Who’s In The Nasdaq Market And What Are They Doing?
Presently, the bulls.
However, from the looks of things, it seems we are at equilibrium. The divergence that popped up on Thursday was no jokes. In the market presently, there are four different levels: The 14200, 14400, 14600, and 15000 levels respectively.
These levels all have resistance and at least some buyers and sellers ready to either take the market up or slash that damn—price. They are strong levels. If broken by the bulls, they become support meaning; the bulls become stronger. I mean for them to last, we need more support right?
What Chart Patterns Are Visible, The Current Market Structure, And Stage Of The Ndx
As for chart pattern visibility, That divergence and double bottom are pretty obvious right? Albeit, that empty daily wick the bears abandoned at the 13,000 level mean something as well. There’s an unfinished business by the bears at that level.
Who knows, maybe an inverse head and shoulder might form. Well with that—I think the bulls might just be winning this one. However, we need more signs—these bulls can’t leave us empty. If you know your market cycle well, you would know the current stage the market is at is—either: the dip or finally at the bottom. That accumulation might just be forming. An accumulation means, there’s hope.
Finally, the market hasn’t actually formed a new lower high yet. So like I said, “the bears definitely have an unfinished business”.. We need lower highs or higher high—the highs are still void at the moment. As for the lows, we have two lower lows. Hmm, what can that mean? The bears are probably saying, “we’ll be back”. On that note, “I’ll be back too”.
Have a great week.
Presently, the bulls.
However, from the looks of things, it seems we are at equilibrium. The divergence that popped up on Thursday was no jokes. In the market presently, there are four different levels: The 14200, 14400, 14600, and 15000 levels respectively.
These levels all have resistance and at least some buyers and sellers ready to either take the market up or slash that damn—price. They are strong levels. If broken by the bulls, they become support meaning; the bulls become stronger. I mean for them to last, we need more support right?
What Chart Patterns Are Visible, The Current Market Structure, And Stage Of The Ndx
As for chart pattern visibility, That divergence and double bottom are pretty obvious right? Albeit, that empty daily wick the bears abandoned at the 13,000 level mean something as well. There’s an unfinished business by the bears at that level.
Who knows, maybe an inverse head and shoulder might form. Well with that—I think the bulls might just be winning this one. However, we need more signs—these bulls can’t leave us empty. If you know your market cycle well, you would know the current stage the market is at is—either: the dip or finally at the bottom. That accumulation might just be forming. An accumulation means, there’s hope.
Finally, the market hasn’t actually formed a new lower high yet. So like I said, “the bears definitely have an unfinished business”.. We need lower highs or higher high—the highs are still void at the moment. As for the lows, we have two lower lows. Hmm, what can that mean? The bears are probably saying, “we’ll be back”. On that note, “I’ll be back too”.
Have a great week.
Note
Inverse head an shoulder, bullish divergence, higher lows.. It's a 3-3 for the bulls now.. The bears are really still leaving wicks behind though (13700). However, the 14200 break might just be all we need... #nq Trade active
Weirdly, Yet another---divergence. Hmm. What's going on? I wonder. After yesterday's smooth bounce and gap fill.. The bulls are still struggling. The bears now looking like they want a come-back. The confusion though, It's March for "f" sake. Pick a bloody side-#nq..
Note
I'm just trying not to ignore anything.. Although the trend isn't exactly down. Then again, "anything can happen"Trade closed: stop reached
Yup. Lost that one. The bulls are still on here. Could this be a continuation? Guess I'll have to wait for that confirmation (sticking to previous plan). #nq Note
The market seems to be playing along with the bearish divergence.Note
Look who played out after-wards. Divergence stays winning but, the wait can be a bit frustrating. Anyway, I guess I have to be more patient.. #nq Note
are the bulls back? Daily bullish divergence disturbing the 240 bearish divergence. Weird times like this when: different divergence shows up on different time-frames.. #nq Had to close that trade.
Note
Someone used the pause button on Nasdaq100Note
The Nasdaq 100 steadily respecting the trendline drawn since Monday it's giving---"wedge".Can we get past the daily mid-channel at: 14500/600? #nq
Trade active
2:1 nothing crazy. Trade closed manually
As expected the bears might just break the wedge finally. A break and retest of this trendline is all I need next.
Stay safe!
Note
Breaking bad..
Note
Waiting for the retest now... Bearish divergence yet again.Trade active
Again..
Note
It's 1:30 am here. Adding more positions because I can. Erm! now I wait First profitable trade since last week. Funny.
Great 2:1 again. That's 4R in total.
Trade closed: target reached
Note
#nq bears are probably thinkin of how they can get past that support (13900/800).. I think I'm done for the week. Loved every bit of this week. March is looking great!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.