Interesting week ahead
I could honestly see us making new ATH again and closing the gap at 482 all in the same week.
Price closed friday near support of ascending triangle.
Support trendline is at 487.00 -
Resistance is at 488.70
Thats 1.70$ , which means some really choppy price action , which also means if you arent swinging , u should linger too long in either direction..
The break out of this pattern wouldnt push spy much higher, maybe 1% or 495.00
I've also seen the Ascending triangle turn into distribution tops. For this scenario to happen, id like to see a break of 487.00 to 485.00 . Once we break 485 , I'm very confident of a 482 gap close.
I wouldnt count on any drop below 480 seriously... Why? Look at your 21ema, its now approaching 480. We would have to close beneath that to become bearish ..
Here's IXIC or Nasdaq composite
Im going to start this in reverse from 1hour time frame into daily
1hour chart
Possible bullflag setup here or descending triangle.
If its a bullflag then we are headed here, 3% higher from fridays close or 435 QQQ
If its a descending triangle
Then we head here, ehich is basically 420 on QQQ
But what if its both 🙄
And this is why i said we could have some big swings this week
IXIC weekly chart
Whats crazy is, the Nasdaq composite is still 5% lower than its ATH while QQQ/NDX is
5% higher tha. 2021 ATH.. what does this mean? With the exception 15 tech names , anything under 300billion market cap has been getting neglected and shun, cathie woods could tell you all about it.
I'll update NYSE and IWM later
Also , look at Meta and Msft on your 2hour chart ,Add your RSI, now do you see the Bearish divergence that has built up last 3 weeks? There will be blood come February
I could honestly see us making new ATH again and closing the gap at 482 all in the same week.
Price closed friday near support of ascending triangle.
Support trendline is at 487.00 -
Resistance is at 488.70
Thats 1.70$ , which means some really choppy price action , which also means if you arent swinging , u should linger too long in either direction..
The break out of this pattern wouldnt push spy much higher, maybe 1% or 495.00
I've also seen the Ascending triangle turn into distribution tops. For this scenario to happen, id like to see a break of 487.00 to 485.00 . Once we break 485 , I'm very confident of a 482 gap close.
I wouldnt count on any drop below 480 seriously... Why? Look at your 21ema, its now approaching 480. We would have to close beneath that to become bearish ..
Here's IXIC or Nasdaq composite
Im going to start this in reverse from 1hour time frame into daily
1hour chart
If its a bullflag then we are headed here, 3% higher from fridays close or 435 QQQ
If its a descending triangle
Then we head here, ehich is basically 420 on QQQ
But what if its both 🙄
IXIC weekly chart
5% higher tha. 2021 ATH.. what does this mean? With the exception 15 tech names , anything under 300billion market cap has been getting neglected and shun, cathie woods could tell you all about it.
I'll update NYSE and IWM later
Also , look at Meta and Msft on your 2hour chart ,Add your RSI, now do you see the Bearish divergence that has built up last 3 weeks? There will be blood come February
Comment:
SMH
(Semi and chips)
Weekly candle ended bearish grave stone dojj.
Cup and handle 22% move completed also.
Look for a correction in chips in the next couple of weeks
SMH
(Semi and chips) Weekly candle ended bearish grave stone dojj.
Cup and handle 22% move completed also.
Look for a correction in chips in the next couple of weeks
Comment:
Es bounced of trendline support..
Long as it holds, they buy it up
Long as it holds, they buy it up
Comment:
Might be a choppy monday but i wouldnt look for shorts today , especially on QQQ.. they most likely ramp this up hard starting tomorrow
Nq 1hour chart now at resistance, but it looks prime
If you're crappy with your entries, just wait for qqq to break over 426.50 to long...
Won't be trading today, catch you'll tomorrow
Nq 1hour chart now at resistance, but it looks prime
If you're crappy with your entries, just wait for qqq to break over 426.50 to long...
Won't be trading today, catch you'll tomorrow
Comment:
Indexes are doing as expected... pretty much text book in terms of big tech earnings week.. No volume was there across the market , but i think tomorrow we melt higher
Spy 493-494
Qqq 430-432
Iwm broke out and is possibly headed back to 205 via H&S.
Spy 493-494
Qqq 430-432
Iwm broke out and is possibly headed back to 205 via H&S.
Comment:
Bullflag playing out on the Nasdaq/IXIC..
1hour chart.
Looking for another 100-130pt pop tomorrow then a reject and flush
1hour chart.
Looking for another 100-130pt pop tomorrow then a reject and flush
Comment:
489 spy
426.00 QQQ
Were tough resistance on the indexes, now those resistances will flip as support.
Those supports hold and the melt continues
426.00 QQQ
Were tough resistance on the indexes, now those resistances will flip as support.
Those supports hold and the melt continues
Comment:
Comment:
Iwm retesting pennant and 197 support.
Bounce here and 200 next up..
197 needs to hold though
Bounce here and 200 next up..
197 needs to hold though
Comment:
NQ
30 min chart..
17600 support
If support is loss 17,500 next stop.
Possible cup and handle forming here.. 17,900 would be the target of this pattern
17600 support
If support is loss 17,500 next stop.
