NQ has less Difficulty on Fridays and Mondays of late.
2 Mondays ago gave us the Globex push to 15399, from which Price promptly
Dumped Hard.
TImeframes are telling for October, the Weekly TF is Negative.
The Daily has the 21 below the 34EMA, as both are slowly approaching the 50EMA.
NQ's 200EMA resides @ 13961.
Price has dropped over 1,000 points since the beginning of our SELL Indications.
It has much further to go - 12.485 was our initial indication. We shall see how close
to this Objective in proximity it completes.
________________________________________________________________________
The Hourly, on the flip side, is attempting a 21/34EMA Cross with mildly rising EMAs
and the 50EMA flattening, The 100 as well, a point for Decision and Sunday Globex,
an easy time to vault price after Friday's Price Action.
Levels for a potential retracement are the EMAs. 21/34/50.
There is a Gap overhead, it could come into trade, but based on the weekly charts
it would take a monumental effort, one we do not place a higher degree of Probability
upon.
We are using Last Week's Draw on the WEEKLY TF and watching for the .382 Level to potentially
come into to trade, from there, we will see. Globex this evening should be active.
That said, anything can happen - therefore it is of importance to correlate the following:
- 10Yr Yield
- VXN
- VIX
- DX
Monday by 10AM we will know as Institutional Desks begin in position after the 8AM Bond
positioning.
The FED's Coupon Purchases are somewhat muted as US Secretary of the Treasury Janey Yellen's
latest pronouncement has provided a firm date - October 18th (No accident, a Monday) which provides
DC with a weekend to Fund. Temporary and Stop Gap Fiscal Funding - is immaterial.
________________________________________________________________________
As we have indicated for several months, once this SELL Setup began, we believe it would target the
200 SMA's and break them, trading in close proximity to the 400SMAs.
How this unfolds will be interesting as we can see a simple retracement, followed by an increasing SELL.
Velocity should begin to pick up very soon, or this correction will drag on into November.
It's not where we are going, but for now, how we get there.
The initial Macro Structure gave us 1,000+ points of down - the next will be larger, it is simply a matter
of how it begins to unfold based upon this retracement.
We shall see, we remain in CASH with the exception of 40 TLT 140 Puts, looking to reposition into the
next SELL - which can arrive at any time.
Patience here.
2 Mondays ago gave us the Globex push to 15399, from which Price promptly
Dumped Hard.
TImeframes are telling for October, the Weekly TF is Negative.
The Daily has the 21 below the 34EMA, as both are slowly approaching the 50EMA.
NQ's 200EMA resides @ 13961.
Price has dropped over 1,000 points since the beginning of our SELL Indications.
It has much further to go - 12.485 was our initial indication. We shall see how close
to this Objective in proximity it completes.
________________________________________________________________________
The Hourly, on the flip side, is attempting a 21/34EMA Cross with mildly rising EMAs
and the 50EMA flattening, The 100 as well, a point for Decision and Sunday Globex,
an easy time to vault price after Friday's Price Action.
Levels for a potential retracement are the EMAs. 21/34/50.
There is a Gap overhead, it could come into trade, but based on the weekly charts
it would take a monumental effort, one we do not place a higher degree of Probability
upon.
We are using Last Week's Draw on the WEEKLY TF and watching for the .382 Level to potentially
come into to trade, from there, we will see. Globex this evening should be active.
That said, anything can happen - therefore it is of importance to correlate the following:
- 10Yr Yield
- VXN
- VIX
- DX
Monday by 10AM we will know as Institutional Desks begin in position after the 8AM Bond
positioning.
The FED's Coupon Purchases are somewhat muted as US Secretary of the Treasury Janey Yellen's
latest pronouncement has provided a firm date - October 18th (No accident, a Monday) which provides
DC with a weekend to Fund. Temporary and Stop Gap Fiscal Funding - is immaterial.
________________________________________________________________________
As we have indicated for several months, once this SELL Setup began, we believe it would target the
200 SMA's and break them, trading in close proximity to the 400SMAs.
How this unfolds will be interesting as we can see a simple retracement, followed by an increasing SELL.
Velocity should begin to pick up very soon, or this correction will drag on into November.
It's not where we are going, but for now, how we get there.
The initial Macro Structure gave us 1,000+ points of down - the next will be larger, it is simply a matter
of how it begins to unfold based upon this retracement.
We shall see, we remain in CASH with the exception of 40 TLT 140 Puts, looking to reposition into the
next SELL - which can arrive at any time.
Patience here.