Really straightforward close of the week in tech…
From current levels I see another 10-15% downside possibility in Nasdaq, where strong bullish support would probably step in seriously.
From macro point of view I agree with those specialists who say that J. Powell was pretty straightforward in his views on battling the inflation, which is the number one problem...
Reason to enter sell
1. desc trendline
2. daily supply zone
3. weekly resistance
4. confluence trendline, resistance & supply zone
max target with fib expansion
SQQQ is having bull readings from qqe and sss signals strategies. holding 52.62 and breaking 53.78 would open the road to high 54s if signal remains green in the bear nasdaq etf.
SQQQ TRAMA and VWMA have turned up, and are following the price higher. stiff resistance in the nasdaq along the downtrend line has proved a supply area in the index is sapping momentum out of the bounce. the last time this happened we had a return to the bear market, and SQQQ saw gains of around 8%. id like to see SQQQ RSI get overbought before i count it out,...
Simplicity is king.
1) Rising wedge 2019 - 2022 - Jan 2022 breakout down.
2) Nasdaq is falling from a crazy over-priced high, big potential downside.
3) Descending trend-line of lower highs since breakout confirm down-trend.
4) Current trading range of the down-trend is 14,600 - 12,800
5) Break below 12,800 - 11,900 to 10,700 will very likely follow.
6)...
From previous posts i expected a spike to 14500, 14400 was hit instead before pukking lower. Shorting all spikes have worked great. Still expecting the 12.000 level. I will keep shorting the spikes.
Inflation expectation (green line) is exploding and no signs of mean reverting for now. Put/call ratio on the rise which indicates a more bearish sentiment. High gas...
As we can see, NQ was following the "plan" exceptionally nice.
To me that's a proof how the concept of Allen Andrews works. But there is much more in it than just painting nice Pitchforks.
The REAL benefit a trader can gain is the study of swings. When I started study the swings, it was a crazy new world for me.
So if you are interested real and profound...
Hi traders
Vix gartley \ bat advenced formation.
If it gets to 28 - 28.6 area i will look for short.
While it climes up there the us market will go RED.
Lets watch
Drive safe
This week I will open position at around 9210, assuming a small retrace.
Will close 1/3 of position at target A. Will then move SL down and see if we get lucky and close another 1/3 at target B. Again move SL and see if we get really lucky and close remaining 1/3 as close to target C.
Target A is the expectation
Target B is the hope
Target C is the dream
Of...
Most of the Tech stocks are over bought right now and based on the chart Nasdaq has bounced from the top of the channel and possible to go down.
There is also a chance that after 'US Continuing/Initial Jobless Claims' today we may see a bullish sign (due to total unemployment decline as many countries go to work) it will break the channel and go higher.
Please...
Monthly Chart :
The price broke down the MUT (Major Upper Trendline) what lasted for 10 YEARS :
Moreover, The Price found Resistance on that MUT, and on the old Resistance Area between 186-192.
Note the Weekly Chat :
When you move into Daily Resolution , we can see clearly how the Buyers Failed to hold the Price above the MUT , and therefore,...
