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NDAQ trade ideas

NASDAQ looking very weak on multiple indicatorsI continue to cobble together a trading system that will help me let my winners run while finding potential reversal points as I have gotten fairly good at buying the dip or finding longer term reversals but I leave to much on the table or I get out too soon. So lets break this down: The VSTOP system is pretty simple. The regular setting helps track areas of support and resistance and you can look at closing a position when it flips. When it does flip you have a secondary back up at the Multiple Time Frame VSTOP. Often you can get quick movements from the VSTOP to the VSTOP MTF. The current target for that move would be around $121. The On Balance Volume EMAs is one of my favorite indicators. Like many indicators it is a bit easier to but the dip than it is to short the top because of how difficult shorting can be. The purple circle does show an interesting consolidation below bearishly crossed 10 and 20 EMAs just above the 100 EMA. Should we get the expected move off the VSTOP the OBV situation would probably drive OBV below the 100 EMA and single worse things to come. Further that: the OBV showing hidden bearish divergence peak to peak as shown by the red arrow. That is very crucial and the OBV beneath the EMAs shows a lot of weakness. The blue circles on the MACD show that we have a very similar bearish cross compared to the black squares and purple circle. The MACD has a potential to cross zero and the MACD histogram is showing classic bearish divergence. Somewhat painfully for me is I know uptrends often have three highs (simple elliot wave) and the MACD helps show us where those highs are technically. I shorted the second high poorly. And finally, the 20D SMA is in a position to act as resistance. Based on this system I am cobbling together we could short and place a stop above the VSTOP and either take profit at the MTF VSTOP or look for a fib retracement of this uptrend. You could also zoom out and look for a wider support. If the price action breaks the VSTOP bullishly the setup is negated. If the OBV EMA situation is no longer bearishly stacked the setup is negated. If price action goes to the MTF VSTOP then bounces up the trade is just a swing trade and not a longer term trade.
NASDAQ:NDAQShort
by This_Guhy
2
V Bottom Rising wedgeNDAQ is riding the bottom trend line of it's V Bottom and rising wedge patterns. It broke up from an ascending triangle at 123ish...so possiblly strong support at that price. The top trend line of a triangle can serve as support after the break out. It serves as resistance before the break out It has actually broken the rising wedge bottom trend line by a smidgen (is that a word) lol Seems to be consolidating. Rising wedges have a bearish bias so I will stay on the sidelines and watch this one for a bit. I would go long when I see that the rising wedge pattern does not interfere or is broken one way or the other. Some stocks do not fall out very far. Others do..ie LLY.. Monthly candle is a red doji so not help there. Bollinger bands are contracting around price which usually means a break up or down is coming Not a recommendation
NASDAQ:NDAQLong
by lauralea
Is the Bearish signal confirmed for NASDAQ?I would say yes. NASDAQ has been in an upward trend for a while, however, every time the price touches the upper band, it retraces back to the middle. Mostly, it has been moving within the Bollinger bands. Now, the price already touched the upper band, so I would say this time it could bounce back to the middle as before. RSI just goes through an overbought point, which to me is a bearish signal. Also, MACD is about to cross, which is a reversal signal. Let’s expect the price goes down to the middle line of the Bollinger bands in the near future.
NASDAQ:NDAQShort
by traderscolo-en