DavidOConnorSpain

02:41

DavidOConnorSpain

The Nasdaq is failing to reach recent and old summer highs. I'm bearish this coming week and would expect a run for the lows @ 14 712 and then down to 14 552. Then I'd be looking for a move down to the weekly Fair Value Gap @ 14 220 after a short rally to entice more longs.

01:14

DavidOConnorSpain

Now that the Daily Fair Value gap @ 15 330 has been taken out, I'd expect a run to the recent highs @ 15 629. If these are reached. we could get a spike to the summer highs @ 15 937 before a push downwards towards the weekly fair value gap @ 14 220.

01:44

DavidOConnorSpain

I have a positive bias for the Nasdaq this coming week (Mon 4th September 2023) and the draw on liquidity would be 15 937, however we have a daily fair value gap at 15 327, which I'd expect to get filled first before moving to new highs. If the bais is wron and we break the los at 14 552 , I'd expect price to move down toward the weekly fair value gap at 14 222.

01:28

DavidOConnorSpain Updated 

Yesterday's (24th aug. 2022) price action in the s&p 500 looks to me like a short rally before heading to further lows. The main low I have in mind is the 4078.8 level (which corresponds to a fair value gap). However I'd be looking for a failed breakout at the 4200 level or if there is a daily close above 4200 my focus would be on the daily swing high at 4325.