I wouldn;t chase tech or hold it over the weekend... Maybe they do the whole "vaccine" tech selloff again Monday. That would be hilarious, 3 weeks in a row. Also, today is options expiration, so expect a whipsaw. All other indicators in the middle.
Contract - CME_MINI:NQZ2020 - High - 11961.25 - Low - 11923.50 Current Stats - Gap: = N/A - Session Open ATR: 263.59 - Volume: 33k - 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....
in all honesty- these are the only possibilities I see (in pictures below) ....thoughts?
As the Dow is on the rise, we expect the NASDAQ to rise as well. However, w-x-y correction must be completed to complete wave2.
Contract - CME_MINI:NQZ2020 - High - 11896.50 - Low - 11867.00 Current Stats - Gap: = N/A - Session Open ATR: 267.62 - Volume: 22k - 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....
My guess is a sector rotation from small caps to tech, either tomorrow or Friday. RTY is overbought.
All levels remain same, wave 3 target still at 11,000. If we are in a bullish count, then we would have an ABC retracement, with a target of 11,400. If we do begin to slip to the downside, these are the 2 levels to watch. Copyright Rohan Karunaratne 2020.
This is the NASDAQ downside scenario. A bearish pattern may be more appropriate than an upward move.
Contract - CME_MINI:NQZ2020 - High - 11986.50 - Low - 11962.00 Current Stats - Gap: = N/A - Session Open ATR: 275.11 - Volume: 21k - 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....
Nasdaq 100 Futures forming Bullish Flag, but careful; there is still no breakout.
Our updated chart on NASDAQ. Remember: we keep buying NASDAQ but selling other indices (preferably European) at the same time.
Looking for a bearish breakout towards lower channel line at 11200 or better.