Equal Weighed Nasdaq 100 Pulls Out the Pressure !!We’re observing that the Equal-Weighted Nasdaq 100 ( NASDAQ:QQQE ) is currently showing its lowest Bollinger Band Width (20-day timeframe) since late 2017.
What does this mean?
It indicates that breadth within the Nasdaq 100 is tightening, suggesting a period of change in volatility. Historically, such compressions are often followed by strong directional moves—in other words, an expansion is likely on the horizon.
Adding to this setup, the Fed just eased interest rates, increasing the probability that the next move will be to the upside, much like similar scenarios we saw back in 2017.
These factors reinforce our bullish outlook on both Nasdaq and Crypto.
Trade ideas
$NDX getting very close to support levels, close to real bounceMakes sense for NASDAQ:NDX to get a bounce here as it is at the 1st Support level after the December breakout & it is Oversold.
NASDAQ:QQQE = Equal Weight #NASDAQ100
Never broke its ATH & it is Oversold on the daily chart.
Weekly charts put it in the middle of the range.
RSI needs to stay here to remain bullish.
$ Flow has slowly waned.
Friday is Triple WitchingThis Friday 9/15/23 is the quarterly event known as triple witching. The simultaneous expiration of three different types of derivative contracts happen. Triple witching is when the expiration of stock options, stock index futures, and stock index options all fall on the same day. This results in higher than average volume and volatility. Institutional investors trade contracts worth trillions of dollars. The witching hour 3-4pm, before the closing bell, sees the most trading activity.
Here's a QQQE 1 day chart (24hr ext) with 3 indicators.
TTCATR SMA20:
resistance = 80
SMA20 = 77
support = 74
Fib MA7 anchored VWAP:
VWAP1yr = 73
Fib TSI 5, 10, 20, 50, 100, 200:
5/10 = 52
10/20 = 40
20/50 = 23
50/100 = 72
100/200 = 99
QQQE options data:
9/15 expiry
Put/Call Open Interest Ratio 2.63
10/20 expiry
Put/Call Open Interest Ratio 1.54
12/15 expiry
Put/Call Open Interest Ratio 8.89
Equal Weighted Nasdaq 100 Prepped to catch up with the Big CapsSo far it has been the big caps like Google, MSFT, AAPL, and NVDA that has carried the NASDAQ 100 up higher, but now we can see that the Equal Weighted NASDAQ 100 is getting ready to break through resistance after making a series of higher lows and it is likely going to target at least an 88.6% Fibonacci retrace. At this time, we may see the NASDAQ 100 itself trading at all-time highs.







