Thanksgiving is a distinctly American holiday, where our nation takes pause to reflect on all the things we have to be thankful for due to the actions of a courageous band of dedicated men and women who crossed a dangerous ocean to an unknown continent for the simple hope... of freedom. As traders, I am glad that we all, regardless of our national origin, our...
This analysis is the winter version of the NASDAQ in December. It is only technical trend analysis regardless of any news or information. If the NASDAQ rises in the current pattern, there is a high probability that it will drop significantly once. This is because it is an incomplete rising pattern. Anyway, gaining monthly support and then rising is going to be a...
Eventually, just not in the short-term. NQ at the daily view.
The rotation from growth to cyclical stocks ramped up for the past month. Financials, energy, and industrial were among the most shorted sectors since April. When that rotation happened, those piled up shorts blew up all at once. The NQ did not rise as much (except for Tesla) because tech still had...
Contract - CME_MINI:NQZ2020
- High - 12128.25
- Low - 12093.00
Current Stats
- Gap: = N/A
- Session Open ATR: 247.27
- Volume: 35k
- Trend Grade: Neutral
Key Levels (Rounded - Think of these as a range)
- Long: 12440
- Short: 10665
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting....
NQ at the daily.
As suspected, NQ will be lagging since the rotation from growth to cyclical stocks continue. How long will this take? Longer than people expect. Will NQ breakout? Eventually. Market breadth has to increase even more and that will drag the NQ higher.
Until then, I am expecting some sort of decent pullback for the indices. Most likely not this...
Contract - CME_MINI:NQZ2020
- High - 11968.00
- Low - 11913.25
Current Stats
- Gap: = N/A
- Session Open ATR: 248.59
- Volume: 22k (Extremely light for a Sunday night)
- Trend Grade: Neutral
Key Levels (Rounded - Think of these as a range)
- Long: 12440
- Short: 10665
Keep in mind this is not speculation or a prediction. Only a report of the Power Range...
It's possible nasdaq could double from here in 7 months in an insane blowoff top. Yellen + Powell + Stimulus. This is what happened in the last stage of the 2000 dot-com bubble. Then it dropped by around 80%.
Nearly every year, and especially in election years, there is a seasonal rotation back into big box tech stocks in anticipation of the long weekend and Thanksgiving. I attribute a lot of this buying to the Black Friday spree where Americans dive into big deals online and in department stores.
Nasdaq futures are shown above and the consolidation above the 21 Day...
NQ tends to bounce off of oversold condition. Looks like a whipsaw holiday week.
I did predict a sector rotation from tech to small caps last week, and here we are...
![NQ1!: NQ [NASDAQ 100] | Potential Short Opportunity](https://s3.tradingview.com/t/TYo2IFdr_mid.png "NQ [NASDAQ 100] | Potential Short Opportunity")
