I believe it will play out like this timing may be off a bit but I believe these targets are the likely scenario as we are in a super wave 4 down that needs to correct the super wave 3 which was created decades long highs
Trend: Bearish
Trend line: 2 Lower highs have touched the trend line
Bearish candles: Sellers can be seen as there are more red candles then green
Short on strength or short if it continues to go down from any point (11530)
Stop loss: Last lower high: 11830
EP: 11530
TP1: 11230
TP2: 10930
If history repeats itself...
1. Upcoming +50% 3month rally more or less
2. Recession is officially here and -20% from previous lows
3. Rally again hard to >+100%
4. Double bottom
5. New bull market begins
Look First / Then Leap
US composite index shows that short term strong economy and inflation would moist the market.
It means short term buying opportunity is ahead right now.
Tech stocks rally may start soon.
My target is 12900and let's forget about the FED for now.
sometimes brave investment gives us a good profit.
as you can see from the time we said about US100-US30 ging to the target mentioned in the previous chart this will follow the same pattern head and shoulder full fill all the ( broke the neckline - high volume- )
but without acceleration in uptrend moves (it's a tricky way to make the traders stop entering the market 😉)
it is just the opinion of the writer
After three weeks of volatile retracement, IXIC has successively fallen below MA250, MA30, MA20, as well as MA10 and MA5, and is currently near MA60. From a chart perspective, it currently has a top M-shape, which is often accompanied by a downtrend. However, considering that MA60 has certain support, the index is currently close to the half-year line (around...
Price likes to move in AB=CD price structures where there is a time and price element in the pattern. The AB is equal to CD on a time and price basis the CD leg being a 100 level expansion of the AB leg. This particular price structure here on the NASDAQ has two possible AB=CD patterns in play. The blue ab=cd is what I call a hidden time window because it is...
IXIC (NASDAQ)- I predict NASDAQ will continue to be bullish until mid-July 2023. A correction build up with be sustain for around least 3 month before it starts climbing up late September and reach the highest target this year.
History is Bullish on Nasdaq:
The Nasdaq-100 index is home to 100 of the largest technology companies listed on the Nasdaq stock exchange. It had a miserable year in 2022, declining by 33% as investors trimmed their bets on the high-growth tech sector.
But based on the annual returns of the Nasdaq-100 dating back to 1986, consecutive down years are incredibly...
Nasdaq (IXIC) is currently painting a red TD count 12 con monthly timeframe.
It happened only once, back in july 1984 and marked a reversal.
That's almost 40 years ago.
Moreover it's still close to FIB 0.618 of a 2 decade long uptrend dating back to 2002.
We have a falling wedge, a bullish divergence on RSI (Dec '18, March '20).
A bounce from this general area...
I'm not going to call if the bottom is in or "not so fast" but just want to point out that we may only be halfway through a significant long-term downturn. It's concerning to me that RSI has broken significantly below 50 for the first time since the market recovered from the lows in early 2009. It's also concerning that price looks like it wants to retest the...
No change, deflation and declining commodities coupled with Rate Increases and Hawkish Policy makes for rocky roads ahead. Growth slowing, profits slowing, layoffs ongoing, trend continuing, we are near the higher bound of. daily range based on price and volatility and the chart aligns. Nuff Said.
IXIC facing resistance. It tried to break through but got a pushback. Will this be a false breakout or just consolidation before going higher? Looks like we will get answer after the Fed meeting.
I usually do QQQ charts which only follows 100 non Financials .
This Nasdaq composite charts cover 3700 . Also this is the ticker you see when you watch CNBC!
11,500 has been resistance since last Sept and has been an area of strong price action dating back to fall of 2020.
Also now in this area is QQQ Daily 200sma which Nasdaq has traded under for most of...
Looking at the H4 chart, my overall bias for IXIC is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 10753.57, where the 38.2% Fibonacci line is. Stop loss will be at 10207.47, where the recent swing low is. Take profit will be at 11521.97, where the 50% Fibonacci line is.
Please...
