Nasdaq is having an enormous rally since last December and the Double Bottom, with even the 1W time frame turning massively overbought (RSI = 74.522, MACD = 645.290, ADX = 53.716). The Double Bottom was formed on the Zone of the All Time High before the COVID crash. The market has filled a massive gap and this is why it has been rising so aggressively since the...
Seeing major problems unfolding in Japan right now due to the QE of Japanese Government Bonds. This is almost like a repeat of 1980-1990s Japan's M3 has gone exponential to the point some of this Yen is causing local inflation to rise. When Japan was forced to raise rates due to the Ni225 creating unwanted inflation Japan's equity market imploded and the rush...
Nasdaq has been trading inside two Channel Up patterns, one on the medium and one on the long term, which we've outlined in all recent ideas. The current bullish wave has identical measures with those of the 2nd part of March and 2nd part of January. It is highly probable with the current buying momentum to seek and complete this impulse and break over both...
We have monthly OpEx this week and futures contract rollover. Options are pointing to a move down to 4250 on SPX first and then based on CPI and PPI, a potential dump to 4150 or a ramp to 4400. Expect a 125pt move from 4300 above/below. Flip point would be 4290-4310 , can treat that as no mans land.
🔹NDX shows strong development within a rising trend channel in the long term. 🔹NDX has risen strongly since the positive signal from the DOUBLE BOTTOM formation at the break through resistance at 12042. 🔹NDX has support at 13000 and resistance at 16500. 🔹Overall assessed as technically positive for the long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB...
NASDAQ:NDX is having a TOUGH time here The RSI collapsed Not crazy about 4Hr action atm CBOE:SPX & DJ:DJI are also struggling bit here but don't look as bad as the #NDXdoes Small resistance in this area, pause time? #stocks
Nasdaq is having a standard technical pull back turning the 4H time frame neutral (RSI = 52.452, MACD = -2.890, ADX = 30.912) but the 1D remains bullish as since March 13th, the index has been trading inside a Channel Up pattern. As the chart shows, every crossing under the 4H MA50 has been a buy signal (2 times) unless when the 4H MA100 broke as well, in which...
The bears have taken out the bulls recently, Meta stock might continue to fall using the FVG price action strategy, the next liquidity level seems to be near the 255 area. Banks are long META, long term seems bullish still on monthly chart.
AMEX:RSP looks okay to me (Equal weight SP:SPX ) TVC:RUT / AMEX:IWM also looks okay Question: What is the common theme? HEAVY VOLUME!!! Buys are heavier than normal for those 2 indices and NASDAQ:NDX / NASDAQ:QQQ has selling that's lil heavier than normal Looks like rotation IMO Our calls were on the money again... #stocks
Nasdaq got rejected near the top of the 6 month Channel Up. The narrower Channel Up however made an exact Higher High and the rejection today is a natural technical consequence. This is most likely starting the 3rd correction wave. Each wave has been less aggressive than the previous. The breaking under the 4hour MA50 is the sell confirmation. Target the...
Breadth has gotten better compared to last week AMEX:RSP vs AMEX:SPY - Equal weight has outperformed TVC:RUT Russell 2k pumping as well, our call on break looking good NASDAQ:NDX looks to have short term topped - most flyers here DJ:DJI hanging on - underperforming assets could be prepping to move 💵 could be moving from high flyers, it seems
NASDAQ Has formed a beautiful H&S pattern - yesterday we maximised the buy positions on the base, with rejection at the S Resistance we can possibly see the pattern playout - I would like a retest on the S resistance before taking shorts and then selling down to the base and then the main target at 14416. If price breaks S resistance then we can see Nasdaq...
Nasdaq's (NDX) incredible run (left chart) since the start of the year (+37%) has seen the index break above the Last Lower High of the Bear Cycle (13730) while at the same time avoiding a Death Cross on the 1W time-frame in epic fashion. It even broke above the RSI Resistance of the price's ATH (when the index was on its All Time High). At the same time, the...
Similar to my SPX idea, the NDX seems to be forming a 5-wave impulse off the back of the AI enthusiasm. I expect a bullish pullback to pull the index lower towards the 61.8% Fibonacci retracement level of $14,000 which will flip from a resistance to a support. A break below $14,000 will allow the index to slide into the support range between $13,500 and $13,700. A...
I have to admit, most, if not all, Elliott Wavers were shot in the head this year with the rising market. Personally, I was caught off guard by the strong upmove too. For any EW and macro speculator, the upmove in 2023 don't make sense. It is irrational. In fact, it could be irrational exuberance again. But as time passes, the truth starts to unfold: the market...
I was really waiting for the market to go from the minimum numbers to the correction of the E wave, but this wave has reached its maximum numbers, which shows that the next correction wave is more time-consuming, but there is great power in the next upward wave. I think this week we will see maximum numbers in the index and there is at least 3 months of...
Hello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that over the past couple of weeks, the Nasdaq had an insane rally towards the upside of roughly 25% and is now approaching weekly resistance. Considering the fact that the overall trend is still very bullish I just do expect a short term...
Nasdaq (NDX) easily hit the 14350 Target that we called on our last analysis (see chart below) 10 days ago: The price even broke above the 0.618 Fibonacci retracement level from the All Time Highs and hit the top of the March 13 Channel Up. However there is still some room left before hitting the top of the long-term Channel Up that started after the January...