Here is the weekend look at the NQ/QQQ going into the trading week of Feb 14-18. The NAS started the week below the red neutral and then made a bullish push prior to the CPI announcement right into the 200 sma. The data came in higher than expected and after an initial positive move price broke down falling 5% from the weekly high. Fears of war with Russia...
I do not post about BTC often, but if you scroll my posts you will find my levels have been effective. My last post noted that a break of the tan box would likely yield a move back down to the green box. Price did eventually break the tan box an move back down to the green zone. Since touching the green box BTC has bounced 9K. I am a long term holder but like...
Here is the weekend look at the NAS/QQQ going into the trading week of Feb 7-11th. Last week the NQ started out below the 9 ema and the 200 sma as well as below the red neutral box. Price rallied strongly the first half of the week back above the 200 SMA, but then gapped down almost 2% on the FB earning miss Wednesday then gapped back up on Friday after the AMZN...
Here is the weekend look at the ES/SPY for the trading week of Feb 7-11. The ES started out last week at the 200 sma and the bottom of the red neutral box. Price rallied hard for 3 days above the 200 and into the top of the neutral box where it ran into fib resistance. Price gapped down on Wednesday night after an earnings miss from FB. The following night price...
We will have to see how the week finishes but right now the weekly candles are screaming high volatility and indecision. Two week now and price is glued to the 14367 level. That level is proving to be key and must be watched.. My guess is that the market is waiting on the CPI data next week (Jan 10th) before picking a direction .
Here is the weekend look at the NAS/QQQ going into the trading week of Jan 31 - Feb 4. Last week was a wild one. I had suggested in last week's post that I expected increased volatility going into the Fed meeting and Mega cap earnings but the massive turn around move on Monday Jan 24th was one to remember. The NAS dropped a whopping 700 + points (5%) only to...
Here is the weekend look at the ES/SPY going into the trading week of Jan 31 - Feb 4. Fed week did not disappoint in terms of volatility. ES like the NQ made a massive round trip turn to open the week. Trading down 170 points (4%) only to reverse and close the day 13 pts in the green. The rest of the week price revisited the Oct low 3 more times and then wrapped...
Here is the zone I am watching for GOOGL after the massive gap up. Expecting a pull back into the green box. Prefer to take it long off the bottom of the gap. I have marked the 50% point of the gap as price can easily go there. Below the 50% a gap fill is possible. Need to see a solid lower time frame reversal pattern before entry.
Here is the weekend look at the ES/SPY going into Jan 24-28. Last week the ES started out above the upward trend line and above the neutral box. By Friday price had broken below the trend line and the bottom of the neutral box closing just above the 786 Fib, but below the 200 SMA. The ES has given up most of its relative strength and is threatening to...
Here a look the NAS/QQQ going into the week of Jan 24-28. Last week began above the key 14152 pivot and above the bottom of the neutral zone. The 14152 level was broken on Sunday night and by the close Tuesday price was below 14152 and the neutral zone. This move confirmed a double top on the daily chart and led to 3 successive down days finishing the week at...
Here is look at the percentage of S&P stocks above the 20 sma. Getting to an extreme reading so bounce potential increasing.
Looking at this green box as an area to play AAPL for a short term bounce. Not interested in anything long term, but feel this area is a spot to watch for a short term relief rally if it gets there. I will set an alert at the top of the box and update if something sets up.
Here is the weekend look for the NAS/QQQ going into the trading week of Jan 18 -21. Last week started at the low the month & half trading range. Price fell Sunday night below the key 15492 level and continued to flush lower Monday morning. Price made and intraday low of 15152 (bottom of neutral) and then reversed sharply retraced more that 400 points to close...
Here is the weekend look at the ES/SPY going into the trading week of Jan 18-21. Similar to the NAS last week the ES made a full round trip closing out the week where it began. Last Sunday the ES sold off and continued lower on Monday morning dipping all the way down to the top of the neutral (tan box) where it found support and then bounced sharply back up...
TNX is attempting to breakout from the 618 resistance and above the Mar 29th high. This is what has the market worried. The targets above would be 2.21 and 2.67 so the market is pricing in growth at these higher rates. It is still possible for the TNX to reject here and fall back down. I will be watching for the rejection as it would likely give a boost to...
Looking at the NAS/QQQs going into the week of Jan 10-14. Last week started out at the top of the broad sideways range and ended the week at the bottom. The range spans approximate from 15550 to 16650 and for the last 45 trading days price have moved from one side of the range to the other almost vertically. The sell off last week can be attributed to the Fed...
NVDA has come into the ascending trend line. I have draw a large box in a zone that I believe has a good chance for a short term reversal. Of note.. we have the 618 and a gap at the lower part of the box. Not keen of buying right away. Will watch for a lower time frame reversal pattern. I will try to update the chart if I see something setting up.
Looking at the ES/SPY going into the week of Jan 10-14. Last week the ES met resistance at the 1.13/1.27 fib extension zone. I watch this area closely because failed breakouts often happen in that zone. Above the 1.27 the odds of trend continuation increase. It is not uncommon for price to come back an retest a breakout zone, but in this case price fell back...