Like the 175 area for a short term bounce. Coming into lower trendline support and the Mar 5th pivot low.
The market just wrapped up a volatile week. The NQ and ES both traded down to there respective 21 ema where they found support then surged higher after the FOMC held rates at 5.5%, payroll data exceeded expectations & META/AMZN delivered. The market continues to bet on the goldilocks scenario of flat to lower rates, a strengthening economy during a US election...
Market pushed higher again last week. The NQ made a new ATH daily close on Wed & the ES pushed through the Mar 29th high. Momentum stalled at the end of the week as traders trimmed longs on weak guidance from INTC and positioned for a big week of data & earnings ahead. This week Megacaps (GOOGL, META, MSFT, AMZN)are schuduled to report, the FOMC will make its...
Market pushed higher again last week. The NQ made a new ATH daily close on Wed & the ES pushed through the Mar 29th high. Momentum stalled at the end of the week as traders trimmed longs on weak guidance from INTC and positioned for a big week of data & earnings ahead. This week Megacaps (GOOGL, META, MSFT, AMZN) are schuduled to report, the FOMC wil make its...
The NQ & ES successfully retested their respective 21 emas and had very strong bullish continuation on Thur & Fri breaking key resistance. NQ closed above the Dec 28th high and the ES finished the week above the Mar 29th high. ATH is in play for both this week. The NDX and SPX have already made new ATH's and have room to their 1.13 Fib extensions. Odds of a blow...
The NQ & ES successfully retested their respective 21 emas and had very strong bullish continuation on Thur & Fri breaking key resistance. NQ closed above the Dec 28th high and ES finished the week above the Mar 29th high. ATH is in play for both this week. The NDX and SPX have already made new ATH's and have room to their 1.13 Fib extensions. Odds of a blow off...
The market pulled back to support on the first trading week of the year but recoved almost all the losses last week with a strong bounce off breakout support. NQ will start the week at Jul 12th pivot resistance while the ES will start the week at Mar 29th pivot resisance. If prices can reclaim and hold these key levels a test of the ATHs is likely. Look for...
Here are my levels for next week. There will no updates as I will be on vacation. Sitting on support right now, but if we see further downside look to the Sept 1st high for first support or downside target. Not impossible to see price pull back to the 200 sma on a deep draw down.
Just a quick post with my levels for next week. I will be away on vacay so no updates. Sitting on support right now. If we see further downside look to the 55 ema for next support and downside target. Not out of the realm of possible to see a deep draw down into the 200 sma.
The 9 week rally continued into the holiday week. NQ and ES both finished the week green despite a mild sell off on Thur & Fri back to their respective 9 EMAs. NQ started the new year above the Jan 12th high 4% off the ATH. ES started the new year at the 1.13 Fib X & above the July 27th high just 4.2% off the ATH. Market is overbought but the ATH remains a strong...
The week rally continued into the holiday week. NQ and ES both finished the week green dispite a mild sell off on Thur & Fri back to their respective 9 EMAs. NQ started the new year above the Jan 12th high 4% off the ATH. ESstarted the new year at the 1.13 Fib X & above the July 27th high just 4.2% off the ATH. Market is overbought but the ATH remains a strong...
The market broke out of its three-week consolidation above the July high following dovish comments from Powell and the possibility of three rate cuts next year. The ES and NQ are now only 5% off all-time highs and have recovered almost all their losses from 2022. The rally has broadened as small and mid-caps played catch-up into the end of the year, posting strong...
The market broke out of its three-week consolidation above the July high following dovish comments from Powell and the possibility of three rate cuts next year. The ES and NQ are now only 5% off all-time highs and have recovered almost all their losses from 2022. The rally has broadened as small and mid-caps played catch-up into the end of the year, posting...
Market tested support last week and the recovered to close the week flat. NQ successfully retested the 21 ema and ES pulled back and recovered from the 9 ema. Market held to top of the range just below the July high setting up for a break in either direction going into this week's CPI data and FOMC rate decision. SUMMARY ES finished the week with a gain of...
Market tested support last week and the recovered to close the week flat. NQ successfully retested the 21 ema and ES pulled back and recovered from the 9 ema. Market held to top of the range just below the July high setting up for a break in either direction going into this week's CPI data and FOMC rate decision. SUMMARY NQ finished the week with a gain of...
The market traded at key resistance for the 2nd week in a row just below the July highs. Price has been holding the highs but feels very extended and is due for at least a mild pull back. That said price often needs and exhaustive push higher before reversing so a spike move into the July high first is not out of the question. Its notable that DOW, Russel & S&P...
The market traded at key resistance for the 2nd week in a row just below the July highs. Price has been holding the highs but feels very extended and is due for at least a mild pull back. That said price often needs and exhaustive push higher before reversing so a spike move into the July high first is not out of the question. It's notable that DOW, Russel & S&P...
The $NQ_F traded around key resistance during the Thanksgiving shortened week. NQ is locked near the Mid-time frame 886 Fib just below the July 19th high. Market has gained 10% + after making a V-bottom on Oct 26/27th. Makes sense for price to trade sideways to down for a bit. Santa rally effect still in play going into the new year but tax loss selling season is...