Historically the last leg of a bull market is EUPHORIA. When waves and structures do not behave in a manner that is consistent with their usual pop correct pop correct price movements. That is a strong indication of distortion and EUPHORIA. You can look at BITCOIN, Gold, NDX in 1999 etc. to see how price moved to understand what we may be entering right now. A...
High base structures fully formed structure resolve to the updside. Happy trading! :)
Been trading against bullish fib line of 1 for ~6000 days continuation of this uptrend are fractals in green and purple, red fractal indicates a drop to fib line of 0 due to the extended time period of this bullish period, I acknowledge that my view may be bias because i prefer to trade cryptocurrency, hence the bullish fractals, but I love making charts. Looks as...
After a 13.5% wave up after an extension of the latest rising megaphone structure that is pointing up and will ultimately resolve to the downside. No one can ever know when a wave will end. Though clues do exist to potential areas of reversal. In such times like this it is dependent on Gov't intervention. QE, REPOS, TWEETS, RATE CUTS, CHINA News, ECB etc.)
Yesterday we saw phase 1 complete in a healthy fashion and today we see phase 2 get underway as it broke the rising megaphone structure. of course, as is the case this entire move up. A single tweet can ruin it all. Manipulation always makes trading investing extremely difficult. But like I kept saying, the law of diminishing returns is always in effect.
NDX has been trading within a Channel Up since July (1W RSi = 64.749, MACD = 236.300, Highs/Lows = 208.4773). Last week that pattern touched the Higher High trend line giving the first Sell Signal. The 1D RSI is on a bearish divergence similar to the late July Higher High. Technically the index must touch at least the 1D MA50 before it resumes the bullish trend,...
The market has had a tremendous rally, but as traders we must realize that no rally can last forever, whilst i am bearish on the market over the longer-term (years), you simply cannot argue with the injection of liquidity from the Fed and the market lover Trump, doing everything he can to keep the market afloat. So in the next market pullback, i believe it will...
As you can see we are experiencing Euphoria right now in the Stocks. Flat corporate profits with rising stock prices. History tells us correction is coming in stock prices. What history doe not tell us, is how long Euphoria will last. I would not dare contest anyone who argues that history is a bad data since we QE did not exist back then. In fact, I would applaud...
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...
HIGHER HIGH Channel line breakout Bearish moving H1 Frame if can red line breakout to 8000 TP potential move
Let the data tell you what is going on! Never tell the data what is going on. All we can do is manage Risk and apply the right strategy as the data comes in. Happy trading this week!
NAS100 SELL Entry 1 8185 Entry 2 8195 Sl 8210 Tp.1 8150 Tp.2 8110 Tp.3 8080
NAS100 SELL Entry 1 8142 Entry 2 8150 Sl 81260 Tp.1 8110 Tp.2 8098 Tp.3 8087
Quick one on QQQ today, as you can see we are a hair away from the 1.272 fib projection ($199.42) from the prior move up (beginning in 2008 at the lows to the swing high/ low in 2015). Will this act as resistance? I would think so, we may have a few more positive days, but these fib levels typically act as quite substantial resistance, this is ignoring the clear...
The Nasdaq is at an important juncture at present time, as you can see we are in a massive rising wedge pattern (that typically resolves to the downside when triggered). But it is also worth examining the last major bubble economy (given the current parallels) namely 2000 and 2007, in order to get a clearer picture of what is on the cards. From what we can see...
$NDX Update time. Bull Flag has formed within the rising channel suggesting all-time highs are coming. In all fairness, Gov't cannot keep pumping trillions of $s and expect the market to correct. So ride till we get a bearish setup. Nothing wrong with that!
What will push the Markets Higher? Multiple Expansion where the market pays more for the same earnings? Earnings Expansion making stocks cheaper and cheaper thus pushing stocks higher and higher? At the end of the day it all comes down to answering this simple question.
This sell will only be valid if NASDAQ breaks the H1 and H4 trend support ---- Check out my recent post. It explains everything.