4-hour micro-NQ futures contract
Bearish Deep Crab on the daily.
Bearish Crab on the hourly.
Rising Wedge on the hourly.
All fall on top of the 161.8% Fib ext.
Short between 13879 and 13700.
1st Profit Target @ 12462.8
2nd Profit Target @ 11779.4
The NQ is stuck. how many times can you hit new ATH price in 2 days? 5? 10? 20? I watched Sam Zell, Billionaire Investor on CNBC this morning saying what myself and a few others say in the room.
While Retail traders use their stimulus checks gambling in the market, like the cocaine monkey hitting the cocaine button and ignoring food and water till they drop...
I have a long trade on right now, so don't mistake me for what some call a "Bull". Being a Bull or a Bear is a 50% strategy, you will make money half the time in the long run. I trade futures, and on a typical Monday we go UP, so yes I hold longs.
I have a long term trade with the Maximum number of contracts my broker will allow, June contracts. On days like...
It's been a while since my last report. To recap:
In my last post of Dec 17th I pointed out that we were set to go down. We have, ( except for a short Christmas Rally, after Christmas ending in early January every year )
Today we are way up, and my stop isn't going to be taken out because I expect for us to continue down in the coming days/weeks. I got in a...
I have been folllowing what looks like a decelerating Nasdaq 100. I have been looking for a tell tale sign that we have topped. Yesterdays decline could be that trigger. We need to climb above the dashed purple line in order to regain the upward , yet still slowing trend. If we trade below the 12,500 line, its lights out for Nasdaq. And the Covid 19 economy.
The fluffy stocks or "balloon" stocks with little or no revenues have taking the money flow out of an already pressured "demand" from the market and the mega-caps such as AMZN FB FDX NFLX. It will take very little selling for us to get to 12400, likely before yr end.
I mentioned going short recently, and if nothing else I am a super early warning machine. I warned about the correction in February 2020, starting in December
as an example... Then the Rally up in March.
Right now we appear to be rolling over, we might not be seeing new all times several times a day from here on out for a while.
The lavender lines indicate the...
Positioning for retracement starting in early Jan then into Feb. Could happen sooner but the 6th sense is that some forces out there want to keep the market up UNTIL.
Momentum and divergence both point to a correction trajectory. Delayed capital gain selling and IPO gains will likely see additional selling pressure.
So, in my previous My Idea i suggested we might go down, anywhere from a 1.272, to a 1.28, to a 1.6 fib extension down, but what happens after that? I think we blast up from there to new all tim highs on the ( I think I picked a lavender target area line).
Note the two arrows, the red one down to target areas, then the green one UP to nw ATH.
@Chartmojo shares the ShawnZ Bollinger Band Indicator with us many times a day, ShawnZ didn't invent Bollinger Bands, but they really seem to work... When Price crosses the standard deviation plot lines and then comes back they carry
weight. Notice the 4 hour SELL signal, and last week was a "complex counter trend, corrective wave in Elliot". Wave 2 is a simple...