NAS100 USD NQ1! NASDAQ 2021 DEC 20
NAS100 USD NQ1! NASDAQ 2021 DEC 20
Market in rotation between 15540 - 16460, approx. 920pt
range. Some demand is supporting the market.
Given market is in rotation, preference is to execute
trades preferably at 15540 / 15650 / 16460 levels.
Holiday is round the corner, so if you see low volume,
please stay out since it is cheaper to take out stops by
whipsawing the market.
Weekly: Average volume down bar closing off low =
Some demand is supporting the market.
(Weekly chart remains in uptrend)
Daily= Average volume down bar closing slightly
below 50% of bar. Same effort as previous week but only
managed about a third of the range of previous week's
bar. = There is some demand supporting the market, but
no decisive bull/bear control. Given the bar closed off
its low, we may see an attempt for the upper boundary of
the rotation zone @ 16460.
(Daily chart still in uptrend, but market is in a pause.)
H4: Ultra high volume Up bar closing off high followed by
average volume down bar = weakness. Moreover, compare
the effort/result of bar A vs B, it is obvious greater effort
and lesser result = weakness
16695
16458 16000
15651 15538
15000 14585
Short on Test and Reject | Long on Test and Accept
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Have a profitable trading week ahead &
Wishing all a blessed Christmas.
