The NQ is one of the trappiest contracts out there, so watch what happens at this level. It's worth zooming in to the 15m just to study the aftereffects in a few days. The longer it builds up near the High WITHOUT breaking it, the more I'll be biased long. If we probe it overnight, I'll be back to cautiously looking. Ideally I either want a naked attack in the...
This is posted for historic reference in case the market cracks here and goes down as expected. All three major indices look bearish to me. S&P500 Double top Daily price (Aug 21st, 2018) upside wick is outside upper bollinger band. Nasdaq NQ has been hugging channel support line hard and is about ready to slide out from exhaustion (see first...
I am still bearish for the NQ. Even though it had bit of recovery in the last hour on Friday, the future didn't achieved to go above the 7450 again. The underlying index looks even worse. RSI on the daily in downtrend. As well the other leading US index futures on YM and ES in the direction downwards (for YM I even think it can lose some 1000 points over the...
Hello Traders, Today we will have a look at NASDAQ in the 1-hour timeframe. Short-term Elliott wave analysis suggests that the decline to $7167.37 low ended blue wave (2) pullback. The internals of that pullback unfolded as Elliott Wave Flat correction where red wave A ended at $7311.50 low. Above from there, the bounce to $7530 high ended red wave B bounce as...
Nasdaq has reached our first target and today, continuation will depend on Apple earnings.
Nasdaq picking up where it left off. Our T1 is close to being hit. We are in favour of re-loading shorts on short-term retracements into this move.
Nasdaq is on a simple 1D Channel Up (RSI = 63.030) halfway from completing a very aggressive Higher High candle sequence (MACD = 87.610, Highs/Lows = 108.2500, B/BP = 183.1400). As seen on the chart it posts recurring patterns that can help us calculate the next High, which should be around 7,700. Our long's TP = 7,640.
Video Nr. 2 I continue the analysis from Video Nr. 1 and show you, why the market is so extremely stretched, and why you need to be super cautious these days. If you like to learn more about the Pitchforks and how they produce great trades, then here's how you can get your free course: 1. Klick the link at the bottom to get to our website. 2. Register for the...
From my chart analysis, the NASDAQ appears to be hitting prior resistance, finishing up an Elliott wave double combo pattern, finishing the completion of a bearish Bat, and is overbought on the stochastic indicator. Will look for triggers to enter on a lower time frame once and if the Stochastic indicator crosses the 80 line. If entered looking at target of...
Went back to the drawing boards and came across another individual's post which was my original inspiration for charting it out myself. I want to give him his rightful credit for this and plan on including him on this post. @Markrivest However, when I began to chart it out on the 4hr (I have a few different ideas on different timeframes and my 4hr wasn't quite...
Hello traders! We want to share with you pretty clear and recognizable pattern on Nasdaq! According to correlations with other stocks, we assume that stocks may face a hard drop. We can clearly count five waves down from 7358 highs, which suggest a bearish reversal, but the most important is that we see only three waves (A)-(B)-(C) of corrective recovery back to...
just an exercise in polishing my crystal ball looking for a Q's ;-)
One of the quicker, catch-you-on-the-wrong-side type of trades out there. Technicals look ripe for this scenario to play out. Red Line is "Unsustainable" Trend support. (Nothing like in January though) Blue Line is "Return to Mean" Trend support. Horizontal Black Line is "Middle-of-Range" support. Thick falling and horizontal black lines are prior descending...
The ADX reading on monthly charts shows that the bullish trend is likely to peak soon because readings are similar to those that occurred in 2014/15. Signs of a peak are forming, although confirmation of a shift is needed. Confirmation would occur with more significant activity below the 10-month average, green line. Key supports are Fibonacci retracements....
2 reasons on 2 timeframes. The 2 drops could have been a warning for a bigger down move to come. Happy to be proven wrong but I can't find any reason to be bullish at this stage.
NASDAQ is in the final stages of the third Elliott wave which started at 6460 (dark blue). It appears to have already completed four minor waves (green) and is currently in its fifth leg. Further, if you drill down, you would notice that the fifth green wave has also completed four minute waves (pink) and the fifth pink wave has completed three sub-minute waves...
Today we saw perhaps one of the best days since the February correction in Nasdaq. Economic data looks "strong" (I have negative bias on economy health, so I'm using ""), and markets are up broadly. But, various signs show that today's action looks suspicious. Take NQ, for example. I marked out all recent NFP releases so you can see the market reaction. Notice how...