Yet another index that is showing it's true colors. We're are very close to another financial turmoil here in the states. Be prepared to capitalize on this drop and do not be blindsided. Please do not listen to Kramer when he tells you to "Buy Buy Buy!!!" Thank you for your time and God bless you all!
Broken ending diagonal wedge, and currently trading within the daily MA 50 & 200 range. 5000 is also a significant psychological numeric & 2000 technology bubble resistance. It seems that the market is currently stuck in a range until contagion tears this apart to the downside. (Grexit? China bubble? US macro weakness?) I'll be expecting 10~20% correction...
4-4 Monday Morning Flush? If so? Good as there are multiple supports just below and any one of them can act as the one the markets react off of. So at the least watch those levels for stabilization. Notice what is sitting at the blue support lines? Key Fibonacci retracement zones of the 38.2% and 50% So for now call those levels multiple zones of support in...
We flipped from a deep red to green today on decent volume. I imagine we gap up tomorrow and test somewhere halfway up yesterday's (March 25th) candle which will decide if we continue higher or lower. Don't be surprised to see more sideways action in the form of a falling wedge or flag over the coming days or weeks. IF we gap down tomorrow then the 150dema is on...
The Nasdaq 100 Index has reached important Fibonacci levels. We believe it's up wave (3) has been completed and a corrective wave (4) is under way with a target towards the 3600 area. Only a new weekly close higher would invalidate this bearish scenario.
Monitor Support Test (weekly Swing)
The 2 charts look eerily similar don't they? This is not a prediction, only an interesting observation. In the short term I think the Nasdaq first goes to the 4000 level and then it retests the 2000 high and "pulls a silver". Will it go down from the 5000, 6000 or 10,000 level only time, the price pattern and investor psychology will tell. For the moment I am...
We are covering our final 3rd of the position. This was a nice kick today (thanks EU). We'll take it and go home flat the NQ into the weekend. We will look for a pullback to initiate new positions. Lesson: Patience! we waited on the sidelines for this to setup and it paid well.
Da bulls. We are long per our last post. We have hit out first target Friday and have pulled our stops up looking to the 4400 area for the next target. The third target will be open. Read past posts...if you were patient you were rewarded on this trade. Stay tuned
This market is getting ready to move and we will be watching for a close above 4275 to get long. Stay tuned. Watch more details: youtu.be
We are still waiting for the $NQ to find out zone around 4275. We like believe price will trade above it and if it does we will look for a trigger on a lower time frame to get involved to the upside. Patience will pay on this. Watch our video on this: youtu.be
$NQ never trigger and now may present a good opportunity. We are waiting for a close above 4275. Once this takes place we will look for trigger longs. HAPPY NEW YEAR!!!!!!!
V's are in for the season. As we said on the $ES chart...the $NQ is in full buy mode. We are looking at a test of the highs and then possibly the 4400 area. Keep it on your watch list.
Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops. Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
Could bounce from here if not then next levels are another 5-10% down.
Here we have almost identical price action, earlier this year and again over the last few weeks. The last action saw a mild pullback of 5%. Could we see this happen again? Notice the Pinching of the bollinger bands at almost exactly the same position of the arc, and the MACD looking very similar too in both periods. The case for a correcting market builds yet again.