WadeYendall

WadeYendall Updated 

The week rally continued into the holiday week. NQ and ES both finished the week green dispite a mild sell off on Thur & Fri back to their respective 9 EMAs. NQ started the new year above the Jan 12th high 4% off the ATH. ESstarted the new year at the 1.13 Fib X & above the July 27th high just 4.2% off the ATH. Market is overbought but the ATH remains a strong...

WadeYendall

The market broke out of its three-week consolidation above the July high following dovish comments from Powell and the possibility of three rate cuts next year. The ES and NQ are now only 5% off all-time highs and have recovered almost all their losses from 2022. The rally has broadened as small and mid-caps played catch-up into the end of the year, posting strong...

WadeYendall

The market broke out of its three-week consolidation above the July high following dovish comments from Powell and the possibility of three rate cuts next year. The ES and NQ are now only 5% off all-time highs and have recovered almost all their losses from 2022. The rally has broadened as small and mid-caps played catch-up into the end of the year, posting...

WadeYendall Updated 

Market tested support last week and the recovered to close the week flat. NQ successfully retested the 21 ema and ES pulled back and recovered from the 9 ema. Market held to top of the range just below the July high setting up for a break in either direction going into this week's CPI data and FOMC rate decision. SUMMARY ES finished the week with a gain of...

WadeYendall Updated 

Market tested support last week and the recovered to close the week flat. NQ successfully retested the 21 ema and ES pulled back and recovered from the 9 ema. Market held to top of the range just below the July high setting up for a break in either direction going into this week's CPI data and FOMC rate decision. SUMMARY NQ finished the week with a gain of...

WadeYendall Updated 

The market traded at key resistance for the 2nd week in a row just below the July highs. Price has been holding the highs but feels very extended and is due for at least a mild pull back. That said price often needs and exhaustive push higher before reversing so a spike move into the July high first is not out of the question. Its notable that DOW, Russel & S&P...

WadeYendall Updated 

The market traded at key resistance for the 2nd week in a row just below the July highs. Price has been holding the highs but feels very extended and is due for at least a mild pull back. That said price often needs and exhaustive push higher before reversing so a spike move into the July high first is not out of the question. It's notable that DOW, Russel & S&P...

WadeYendall Updated 

The $NQ_F traded around key resistance during the Thanksgiving shortened week. NQ is locked near the Mid-time frame 886 Fib just below the July 19th high. Market has gained 10% + after making a V-bottom on Oct 26/27th. Makes sense for price to trade sideways to down for a bit. Santa rally effect still in play going into the new year but tax loss selling season is...

WadeYendall

ES is locked near Mid-time frame 786 Fib just above the Aug 16th high. Market has gained 10% + after making a V-bottom on Oct 26/27th. Makes sense for price to trade sideways to down for a bit. Santa rally effect still in play going into the new year but tax loss selling season is also upon us so some early Dec weakness is possible. SUMMARY ES finished the...

WadeYendall Updated 

Market continued to push higher for the 3rd week in row, but stalled out on Wednesday at pivot resistance. NQ pausing at the Sept 1st high while the ES has stalled out at the Aug 16th high. Mega cap stocks also at point of resistance. Makes sense for a pause or pull back here but bullish trend has been strong and spike move higher due to panic buying and short...

WadeYendall Updated 

NQ had a big follow through week after the previous week's 6.42 % gain and finished up another 2.61%. NQ broke the downward trendline and closed above the Oct 12 pivot confirming a higher high. From a higher time frame perspective last weeks move also confirmed a successful retest of the Aug 16th high breakout point. The July 19th high is now in play. Chop to be...

WadeYendall Updated 

ES Closed another 1% gain last week after running up 5.5% the previous week. Price successfully retested the downward trendline and the 200 SMA. ES has also reclaimed the upward channel. Starts the week at Oct 12 pivot resistance. If price can break the pivot the 4500 level is in play. Conversely a rejection at the Oct 12th high could take price back to the 200...

WadeYendall Updated 

Here's a look at the levels I'm using this week. Clearly the trendline is major technical resistance and many traders will be watching it closely. Market expects a pullback here or at least a pause in the upward trend. If price breaks through trendline, however, we may see some panic buying. Upside target would be the 618 Fib. First downside target would be the 55...

WadeYendall

ES starting the week trading back at the bottom of the channel. The lower trendline of the channel should act as resistance. Most market participants expect a pull back here or at least a pause. First upside target is the Aug 17th low. First downside target is the 55 ema. Below the 55 ema look for a move back to the 200 SMA. SUMMARY ES finished the week...

WadeYendall Updated 

Here are my levels on the ES. Bounce off the 50 Fib to start the week. Can't read much into it as it may just be profit taking going into the Fed rate decision and AAPL earnings. Potential for a strong rally from here but may need to see a flush into the 618 Fib first. SUMMARY ES finished the week with a loss of 2.54 % after trading in a range of 165 pts. ...

WadeYendall Updated 

Here are my levels. Posting late but today's price action did not change anything after two 150 pt round trips today. Typical going into a Fed rate decision and big earning from AAPL. Market is extended to the downside and due for a hard reversal, howerver price may need a final flush lower through the 382 Fib first. SUMMARY NQ finished the week with a loss...

WadeYendall Updated 

Summary NQ finished the week with a loss of 3.03% after trading in a range of 687 pts. NQ rejected at the 55 ema and dropped 458 pts closing below the Aug 18th Low Price is now below the 9/21/55 emas The Aug 16th high and the 200 SMA are now in play to the downside Bond yields continued their uptrend with the 10 yield tapping 5% for the first time since...

WadeYendall Updated 

Here are my levels for ES. Price has already bounce from the H-pattern sharply back up into the higher time fram 382 Fib retracement. Price must establish above the 382 for bullish continuation. May see some sideways price action now going into big earnings. SUMMARY ES finished the week with a loss of 2.46 % after trading in a range of 178 pts. ES Rejected...