Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
UNF1! trade ideas
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
MNQ weekly updatethe Nasdaq close the week with a hammer candle off the 40EMA with strong volume. This signals that bulls have step in.
Drt levelsFollowing Ali khan's Dealing Range Theory we can see some very useful levels. A break of the original DR usually begins a final retrace pattern into the parent Dealing range
NQ Short IdeaNQ finally broke below its major uptrend for 2023. This is one of the most important charts right now in my view. This trend break is everything. Despite a big recovery, NQ remains well below this trendline. It has not retested since it broke and it looks like bulls may wanna push it all the way back up for a retest.
I would fully expect a rejection here on the first try, probably a large one, but it could obviously be yet another dip buy for bulls if it does reject. Either way, if bulls can not reclaim this trend, the downside will continue. I think this short would be one of the best opportunities we've seen all year if it goes back for a retest and actually rejects.
NQ Trendline ResistanceNQ has an ascending trendline it has been respecting well since last Friday. It's trading almost right on the line again today. We'll see if it can finally break above, or if bears have some real fight left in them. I see this is as fairly critical heading into next week, today is looking like it may just chop out, but we'll see.
Today's analysis.I forgot that today is Friday and I haven't gone on vacation yet. Only today will be the last day I will post. I will be back on August 23 and will resume my work.
20240809 NQI anticipate one more move to the upside to the w ss level => I anticipate that as upside Judas swing. => reversal to the downside around 9.30. There are no HI, MI news today that is why the main animation is anticipated at 9.30am.
NQ Power Range Report with FIB Ext - 8/9/2024 SessionCME_MINI:NQU2024
- PR High: 18574.00
- PR Low: 18527.50
- NZ Spread: 104.0
No key scheduled economic events
Week high inching back into 18500s
- Lite volume relative to previous 2 weeks
Evening Stats (As of 1:55 AM 8/9)
- Weekend Gap: -0.66% (filled)
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 507.86
- Volume: 39K
- Open Int: 239K
- Trend Grade: Bull
- From BA ATH: -11.7% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
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 sorta bullish, more neutral Whatever ya'll do this all the time.
Okay, this is was a crazy recovery after all the drama on Monday BUT I'm looking for these lower lows to get taken out before considering a REAL recovery. NQ is at a pivot point for sure. I got smacked down by QQQ at this resistance the last hour of the market being open, as April open noticeable is now holding as support. BUT if we fall below it's PUT city for me. now if we hold above this level I'll have temporarily be bullish! This is a solid base.
Unfortunately, I only saw a bearish divergence on the 10 minute timeframe and it's been negated thus far.
What NOW?!
Is this what going "parabolic" looks like?Everyone is well aware of the fact that the Fed will soon be cutting interest rates. That's a given. If so, I'll be interested to see just what affect this will have on the market. It's hard to argue that it won't be a positive, but as some would say, there's a reason why the Fed would feel the need to lower rates...a slowing economy! I am not a prognosticator by any stretch, but just a chartist, and as such, it's hard to ignore what is beginning to look like a parabolic feature in the Nasdaq market. How will we know? Once rates are lowered (if and when), we look for either a continuation of the steepest uptrend channel and break of the July high, or down we go with a break of the uptrend channel to support levels.
Nasdaq on brink of a huge fall? Iran makes the situation worse for markets, a global or regional war could result in bleeding of markets, as we saw in 2000-2003, a fall of more than 4000 points on Dow from 4800 it found the floor at 850. Recently in Russia Ukraine war we also saw markets falling. This time the situation could reside in world war which could send back Nasdaq to 12000-13500-
Unemployment Claims at 08:30It seems that after the research done over the weekend, we had a very profitable week. Research that led to a much better analysis. Looks like we're gonna sell today. I have to warn you that this is a high impact news that may affect the market and change strategy. Today will be my last post as I will be away until August 23rd. I hope you will be profitable and be very careful when analyzing. We'll hear from you when back from vacation. For those who have some questions, you can contact me through comments or privately.
NasdaqIndex NAS100, price Mitigated 4h Premium also NWOG made Energetic Displacement to the down side and left 4h FVG from where price could reacted.
NQ Power Range Report with FIB Ext - 8/8/2024 SessionCME_MINI:NQU2024
- PR High: 17928.00
- PR Low: 17862.25
- NZ Spread: 147.0
Key scheduled economic events
08:30 | Initial Jobless Claims
13:01 | 30-Year Bond Auction
Filled weekend gap then faded back inside range
- Maintaining week range, running out of supply high & low
Evening Stats (As of 10:45 PM 8/7)
- Weekend Gap: -0.66% (filled)
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 493.18
- Volume: 44K
- Open Int: 244K
- Trend Grade: Bull
- From BA ATH: -14.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
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 TO THE MOON - SS LQ GRAB UNDERWAY FOR FUEL STOPthis morning we ran equal highs, low hanging fruit. ran those buy to covers/bo traders, and back down to run those equal lows, and grab a pivot low thats right above a bullish fvg. what a coincidence.
this will grab liquidity thurs/fri and then rocket higher next week.
NQ Bearish Expectation NQ under correction stage, pattern repeated , ABCD pattern completed yellow line, reversal it could be from 61.8 % Fibo at 13800
NQ PO3 Reversal Idea- MMSM Complete
- LTF/ HTF LRLR Swept
- Manipulation & Distribution Complete Today
- Expecting our AMDX to be reversal also after tapping into the 1H FVG
SMT with ES to give extra correlation alongside trading into an H1 Fair Value Gap which we could possibly see rejection off.
