As the rally continues in US markets it is hard to not take notice of the curvature on the larger high time frame trend. It is losing momentum and comming into what should be a pivital area.
While there is no way to know how buyers and sellers will respond the loss of momentum signals that what is driving price is slowing and eventually may run out of...
Nasdaq (NQ1): CME_MINI:NQ1!
Examining the Nasdaq on the daily chart, it appears we may have indeed reached the final level of the potential primary scenario Wave 3 at the 461.8% extension, which is around $18,400. Now, we should be entering a Wave 4. If we continue to rise beyond this point, we might consider an alternative scenario where there is a bit more...
Markets closed the week with a dip as record highs gave way to profit-taking. Chip stocks, including Nvidia, faced reversals, impacting the S&P 500 and Nasdaq. Despite a strong job growth report, rising unemployment and slowed wage growth tempered the market's enthusiasm. NVDA closed 10.14% off it's ATH and Costco's 7.6% drop signaled cautious consumer spending....
I wouldn't touch NQ and ES till it shows a clear direction to either was. NQ is clearly losing strength. ES is clearly stronger, but how long can it go without taking out some sell-side?
Pretty suspicious if you ask me. I feel like something is cooking. Yes, ofc price can go further higher. But we are stacking up lows after lows. And we all know when Price is...
the levels below price are based on where C would be in an ABC Correction, The first blue zone above is a forecasting of a possible B. The Green Zones are possible areas for the end of the third wave on the higher time frame or a fifth wave on the lower time frame.
(I am new to Elliott Wave Forecasting and I will be posting these often, mainly for my own study)
CME_MINI:NQ1!
Yo Family, let's stay focused on this Long move to the upside...Tomorrow is CPI so manage your portfolio accordingly...
1) Price is currently trading around a 4Hr S&R Level ($18295.00)
***Now I want to see Bulls come in and break that level and close above and push towards the 4Hr Swing EQ level...
2) If and when price can break and close above...
1. SSL
2. FSH
3. SSL
5. 30min bearish
6. News
DXY is pushing up, CNBS Tesla is only red and then there is also news its possible sell first then buy. As of right now I am watching to see what price does before entry.