Possible cup and handle forming here.. 17,900 would be the target of this pattern
Comment:
Ill be back on EOD
Comment:
Qqq 15min charr.. 426 was broken , the flushed stopped on trendline support..
Possible pennant going into earnings.
If trendline support is broken we head to 420... if this is a pennant then we head to 430+
Possible pennant going into earnings.
If trendline support is broken we head to 420... if this is a pennant then we head to 430+
Comment:
Qqq drop to 420 in after hours... needs to hold 420 or we double to 407...
Was looking for the correction to kick off Thursday but its started today..
Weekly candles last week on the sectors foretold this drop...
Was looking for the correction to kick off Thursday but its started today..
Weekly candles last week on the sectors foretold this drop...
Comment:
Individual stocks aside, im looking for 420 to hold on
QQQ
atleast until fomc... upside targets are
424
426
QQQ
atleast until fomc... upside targets are 424
426
Comment:
Also 422.50
Comment:
Qqq trying to bounce... googl near support
Amzn not breaking 155 support.
The main drag is aapl
. Obvious they are going for the 182.50 gap close .. You'll need more big names to bounce to counter that drag
Amzn not breaking 155 support.
The main drag is aapl
. Obvious they are going for the 182.50 gap close .. You'll need more big names to bounce to counter that drag
Comment:
487.00 next support on spy..
Breaks that and 485 incoming
Breaks that and 485 incoming
Comment:
Ixic/Nasdaq bouncing off support here for the nasdaq.
15min chart and RSI
15min chart and RSI
Comment:
NQ 1hour..
Possible falling wedge pattern. Here..
Its a double top but sometime that right leg on double tops or H&S can wedge..
Upside targets are 17,460 /QQQ 422.50
17,600 /Qqq 426.00
Possible falling wedge pattern. Here..
Its a double top but sometime that right leg on double tops or H&S can wedge..
Upside targets are 17,460 /QQQ 422.50
17,600 /Qqq 426.00
Comment:
Qqq Rejected at 422..
Most likely spy heads 480 or 21ema tomorrow or by friday...
Look for more selling
Most likely spy heads 480 or 21ema tomorrow or by friday...
Look for more selling
Comment:
QQQ
chart
Closed on trendline support..
420 is resistance, above that 421.70- 422.50..
I dont think QQQ clears 422.50 at all! Based on yesterday's volume i would expect some selling at some point today.
1st tgt - 415.50/ 21ema
QQQ
chart Closed on trendline support..
420 is resistance, above that 421.70- 422.50..
I dont think QQQ clears 422.50 at all! Based on yesterday's volume i would expect some selling at some point today.
1st tgt - 415.50/ 21ema
Comment:
DIA
or dow jones..
Nasty bearish engulfing with volume. Looking for a test of its 21ema or 377.80 very soon. Heavy price action there so it may not break 377 on first touch
DIA
or dow jones.. Nasty bearish engulfing with volume. Looking for a test of its 21ema or 377.80 very soon. Heavy price action there so it may not break 377 on first touch
Comment:
Besides the tech with earnings.. banks had some of the worst volume yesterday.. if the dow drops it will be on their dime
Comment:
15min chart
NQ
Chopping up inside megaphone here
Bearish divergence on the rsi so we could flush to megaphone bottom
Chopping up inside megaphone here
Bearish divergence on the rsi so we could flush to megaphone bottom
Comment:
Yesterday i posted
QQQ
30min RSI reached support.. since Yesterday it rallied off that support and is now back at resistance where it has flushed last 3X. If it breaks this resistance tomorrow (423) then we head back to 426-429..
QQQ
30min RSI reached support.. since Yesterday it rallied off that support and is now back at resistance where it has flushed last 3X. If it breaks this resistance tomorrow (423) then we head back to 426-429..
Comment:
I guess we'll go for the weekly hangman on the indexes and big names
Comment:
Nasty work..
Nq 1hour chart.
Rejected here at resistance..
Could be a pullback to ramp things up or just a big dump. 17,450/ 422.50 (QQQ) is the line in the sand..
Michigan inflation report 30min after open.
Short below 422
Long over 426.50
Nq 1hour chart.
Rejected here at resistance..
Could be a pullback to ramp things up or just a big dump. 17,450/ 422.50 (QQQ) is the line in the sand..
Michigan inflation report 30min after open.
Short below 422
Long over 426.50
Comment:
Qqq
Broadening wedge here, over 427 and it breaks out...
Broadening wedge here, over 427 and it breaks out...
Comment:
Qqq
Not impressed with the moves..
Qqq will finish with a hangman candle on the weekly right after having a gravestone last week.
Top may be in today
Not impressed with the moves..
Qqq will finish with a hangman candle on the weekly right after having a gravestone last week.
Top may be in today
Comment:
SPX
Daily chart with line instead of candles... i think the selling starts next week at some point.
Target is 4400- 4500
I wont be doing any new post or updates next week.. ill be back the following week.
Take care !
SPX
Daily chart with line instead of candles... i think the selling starts next week at some point. Target is 4400- 4500
I wont be doing any new post or updates next week.. ill be back the following week.
Take care !
Weekly bearish divergence here between candle and RSI ..
Should be tagging resistance Here again this week.
3rd times a charm?