
4. Market Reaction
Although the Nasdaq initially dropped on the news, the dip may be seen as a mean reversion and correction to pick-up stops, providing a buying opportunity for investors who believe in the long-term growth potential of these tech stocks.
5. AI and Tech FOMO
The ongoing FOMO (Fear of Missing Out) related to AI and other tech advancements also continues to drive the Nasdaq higher. This underlying trend is likely to persist as long as there is Investment money on the sidelines and there always is.
Conclusion
Despite the short-term volatility and initial drop in response to the latest economic data, the overall outlook for the Nasdaq remains positive due to the underlying strength in the labor market, easing inflation pressures, and the prospect of lower interest rates. The ongoing enthusiasm for AI and tech innovations further supports the bullish case.
That's the trouble with having to sleep u miss a few moves : )
