Possible NASDAQ100 BUY setup for the start of the week.
Trade on Confirmation @7755. If you already have a buy HOLD!
Analysis by Kangiten Trades(PTY) Ltd
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Almost becoming a standard for the stock market to bounce right back up again after some bad bearish news and price action. This time there is a chance things might be a bit different though. On the left it looks like there is a real resistance zone now inside this bear flag. I have not posted much about these markets, because the noise has been extreme past year....
Nasdaq has just crossed above the 1D MA50 on a very bullish technical outlook (RSI = 58.618, MACD = 2.240, Highs/Lows = 131.2143). The index is repeating the 2018 bull trend with the Highs and Lows price drops almost identical. As a result we have calculated the next High to be at 8,300 and this is our medium term target.
Note that this comparison has been very...
Let's see what happens?
PLEASE DO NOT FORGET THAT NASDAQ100 IS VERY SENSITIVE TO FUNDAMENTALS NEWS
Meaning that anything involving Trump affects the movement dramatically, and right as of now Trump is about to have a meeting with CHINA.
Until SPX cash closes below 2800, trend is still up. I see both bull and bear cases possible. I'm still leaning bullish as everyone is calling for a bear market or lower low just like Dec bottom, everyone was calling for a retest but we went on to make new aths. CB's will keep easing like or not, and companies are buying back their stocks aggressively. Again, at...
This weekend will be a real test for NASDAQ.
If Nasdaq is able to establish itself properly above the resistance line at 8155, the potential for the rise will be large.
The technical data (Trend, Ichimoku Indicator) supports further gains.
What happened if NASDAQ has:
1. Double Peak
3. Bearish Wedge
The answer is short.
Back to my VIX study one week ago which showed a bullish divergence, I expect more drop in S&P500 as well as NASDAQ, too.
Nasdaq is currently pulling back on 4H (ADX = 31.230, Highs/Lows = -6.9555, B/BP = -62.1072) after the relentless run at the beginning of June. This pattern is identical to January - March 2018, when after the current pull back was completed a strong +8.60% rise took place. Our medium term TP is 8,000.
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Nasdaq Futures (NQ_F) shows a higher high sequence from June 4 low, favoring further upside. Short term, rally to 7600.75 ended wave (1) and pullback to 7421.48 ended wave (2). Wave (3) rally is in progress as an impulse Elliott Wave structure. Up from 7421.48, wave ((i)) ended at 7536 and wave ((ii)) pullback ended at 7477.75. Wave ((iii)) is expected to end soon...
As you problably know : the following week is the famouse witches sabbath.
Hedges and investors sentiment are pretty bad, market are like a glashouse. Just a stone and anything will fall apart.
Watch the shocking insider selling today cnbc.com
To watch : Fed decision, iranVsUs, Italia vs EU, China vs US, Debt.
Big companies in Europe a canceling...
I called the last bottom in dec 2018, let's see if I can get this one right.
Buying at 7126 / Closing 7300ish
Strong indication of a bounce this week, I'd bet you could throw 1/3 your stack here at 7120 and 1/3 at 6950 and you're nearly guaranteed to break even at worst.
The Mexican tariff news is BS, no way it's enforceable, it's going to take 1 tweet from...
We have a rising trend, Stochastic in the correct range to open a positivity on the NASDAQ, Ichimoku indicator supports further long-term gains, and if we finish a green week it is a positive sign after the star-candle
For newcomers, check my last few charts, I'm currently 3 or 4 in a row for solid wins/predictions. AUD/USD was the weakest but I believe that has more to do with fundamentals and Australia lowering their interest rate which devalues the currency. The original bounce itself on AUDUSDwas great though.
Just closed my shorts from 05/05/19. I originally had...