Price looking pretty bearish right now, as we consolidating below the key support levels. Unless, we see a jump soon a bearish breakout seems more and more likely. Next key support level at 14,700.
Dippers... it is painful.
When to BUy for the Retracemnbt that does not arrive...
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Retail is looking at the following:
50 SMA @ 16103
100 SMA @ 15710
200 SMA @ 143986
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Problem is:
.618 Ext @ 14771
1.618 Ext @ 14156
Our Indicated Levels for 1C now...
The 10 Year Yield is retesting the Highs.
DX is steady.
ZN is Steady.
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Will Yields pullback or accelerate...
The 21 EMA is vital to any further Counter-Trend.
Should NQ test and Fail - it is going much lower
quickly.
The 21 / 55 EMA Cross is defended this week or it fails.
MKL Trading was a Toss.
NQ traded a 150 Tick Range while the Bond Market was Closed
due to the Holiday.
The Hang Seng was down -139.0.
Global Markets were mixed absent Higher Participation.
Larger TF's - in particular the 4Hr were ranging in indecision.
The real Price Action begins tomorrow ahead of Q4 EPS, warnings
have been non-existent. They should...
So this is a follow up on my short fractal idea I posted last month. So far we are still seeing the short pattern develop BUT on the longer time frames we are still bullish and in an uptrend. There really isn't a big red flag yet in this market other than if you really pick through the internals of the market. Not to mention so many of the high flyer tech stocks...
In doing my homework - I've trying to determine whether this market can rally in the weeks ahead?
With a 3 Trillion dollar market cap you need $APPL - As matter of fact if you watch Apple trade you can see the S&P 500 move almost exactly the same. Which never ends well on long enough timeline.
I reduced the number of indicators to keep the chart clean. They...
NQ has been far more challenging due to the Distribution within Growth Sectors.
It has been extremely Complex.
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1B can have extreme VX but should be contained from 15911 to 15956.
We won't know until it trades.
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Three is...
I've been observing some correlation between Bitcoin and Nasdaq. It seems that every time Nasdaq starts to sell off a bit, Bitcoin does as well. Could Nasdaq serve as a possible indicator for Bitcoin? Something to continue to monitor.
Sell the Spikes is the overwhelming message here.
We will see how far they can push this, the upper limits are
within the Prior Daily NQ COmmentary for the Primary Resistance.
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The AO is attempting to push to the ZERO Line.
I highly doubt it can hold above Zero for more than 12 hours or 3 Bars.
Today we will take a look at DKNG.
The first thing to mention is that the price has reached a significant level composed of a support and a cloned trendline of the current descending movement or corrective movement.
From here, we can see an inner descending trendline inside the correction (yellow line). That trendline is really important to provide us with...
This is the monthly chart of CL futures.
Will history repeat itself? Back in April of 2000 CL set off a monthly bearish spike alert and around that same timeperiod NQ & ES made there last ATH's until Sept 2016 & April 2013 respectively. The long term non-horizontal monthly trend lines (blue lines) also look eerily similar. The blue lines run along the monthly...
NDX is completing a complex correction, unless this is a topping pattern. Signals are mixed, let’s take a look.
Geometry:
NDX has closed right above the lower channel boundary on Friday. Another trend line (in red) provides confluence. So far, the channel remains intact. The XLK however printed a rising broadening wedge, a bearish pattern.
Oscillators
We have no...
NQ bounced off of the channel line, I said it would pre-market because it always does. Gotta admit I had my doubts mid-day since the rally was really late today.
Algos still doing pump and dumps, the volume shows they have not quit yet. I guess they're gonna keep NQ in the channel by pumping the living crap out of TSLA, AAPL, and chip stocks, lol. Plus all my...
I'll be taking today off from Commentary until the Long Weekend for Updates.
Here are the 2 possible structures:
One implies we are in 3/5 of larger 4/5 Correction - this would be a dramatic selloff
gaining momentum.
OR
We remain in 2/5 of the larger 4/5 which would imply a retracement.
ITs' Friday.
Very Low liquidity... it could be another large down Day or...
Today, the Nasdaq 100 index dropped below its key technical level at 15 538 USD - which currently acts as immediate support/resistance. We think this is a very bearish occurrence and one that can potentially mark the beginning of downtrend for NQ1!. This view is also supported by bearish technical indicators on the daily and the weekly time frames. Additionally,...
