Nasdaq Weekly Forecast Analysis 28 Nov-2 Dec 2022

Nasdaq Weekly Forecast Analysis 28 Nov-2 Dec 2022

We can see that this week, the current implied volatility is around 4.06% , down from 4.19% of last week.
According to ATR calculations, we are currently on the 78th percentile, while with VXN we are on 39th percentile.
Based on this data, we can expect on average, the movement from open to close of the weekly candle to be :
In case of bullish - 3.43%
In case of bearish - 3.48%

With the current IV calculation, we have currently 23.6% that the close of the weekly candle is going to finish either above
or below the next channel:
TOP: 12223
BOT: 11239

At the same time, taking into consideration the high/low touch calculation from the previous values, we can expect for this week:
25% chance that we are going to touch the previous low of the weekly candle of 11531
77% chance that we are going to touch the previous high of the weekly candle of 11931

Lastly from a technical analysis point of view, currently 40% of the moving averages rating, are insinuating we are in a BEARISH trend.