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....
NQ formed a confirmed bearish divergence earlier. Needs to work it off to head higher - see my other idea
NQ needs a decision breakout above the resistance. It is being supported by Weekly Support as of now but needs to take out 12092
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.
+1 High time frame (1H ~) +1 minor Support Line +2 Inverted candle +2 Buying power check +2 Using the moving average Strategy Quality 8 / 10
I think this pops back up when ES gets oversold, which means more whipsaw. I might opt to take a week off here...
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...
I think this is just a bounce and it heads lower when it gets overbought. Keep an eye on this today. Probably a down day tomorrow since Thursday is usually the weakest day of the week for the market. If tech goes down, it'll drag on S&P as well.
Mostly BULLISH outlook as of this moment. We have calculated key levels for Take profit on Buy positions as well as opportunities for near-future sell positions. ps. Check our previous 'Possible correction inbound' idea and how well the levels were supported
could we see a strengthening? or continue down to support?
The NASDAQ will have a monthly correction after the last 5 waves. The stock market will be dark at the end of this year, but the first quarter of next year will see a new light. I expect the low of January to be the last buy opportunity.