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.
This is the NASDAQ trend update. It seems to be the last rising wave. Be careful with small retracements at short-term highs.
Contract - CME_MINI:NQZ2020 - High - 12093.00 - Low - 12047.00 Current Stats - Gap: = +0.16% - Session Open ATR: 288.87 - Volume: 22k - 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...