Hello Traders, In our previous posts,linked in the description, we've been tracking the last zig-zag of this primary wave (B) as it ascends. Our calculated completion targets fall within the yellow area, coinciding with the bullish descending broadening wedge targets, as well as the point where Y equals Z. This symmetry between the two most recent zig-zags in...
NDX made a huge recovery after the initial sell off, hitting the weekly BZ and rebounded; I would say the initial up was technical, price is oversold at BB extremes but the subsequent rally was due to NDVA. Price is now supported by the BZ and PZ at the same prices thus a double support. TBH, I thought the rally was rubbish but price action is looking bullish...
The stock market just flashed the first sign that investors think the Silicon Valley Bank crisis is over. 👉 The CBOE Volatility Index VIX closed below the 20 level on Wednesday, for the first time since SVB - The Silicon Valley Bank collapsed. That is basically could be a constructive sign and is certainly counter to the general gloom of investors post...
You are looking at the 1h chart of the NDQ. Based on my EWC it looks like this pullback is just another bullish retracement which could find support. We started pulling back after reaching 1.618 (iii) vs. (i) which is the most common fibonacci target for third waves. Questions are ALWAYS welcome, trade safe!
Yesterday's trade plan gave the top of and price sold off to the lows nicely. Price action looks bearish, looking for further downside with 13801 as max of day. BZ below is support but once 13623 break, 13503 is next.
Since the December lows of 3788 ES, I have been tracking a triangle pattern that would have reconciled higher in my target box for a larger B-wave. Readers can look at previous postings to see what I have been forecasting. Last week, SPX Futures breached the 4208.50 level. So, with that, the final micro target of an e-wave was invalidated and thus the triangle...
Take a look at our analysis for NDX. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 13844.86. The above observations make me that the market will inevitably achieve 14610.61 level. P.S Overbought describes a period of time where there has been a...
Nasdaq (NDX) hit last Thursday our long-term target (see idea below) of the August 16 2022 Resistance and even though it took longer than anticipated, it finally filled that Gap: The pattern that is directing the price action higher is a Rising Wedge and right now the price is very close to its top (Higher Highs trend-line). However coming off a 1D MACD...
NDX is similar to SPX (with the lower higher lower low candle yesterday) but it is stronger and market made a new high this morning. Note it hit resistance at the same time SPX hit the resistance. Similar to SPX, would say be cautiously bullish above PZ 13825 but look to go short for yet another move to BZ if it breaks. Overall, IMO NDX is poised for a pullback...
Nasdaq index, did you know that this index has an upward trend in the past two weeks? Well, interestingly, Bitcoin also has and I announced this in my analysis. Well, how far the index should go up, you should be careful, I won't say here if it goes up. Two more targets will not be seen, the first target is 15265.42, the index will go up to this price. Our...
Nasdaq hit all of our targets on this bullish leg and even crossed over the 13750 High of August 2022 (Resistance 1). The MA50 (1d) is supporting the Channel Up and Rising Wedge patterns but the RSI (1d) is overbought above 70.00 for the 3rd straight day. As the price is that close to the top of the Rising Wedge, overbought pressure may start kicking in...
We got a very bullish price action since last 2 weeks. Looking for a retracement at 12850 level and then a higher high to 13500 I would like to go short around 13100 level and possible target is 12850-12900 with 13150 as the stop loss. Please share your thoughts. Thank you
The debt ceiling in the US is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury. President Biden and House Speaker Kevin McCarthy are set to hold a direct meeting on Monday following a weekend of intermittent negotiations regarding the nation's debt ceiling. This meeting takes place just days before the government faces a...
Nasdaq has been rallying hard the past few weeks, thanks to tech rally due to recent growth opportunities provided by rise of AI. But Nasdaq is reaching significant levels both from S/R perspective and market structure. 1.We are reaching the top edge of the parallel channel 2.We are at PRZ of couple of harmonics (Cypher and BAT). 3. Also, within very close...
Where do you think we are? Red? Or Green? Are we at a bottom before we see a blow-off top coming? Or are we in recessionary beginnings like 2008?
My EWC suggests we could be seeing much more upside in the future. Guess we'll have to find out!
The Nasdaq has shown remarkable strength throughout the year, outperforming market expectations and surprising many investment strategists. In late January 2023, the index experienced a bullish breakout, marking a significant positive signal for growth after a year-long downtrend. However, it's important to note that a bearish pattern has recently emerged,...
Nasdaq hit and crossed today over R1 (13,730) which was the High of August 16th 2022, the last major Resistance standing. It did so however on an overbought 1D technical timeframe (RSI = 70.248, MACD = 173.650, ADX = 31.828), which is a bell to start booking profits, especially since the price is approaching the top (HH trendline) of the Rising Wedge, the pattern...