Nasdaq is expected to rebound after falling once more. When it rebounds again, the low point will be monthly support, so if it is expected to rise by at least the end of January next year, it will make a peak, and after February or March, a big drop is expected.
NASDAQ decides the future of TECH stock movement.
Breaching 11968 will Invalidate H&S pattern and confirms UPTREND.
Falls below 11800 will obeys H&S pattern and drops rock solid 7% and confirms DOWNTREND!
Probably just a whipsaw day, but COVID stocks look weak and taking NQ (QQQ/$NDX) with it.
If it gets oversold today, they'll probably pop it up Monday on "increasing COVID numbers" or some crap. Interesting that MFI dropped this far with no drop aside from the weakness yesterday afternoon.
Technology in 2020.... Technocracy in the future.
These Tech-giants can rule the world and nothing seems to bother them. The future is all theirs.
We combine our 'BUY' positions on Nasdaq with ou 'SELL' positions on other indices
Contract - CME_MINI:NQZ2020
- High - 11868.00
- Low - 11846.25
Current Stats
- Gap: = N/A
- Session Open ATR: 304.52
- Volume: 29k
- Trend Grade: Neutral
Key Levels (Rounded - Think of these as a range)
- Long: 12440
- Short: 10950
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting....
NADAQ futures NQ - It is in similar kind of waves to ES from last top as ABC zigzag down. The 1st subwave of C down in progress. So sell it down on small corrective bounce with stop level above 11976.50 for target zone below 11350 or even lower.
Give thumbs up if you really like the trade idea.
Jan 2020 was 'overvalued' already in Jan 2020 lenses.
Sector rotation to cause dump due to the catch-up trade in value stocks. Will cause overreaction and overcorrection, which means it's a good opportunity to buy then.
Case for NQ to gain 0% in 2020. Good entry point.
Contract - CME_MINI:NQZ2020
- High - 11912.50
- Low - 11881.00
Current Stats
- Gap: = N/A
- Session Open ATR: 318.07
- Volume: 40k
- Trend Grade: Neutral
Key Levels (Rounded - Think of these as a range)
- Long: 12440
- Short: 10950
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting....
Pretty technical so far. False breakdown below $11.2k right before the election to tap the bottom of the triangle. Then ripped straight to the top of the triangle & finished the run with a blow off top/false breakout above the triangle which sent it back to support at $11.6k where it bounced. Probably has another 200 points left in this bounce to $12.1k if I had...
