Historically, the YELLOW support area NEVER holds when TVC:DXY is on its way back down.
HOWEVER, the US #Dollar is showing strength. (this is vs a basket of currencies that are also weak.) 1st time it bounced back this hard.
This looks like it wants to keep going, longer term. We'll see.
This is NOT good for #stocks (longer term).
TVC:TNX has been trading closely.
Nasdaq remains bearish on the 1D timeframe (RSI = 40.412, MACD = -138.180, ADX = 35.654) but it is on the HL trendline, the supporting trendline that emerged on the December 28th 2022 low. According to the 1D RSI, comparisons can be made with the September-October 2020 consolidation fractal around the 1D MA50, following the COVID recovery. After the 1D MA50 got...
Nasdaq / US100 is consolidating around the 4hour MA50. It is a similar Cup and Handle pattern with August 24th.
Buy and target 15050 (4hour MA200). Then wait for a 1day pull back. Re-buy and target 15330 (Fibonacci 0.382) under the Falling Resistance.
RSI patterns identical, both showing we are in the phase of the 4hour MA50 consolidation.
Previous chart:
...
The NASDAQ has been performing extremely well for the year, and a special rebalance was put into effect in July to slow down the NASDAQ’s growth. Currently the NASDAQ has support in the EMA ribbon, which also intersects with the white support zone and yellow support line. This yellow support line has been acting as a support level since January 2023. I think the...
I also believe that SQQQ will form a new all-time low below $16.92 in Q4. Currently SQQQ is sitting directly below a resistance zone between $20.90 and $21.74, and the EMA ribbon is acting as an area of resistance. For bears that are long on SQQQ, the yellow resistance zone is a key price target and the next key price target on the way up is $29.19.
QQQ lost a support level during the last week of Q3. The last time this happened QQQ climbed up to a new all-time high in 2021 (shown by the yellow arrows). I believe the NASDAQ and its leverage-related ETFs are trending up to a new all-time high over the next few months (marked by the green circle). However, there was a special rebalance that occurred in July...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
SPX is plowing through higher highs. It is a runaway train.
Have you entered that train yet? You better enter it because SPX will soar!
But runaway trains have the fate of collapsing in on themselves.
Their weight is too much for the foundation to sustain.
Not all is SPX. VIX is also attempting to measure the risk involved in SPX.
And VIX is as bullish as it...
Nasdaq hit yesterday the Falling Support of the Falling Wedge pattern as well as the Rising Support and is posting today the 2nd straight green (1d) candle.
At the same time, the RSI (1d) formed a Double Bottom.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 15300 (Falling Resistance and 0.786 Fib).
Tips:
1. The RSI (1d) is under a Falling...
We've been seeing NASDAQ index volume decline since mid-July. The rise slowed down and even came to a halt. Therefore, we expect a decline for NASDAQ in the coming period. This decline will reach the 200-day moving average of $14250. But the weekly close could be above $14550 in any case. At this level, purchases of US stocks can be considered.
Quick take here before signing off. We’re already seeing a buy side reaction in US equity indexes as the ES (S&P 500) came very close to filling its downside futures gap. We captured the S&P 500 idea in a post several hours ago (). If equities retest lower, which we believe they’re likely to, the NQ has a couple solid demand/buy zones (green lines) not too far...
Stated a while ago, not sure if we posted here but did elsewhere (see profile), that we had short term Treasury exposure @ 50% but it's 75% atm. (it's a placeholder until trend changes)
Should've been shorting the entire time down.
TVC:DJI @ support but this area has not been a strong level.
However, we are severely oversold so that bounce can be close & it...
Introduction
I lost a lot of money when I began trading in 2018, and truth be told I have not made it all back yet. For years I blew up accounts not being able to recognize bull traps and properly set my stop losses (or take profits) and I engaged in a lot of capital destruction. As such I have spent a lot of time trying to make sure I don’t destroy more of my...
Unfortunately i couldn't post this at the time of the entry, however the trade is still equitable if taken now.
Nasdaq short for reasons shown on the chart.
Comment any questions you have.
