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HK_L61
Oct 5, 2021 12:31 PM

NQ - 1341 Ticks off the TOP - Low to Low Draws / Range 

E-mini Nasdaq-100 FuturesCME

Description

We can see there is a large range with the 200EMA/SMAs coming
to trade as we move through October.

There can be a small Squeeze as SELLERs took profits into yesterday's
close.

PMI, Final Services PMI, Trade Balance, IBD Optimism Report, FED Speakers,
Budget Noise, Coupon Purchases @ $3.225 Billion 7/10s @ 11AM EST.

A great deal to pay attention to today...

It will be choppy with the potential for a grind higher into ES Session Close.

Crude can Backtest off the 78.90 Level, with 80 a $1 away, OPEC will work their
magic as they are in meeting all week. Leaks should begin appearing shortly.

The VIX must Defend the 22.10/22.15 level. We do have a gap Below on the Daily.

There is a clear compression on the VIX, they are defending another breakup and out
for now. 22.45 currently with the VXN upper range @ 28.80, ALL VX bares close
observation.

11-11:30AM EST will be a pivotal timeframe today as the FED has provided 3B+ for
Squeeze cheese.

10 Year Yields hovering just below 1.50 with 1.545 the breakout.

tradingview.com/chart/Uim6SoEf/?symbol=TVC:US10Y

Today will be one for caution to press SELLs until it proves itself.

CASH 96.22%
Comments
HK_L61
QQQ's at 315 look about right.
RT1050
@HK_L61 HK nice to see you posting during the move. Triple Qs at 315 bring us back to May lows effective canceling entire summer gains. Timeline estimates ? Any
HK_L61
@RT1050,

Stopped at a Hotel as the weather turned.

It should come into Trade in the next month or less. We are simply waiting on the Events to unfold.

Fiscal Issues as well as Yield to Sky, too many vectors to count any one disruptor out.

Look at Tesla claiming to ship a record number of cars Delivered.... Complete BS.

And then there's the issue of China not shipping much of anything here, with over 110 ships offshore
while the current admin backtracks on Tariffs and Trade.

We're rolling over and the Globe knows it.

Let's not forget Taiwan, serious conflict to begin there as tensions are escalating quickly with China
becoming increasingly bellicose and aggressive.

We can drop 15% from the highs, we've got 64% more to come don't the downside.

Toss a dart, there's a great many boards to hit in our Bar.

Watch to see IF they can challenge the 21SMAs... 15087 for NQ, anything is possible as long as
the FED will cough up Coupons to recycle.

It will simply make the next Dump that much worse.

We indicated a retracement today, let's see where we land at the close.
RT1050
Agree with all points and fully aware of the Taiwan powder keg. I too felt with Toyota sales off 30 or 40% that Tesla numbers and Nio for that matter must be BS. Of coarse, all Fed numbers are fiction as well. Stay safe and hope all goes well for you
HK_L61
@RT1050, You too, the illusion is strong but fading quickly...
HK_L61
VXN tests 26.36 / .382

And

Leaves a Gap @ 27.90
HK_L61
ES 4328 - 4338 should provide an interesting level, the NQ is racing towards the 50 @ 601
with the Upper Trend Line of the Daily Downtrend.

VXN Breaks .500

What's the rush :)
HK_L61
And here is our CT - Let us see where they take it 624 - 701 is OPEN.

573 is well short to 60 1-624 into 10AM EST.

VXN reversed off .500 @ 26.83.

They need 600+ for a squeeze, perhaps when FED provides at 11 AM EST.
HK_L61
SOLD 700 x 12 - Closed 683
HK_L61
@HK_L61, SOLD 690 x 12 Closed 670
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