Start of a CONSOLIDATION or an UP-MOVE ? ??
NQ at potential support. Looks like NDX will open lower Thursday . . . and it was somewhat expected that futures would gravitate lower considering VXN closed in no-mans-land today. . . anticipating a tap of VXN at the 36 level resistance and then NDX to the upside. PCC is within normal levels indicating to me that there is little panic and/or bearish sentiment...
Retesting the 200MA on the daily would mean another 600+ points down on NQ. Could it happen? We shall see!
The tech sector selling is getting strong. Three bearish death cross and prices has potentially break below the neckline support of the rounding top.
i think we will make new all time high before a major correction, i think if this formation plays out but needs to get above first resistance
Looks to me like the algos are turned off so I don't think it matters that futures are oversold until they go oversold on the daily. Overlay from a previous drop shows a bear flag here, so pretty good chance the market gaps up tomorrow. Probably a bull trap though.
This was published on 2/15, next target 12400 has to hold. Next move is up to Blue line on 2nd chart.
The market behaviour of NQ is creating an equivalency to the 2020 decline divided by a factor of 1.32. If this is indeed the case then we should have topped today and are heading to 11k.
dont fear to buy in deep and hold it 10-20 day we advice dont sell,stand on buy side only 100% put buylimit on 12500 and 11600 if your buylimit open,dont close it with little profit like new trader ,wait until above high,15000
US10Y is still sitting at resistance. Stocks may be hesitant to pump further here and may even dump again. I don't think we're about of the woods yet. Just my opinion.
Markets are not melting yet. This is a healthy pullback. Target at just below 12600.
I see 2 possibilities in the near term here....
But economy doesn't yet support the move.
Looks like the neck is about to snap on the Nasdaq, should trade even lower this month.
Sideways auction appears to be breaking critical support, with moving averages cross and convincing break of weekly pivot point (cyan). Weekly pivot point is the bear/bull line on the week. I can see it trading to the Weekly S1. Pivot points act as magnets, as algo's are actively trading at them.On the flip side of this, is S2 is strong support, and this can...
Title says all. Just my opinion.