The Nasdaq is about to cross the resistance line at 14883 points, which means that new all-time highs are coming! We expect the index to further rise until at least 15001 points, before new corrections come our way.
NAS100USD 2021 JUL 19 WEEK
Long on dip worked well, followed by triple top rejection and market moved mightily to
reach intermediate support 14683 last week.
Let's see next week if bearish momentum follows through next week.
Weekly: Hidden upthrust = Weakness
Daily = Bearish
H4 = Bearish
We have a huge rsi divergence on weekly timeframe for WHSELFINVEST:USTECH100CFD that probably indicates us a retest of the support zone at the 14085 level.
The pattern that is configured is W with retest of the neckline, a healthy movement of correction that could subsequently lead to higher levels.
The operations that can be followed are 2 :
Maybe not before big tech earnings, but this is a September 2020 playbook in the making. Expecting a blow-off top anywhere between 15,000 to 15,500 but will not trade against this monster unless clear signs of reversal are forming on hourly timeframes.
Current price action, RSI's and volume indicators certainly warn of overheating territories yet we can and we...
The Nasdaq is pushing and pushing while looking stronger than ever! After fully clearing the resistance at 14225 points, we expect the tech index to further reach for quotations around 14680 points. So, everything is more than fine here.
Good times ahead!
NQ1! reached 14000 points and our previous medium term price target. Technicals remain bullish. Therefore we would like to update our medium term price target to 14200 points.
Previous developements from 2nd June 2021:
Disclaimer: This analysis is not intended to...
The weekly chart of the Nasdaq 100 is representing classical bearish divergence (Higher highs in price not being confirmed by lower highs in the RSI indicator). This is telling me that momentum is slowing and we could expect a rapid decline in price at any moment. As this is a weekly chart, it can take some time but this is just a warning and I would strongly...
Recently some of our readers requested analysis of indices. Because of that we prepared simple and concise analysis of continuous futures contract NQ1!. Technicals such as MACD, RSI and Stochastics are all bullish. However, resistance sits at 13900.50 points and current trend is very weak which is reflected in low ADX value. Though, we think there is still strong...
The Tech Index has recovered and is on its way to establish another long bullish run. First, we see a correction coming up, but then the course should turn up north. In total, we expect the Nasdaq to reach regions of around 14351 points.
2021 May 31 NAS100USD (Intraday)
Weekly = Bullish | Daily = TBC | H4 = Bullish
Per last week's analysis, scenario 1 happened.
Price returned to test 13396 - 13425. Hope you had profited from the long opportunity.
Market currently in rotation (grey box) just below a previous resistance, volume is...
The market remains in a clear uptrend but the buy side progress is stalling. The last week consolidation, in a narrow range, suggests a directional move is coming. The action is interrupted by a US Holiday on Monday. The price may continue to grind through the above consolidation area aiming to reach the all time high or make a move to retest the main trend line....
NQ is struggling to break through 13710, as seen on the M30 time frame, and it could be just a matter of time before it heads back down.
Major support estimates around 13680, 13648, 13618
Major resistance estimates around 13740, 13771, 13802
Divergence on the RSI 4 times! Usually after 3 there's no going back but sometimes with things like Bitcoin or apparently the Nasdaq, you can have more because of the FOMO.
We hit the 2.5-2.618 fib extension from the prior wave I cycle as shown.
I'm thinking we enter a complex wave 4 of larger cycle degree soon.
It's gonna be nasty and a lot of tech companies...
The market is in the correction mode. The recent bear flag is intact. A new leg down is expected for the pattern to succeed.
Buyers need a motivation to create a strong moment to slice through 20 MA. The first test found responsive sellers.
The month end is approaching and the Memorial Holiday may lift the buyers spirit to make the move.
The sell side sees...