Zooming out to the Weekly TF - Pirce tested the lower Channel Boundary @ 14367.
Price is not trading between the .500 and -.382 @ 14882 and 15004 on the 4Hr as
illustrated in the Prior NQ Observation.
The 4Hr draw which lines up is from the Globex Highs at 15399 to the Lows @ 14367,
it is working for now. We often need to switch up TF's depending on the type and
structure of the rebound.
All the Oscillators are deep in the Negative Region.
The EMAs/SMAs for the 21 / 34 / 50 is not too far off as indicated - just under 15K to
slightly over.
The NQ appears resolute in filling its overhead gap over the 21/34/50 - but can it?
It appears they are attempting to push Price up ahead of all the impending Macro
Data.
We completed the Price Objective at the lower boundary, for now, patience as to
where this competes.
They are desperate to flip the Bars to green...
Let's see how far this goes, prior to rolling back over.
There are far too many negative Data Points, Political Risk, Geopolitical Risk, Global
Economic Risks and EPS Risks to not have this RT fall apart.
The longer this takes... the greater the Risk to downside that could exceed 15%, the
NQ Came off roughly 5% from the Highs.
Price is not trading between the .500 and -.382 @ 14882 and 15004 on the 4Hr as
illustrated in the Prior NQ Observation.
The 4Hr draw which lines up is from the Globex Highs at 15399 to the Lows @ 14367,
it is working for now. We often need to switch up TF's depending on the type and
structure of the rebound.
All the Oscillators are deep in the Negative Region.
The EMAs/SMAs for the 21 / 34 / 50 is not too far off as indicated - just under 15K to
slightly over.
The NQ appears resolute in filling its overhead gap over the 21/34/50 - but can it?
It appears they are attempting to push Price up ahead of all the impending Macro
Data.
We completed the Price Objective at the lower boundary, for now, patience as to
where this competes.
They are desperate to flip the Bars to green...
Let's see how far this goes, prior to rolling back over.
There are far too many negative Data Points, Political Risk, Geopolitical Risk, Global
Economic Risks and EPS Risks to not have this RT fall apart.
The longer this takes... the greater the Risk to downside that could exceed 15%, the
NQ Came off roughly 5% from the Highs.
Comment:
VXN Level to OBSERVE @ 23.82
Comment:
Money Velocity and Flows remain deeply Negative, the next 24 Hours will be very telling.
Was not coffee'd up.