Cup and Handle formed on Nasdaq and since then the price has rocketed up. We still have bullish confirmation of further upside. 7>21>200 RSI>50 (Higher lows) Target remains at 16,073 One could even lock in half profits here and raise stop to above breakeven. Fundamentals: With the Big 7 outperforming this year, we are seeing the innovation of AI,...
Nasdaq is on the 4th red 1D candle in a row with 4H technicals turning bearish (RSI = 42.946, MACD = -13.870, ADX = 40.063) while the 1D RSI is testing the HL trendline for the 4th time since December 28th 2022. If it crosses it, we will have a first bearish warning that the 4H MA50 may break for the first time since April 25th, where we will sell and target the...
Bringing indices up again, Let's look at the SHORT TERM first. (Unfortunately can only show 1 chart, see profile for more info) DJ:DJI longer term still showing an ascending triangle, current pattern is sideways channel, there's some negative divergence. NASDAQ:NDX maintains the uptrend, HOWEVER - we're seeing SEVERE negative divergence. SP:SPX also in...
On the hourly timeframe, Nasdaq has established an expanding channel with a notable resistance level at $15250, which has recently acted as a sell zone. Currently, we are anticipating the price to validate a breakout below the lower boundary of the channel. Once confirmed, we will consider entering a short position.
CBOE:VIX had a $3 bounce from 13.60 call we made. #Stocks did move a tad higher from that call but are now at the levels when the call was made SP:SPX held red 10 day EMA (exponential Moving Average). Sell volume has been coming in @ the higher levels. Hmmm. NASDAQ:NDX #SPX $ TVC:DJI are all showing negative divergence. This is interesting. Is the...
Was charting TQQQ so will just use this chart. I am -2% on a small SQQQ position but adding here. Arguably a double top. If it gets out of that channel possible violent drop I dont want to have to catch. 50% position, will add if we go up. Stops at acceptable loss. Not advise.
Hello everyone! Today we will talk about five different important concepts. Many things are happening in markets, so I will create similar reports to help people understand why things are how they are. This will be my first report, so it might be a bit harder to go through, especially because on Tradingview, I can't easily share economic data or random...
Nasdaq hit Resistance A (15280) again and so far struggles to break it. In accordance to three similar such patterns inside this year's Channel Up, the price may now pull back to a new 2 week low near the 1day MA50. Buy this pull back and target 15500. The 4hour RSI holding its Rising Support, should favor this trade. If the price closes under the 4hour MA50,...
Hello traders! We are now analizing possible NDX Elliott Wave counts possibilities. Starting from October's low, price created a leading diagonal (or triple three), labeled as wave W, followed by a double zig zag. This movement stopped at 15280, declining in a corrective wave and now retracing towards previous top. This outlines three possibilities: 1.- The whole...
Do read the trade plan I put for NDX. But basically, would like to look for a failed rally to short for a move lower. Do also check out my plan for SPX on the possible timeline it will happen.
2020 may well have been the year of the massive rises in the value of stocks of Silicon Valley-based big tech companies, largely because their area of 'tech' is around e-commerce, social networks, online streaming services and internet access. This new era of what constitutes technology – online services rather than mechanical engineering – means that during...
NDX made a nice up move as per trade plan given last Friday (). Overall, NDX is very bullish the past month with AAPL and NVDA at ATH. Weekly wise also no bearish divergence. What is strong will continue to be strong till it is not. Likely market would need further upside to call a top. For today, will like to see a dip to the PZ to go long. If market instead...
The bears enjoyed their cycle to the maximum, peak fear is behind us. Observe your favorite pundits to determine if they have shifted their perception yet. Many have not, Many remain Bearish and are greedily awaiting one more Deep Indiscriminate Sell Off.... they will likely wait forever. The first rule of any technology used in a business is that...
If this head and shoulders pattern on /NQ breaks down, it can target about 14850, as that is the measured move of the pattern.
Lucid and Rivian, both new components of the NASDAQ:NDX , have been showing up on the High-Volume Institutional Activity recently. NASDAQ:LCID has the beginnings of a bottom attempt developing with a Dark Pool buy zone emerging, but it's been slow-going for this EV company. Professional short-term trading is evident in the current run up, as it is in other EV...
Nasdaq has been pulling back since the June 16th High, which was a HH on the Channel Up pattern, but this sequence isn't yet completed. The 1D time frame remains technically bullish (RSI = 62.049, MACD = 275.090, ADX = 32.676) but the price hasn't yet reached neither the bottom of the Channel Up nor the 4H MA50. We remain short targeting that level (TP = 14,600)...
Nasdaq hit the MA50 (4h) today and crossed over the short term Channel Down as well, but the candle closed back inside the Channel and under the MA50. This is a sell indication and unless it closes above it, we expect a test of the MA200 (4h) given the fact that the MA100 is already broken. Trading Plan: 1. Sell on the current market price or at Resistance...
Good Morning SMALL THREAD While we did call the NASDAQ:NDX weakness & top, at that time we didn't think it would be as bad as it got, at least I didn't. Last year we really thought TVC:VIX would break out & the markets would collapse. Our original expectations didn't pan out but we, mostly I, changed as more data came in. We called a bunch of bounces &...