Wide look - 1994 - 2022 massive broadenings that can range 35-50% drawdowns. A widening in price indicating volatility triggered by macro and micro events. This year's high to low 25% or 1182 points on the SP500.
On the daily inside this 8 month broadening pattern - while we've seen rally's and flushes, all it did was build up this pattern.
Zero volume analysis...
Im shorting this move today and will hold into the 29th, then long for the window dressing rally, ideally we top on or right after the Labour Day
on 1-3min it's a clear bear flagging, next pump will get me short with a stop above the highs
On the road all day, quick chart update from my phone.
Im flat at the moment, will short one more if it back to 13009-13, tight stop.
We didn’t get a follow through at night, but we did make a new low, I covered 50% there and the rest was stopped at night.
Now watching for lower low or double bottom. Above can be a sign of the temp low in place
The Nasdaq index (the average of American technology companies), which has recently had a movement correlation with Bitcoin and the crypto market, has weakened after breaking its static and dynamic resistance, and due to the fact that it seems to have broken the resistance, it has made a pullback, but the intensity of this pullback was high. and increases the...
If this really goes, then 12700 will be a quick stop and it can fell very much all the way to 12200-60
There is an interesting trend line cross support at 12200 level, something to watch and visible on my chart
Support numbers below
12700
12450-60
12200-60
Needs to open tomorrow above today's highs to make it turned up and see a high on the 25th instead of a...
Todays ATR continues to ignore (not confirm) a downward move in equities.
Additionally, todays index/'VIX' move is best described as a sideways shift of the daily range.
I want to point out this bear flag, both on the ES and the NQ, perfect fib alignment into 12703-20 zone.
Tomorrow is a panic cycle day, will it be a gap down and reversal or we just break down?
My timing for the low is still the 25th and possibly 29th
Will do ES update next
It seems everyone is bullish now and desperate for a move up.
There is a chance of seeing the whole move down to 12700-20 by tomorrow tomorrow am!
I will be shorting any bounce with a tight stop and going long at 12700-20 for a good size move up, maybe even to new highs.
The R/R is much better at 12700-20 then at this point.
Have a good night
NQ main target is 12700-20 as per my last update.
Its not as far any more isnt it
Notes from the last night update:
NQ:
- Tomorrow's important levels to hold at 13100 and especially 13065
- I'm looking for the NQ to hit 12700 zone by the 25-26th on Aug and then a last push to 13900 by Sep 2-6th to finish this move up. This is a bullish pattern I'm watching
-...
Im tracking the pathway of the NQ to hit 12700 zone by the 25-26th on Aug for a last ideal push to 13900 to finish this move up.
There is also a possibility of a lower high of 13400-13450, but I will update on what I see after we hit the ideal low
Tomorrow's important levels to hold at 13100 and especially 13065
Very important to hold this target zone, as I do expect the temp low to come tomorrow, small rally up and continue lower into 25-26th.
Then high on the 2nd, where the bulls will get trapped!
13120NQ must hold on hourly closing level
NQ1! - What's next?
It's time to for PB as I stated at start of the week, imo it seemed over extended and I looking a LT positioning with NQ & ES at this moment of time 13250 for NQ is the next support areas. However, if we break above 13 and half areas, I will be re-thinking the idea of execution. We have DXY heading higher, and perhaps re-test highs on DXY....
Im looking for a good size gap down tomorrow to mark the top, otherwise we can still press higher .
The low should come either on the 22 or 26th. I personally like second date as it would be a perfect long setup going into the long weekend bull trap.
Ideally next high (if we topped) is a lower high. Also will be looking at turning week, if we close lower then...
