QQQ seems to be in an unstoppable ascending triangle, but will face some pressure here at the upper end of the triangle. I'm going to have to follow the trend here, Qs to the f*kn moon
Buy $NQ (Nasdaq 100) here. Target is close above 5600. Stop could be divided into two parts. 1st is below 5558. Hard stop is 5500. This is in the event something unexpected happens.
So, price walks vey nice within the fork. Until at least the first low is broken, there is no short trade for me. Other then the ES, I see nothing to short this market at this time. P!
Bearish Harmonic Shark pattern completing in the same area as a Bearish Harmonic AB=CD on the daily time frame. This is combined with an intraday Bearish Harmonic Crab completing in the same vicinity. Outside of harmonic patterns, I believe that this will mark the completion of minute b of minor 4 in Elliott Wave speak. Looking to short on the next rally to near...
Nasdaq gap down lower Sunday night in response to the Italy ref. result. right on top of the 0.786 line of the entirely post Trump rally( exclude the over night reaction). A wave B inside of wave E is unfolding.
I am updating my stance to bearish NQ1! 1st target 4444 area
The NASDAQ is starting to make a good bounce. We are still waiting for the Trigger Zone to see if we can get short. Be patient with this bounce.
We are still looking for pullbacks on the $NQ. For that matter you look to the $ES and the $RJ for the same. However, we like the $NQ and will look for the Trigger Zone to get long. The market is in dire need of the pullback and hopefully will give us the opportunity. We WILL NOTE chase at the thee levels. Be patient...the players that be are hell bent on...
We will be looking for any type of pullback in NQ this week. It is clear to us that she wants to test the all time highs and with Apple reporting earnings on Tuesday after the bell it could happen sooner than later. WAIT FOR A PULLBACK...don't chase at these levels. We may not be able to get on board and that is trading. So we will wait to see what Monday and...
Shazam! We have been watching the 4550 area as a long term target if the Nasdaq had legs. Well, those legs grew quick thanks to Google and Amazon earnings after the bell. We were not on this ride. We waited for an opportunity to get long and never got a deep enough pullback...that's trading. NOW WHAT? What ever you do...don't chase at these levels. This has...
The Indexes continue to sell and are in need a of a rest or snap back. We WILL BE HOLLDING OFF on shorting bounces. Rallies can be violent so we will wait to see how far we bounce. There are plenty of good opportunities setting up in GC, E6 and CL. No need to force a trade. Patience pays!
After covering our last trade the NQ is still selling off. We will establish new positions on bounces. For now these will be smaller positions. As we have mentioned...snap back rallies can be violent. Remember NO TRIGGER, NO TRADE!
The NQ has hit its first two targets. Stops have been pulled to lock in more gains. From this point target 3 is open. However we will watch the break down area at 4218, if price starts trading above that area with volume then we will cover the trade and look for another setup. Ideally we would like to get a quick slide to 4150 area but that would be a perfect world!
After two attempts at getting target #2 we failed! Bummer. That's trading and as we've heard many time, "don't be a dick for a tick", we aren't. Price came within 5 points of our target and back away. We believe price is not done testing the down side so we will hold to our plan. These small bounces are on low volume. On the next visit to the recent lows we...
As we creep closer to our second target we are pulling stops to Break Even plus 10 to lock the trade in. We are fairly confident we will see target number 2 early in the session today. Regardless, we want to manage the trade properly. Yo never know when the PPT will swoop in to save the market. ;) Trade well!
We are short the Nasdaq from our post last night. We have set out stops and trigger. While this chart doesn't show it we hit our first target. We will leave stops in the same place and see if we can get Target #2. Stay Tuned
The bulls were squeezed hard on FOMC (and the day after). After many years of trading this is why we stay away from longer term trades until the dust settles. There will be more than enough opportunity to trade. Most of the indexes are at support or have broken their patterns. We expect a small bounce in the $NQ on Monday followed by more selling. An inside...