This post is add-on to my previous Tweets regarding Nasdaq100 big picture and early morning 4H setup. I hope some of you caught the signal in time.
Most of the equity indexes have been sufferring a lot, but NAS100 is actually still far from bearish. It seems to be one of the most resistant to shocks. Of course it was hit, but looking at the technical picture, the damage was far not as serious as in case of the broader SP500.
Weekly:
- Thick Kumo far below price blocked the hit succesfully. Two weeks after the long red candle mkt consolidated above Kumo and 100 WMA, and last week it started to pick up again, with a close above Kijun Sen! The picture is not yet very rosy, as Chikou Span is at past candles, but certanly the situation is far not that bad as in case of SP500.
- Important lower supports to watch: 4190 / 4090 and 3600-3700 area (low of Oct/2014 and major bullish trendline support.
- Weekly Heikin Ashi is bullish biased, but to keep positive picture, this week candle should not print a lower wick and haDelta/SMA3 needs to stay above zero line
Daily:
- Ichimoku picture is mixed a bit: Price trades below current Kumo, but above future Kumo levels. Price ia above Kijun Sen, and Tenkan/Kijun is weak bullish. Chikou Span is below past candles, but has no open space ahead. I think level of 100 WMA and horizontal 4400 will be decisive for future price action
- Heikin Ashi was very bullish for 8 trading days, but in last two days some pull back started. Short term Key supports are: 4295 and 4235.
4H:
- As I wrote on Twitter this morning, we had a high probability buy signal at important support level. Next candle confirmed the bullish bias.
- More bullish acceleration is expected above 4350 and 4375.
- We have to see if it gets back above 4400. If not, then next sell signals will be very important, as that could cause major strategic selling, changing the "not so bad" picture on higher time frames towards a more bearish setup.
For now I keep my long position opened this morning, and will trail up the stop.
+Notes:
- When mkts face this increased volatility it is wise to switch one time frame lower from your regular trading time frames. In my case it means watcjing signals on the 4H rather than on Daily, but still keeping an open eye to confluence levels between multi time frames.
- When mkts are uncertain and broken, you have to pick the relatively strongest index if you wanna go swing long, and sell the relatively weakest index when you see a swing short opportunity.
Follow me on Twitter too! Have a nice day and a profitable week ahead!
Most of the equity indexes have been sufferring a lot, but NAS100 is actually still far from bearish. It seems to be one of the most resistant to shocks. Of course it was hit, but looking at the technical picture, the damage was far not as serious as in case of the broader SP500.
Weekly:
- Thick Kumo far below price blocked the hit succesfully. Two weeks after the long red candle mkt consolidated above Kumo and 100 WMA, and last week it started to pick up again, with a close above Kijun Sen! The picture is not yet very rosy, as Chikou Span is at past candles, but certanly the situation is far not that bad as in case of SP500.
- Important lower supports to watch: 4190 / 4090 and 3600-3700 area (low of Oct/2014 and major bullish trendline support.
- Weekly Heikin Ashi is bullish biased, but to keep positive picture, this week candle should not print a lower wick and haDelta/SMA3 needs to stay above zero line
Daily:
- Ichimoku picture is mixed a bit: Price trades below current Kumo, but above future Kumo levels. Price ia above Kijun Sen, and Tenkan/Kijun is weak bullish. Chikou Span is below past candles, but has no open space ahead. I think level of 100 WMA and horizontal 4400 will be decisive for future price action
- Heikin Ashi was very bullish for 8 trading days, but in last two days some pull back started. Short term Key supports are: 4295 and 4235.
4H:
- As I wrote on Twitter this morning, we had a high probability buy signal at important support level. Next candle confirmed the bullish bias.
- More bullish acceleration is expected above 4350 and 4375.
- We have to see if it gets back above 4400. If not, then next sell signals will be very important, as that could cause major strategic selling, changing the "not so bad" picture on higher time frames towards a more bearish setup.
For now I keep my long position opened this morning, and will trail up the stop.
+Notes:
- When mkts face this increased volatility it is wise to switch one time frame lower from your regular trading time frames. In my case it means watcjing signals on the 4H rather than on Daily, but still keeping an open eye to confluence levels between multi time frames.
- When mkts are uncertain and broken, you have to pick the relatively strongest index if you wanna go swing long, and sell the relatively weakest index when you see a swing short opportunity.
Follow me on Twitter too! Have a nice day and a profitable week ahead!
