Top of the channel here overbought... looking for a pullback to minor support in the 1-2 weeks.. minor support would be this white trendline like so.
This would mean a pullback to 480 before pushing to 500. In this scenario, a rising wedge would play out and the big sell happens early or mid march.
The more aggressive scenario would be spy dropping to test its 50sma in the next 2weeks to form a Head, followed by another week or so to form the right shoulder like so.
Either way im looking for this target in the next 1½ week. 480
Heres the Nasdaq composite or IXIC.
Ive outlined the last ascending triangle that gave big tech the boost to shoot up.. Now another ascending triangle has formed but under different circumstances.
The circumstance is the Bearish divergence. When you have Bearish divergence while showing ascending triangle that can sometimes cause pattern failure especially if theres no volume to break out..
As you can see , price is now in a rock and a hard place , so i expect a move either way very soon.
Lastly
ES
Daily chart
Rising wedge in white + plus a smaller trendline holding up (Fawkery)..
The measured move of this drop should be 4% or atleast to 4750.. this would mean spy will test 50sma soon.
Got your messages
I'll update when i can
This would mean a pullback to 480 before pushing to 500. In this scenario, a rising wedge would play out and the big sell happens early or mid march.
The more aggressive scenario would be spy dropping to test its 50sma in the next 2weeks to form a Head, followed by another week or so to form the right shoulder like so.
Either way im looking for this target in the next 1½ week. 480
Heres the Nasdaq composite or IXIC.
Ive outlined the last ascending triangle that gave big tech the boost to shoot up.. Now another ascending triangle has formed but under different circumstances.
The circumstance is the Bearish divergence. When you have Bearish divergence while showing ascending triangle that can sometimes cause pattern failure especially if theres no volume to break out..
As you can see , price is now in a rock and a hard place , so i expect a move either way very soon.
Lastly
ES
Daily chart
Rising wedge in white + plus a smaller trendline holding up (Fawkery)..
The measured move of this drop should be 4% or atleast to 4750.. this would mean spy will test 50sma soon.
Got your messages
I'll update when i can
Comment:
Qqq 1hour chart...
Dump is coming By next week.. top of the wedge here, just grinding..
Dump is coming By next week.. top of the wedge here, just grinding..
Comment:
I'll be back in the saddle tomorrow morning.. busy week for me
Comment:
Opening up
First move
Spy 500
Qqq 435
Then flush
Spy 498
Qqq 433
Lastly melt back up to high of the day or higher on Vix crush friday.
Spy 30min
Weekly lowest volume since Thanksgiving.
First move
Spy 500
Qqq 435
Then flush
Spy 498
Qqq 433
Lastly melt back up to high of the day or higher on Vix crush friday.
Spy 30min
Weekly lowest volume since Thanksgiving.
Comment:
My strategy today is to wait for the dip then ride the melt up.. wait for the close to Open some march dated shorts.
Still leaning for the drop next week.
Still leaning for the drop next week.
Comment:
$Meta.. 30min chart
Fallen wedge gap up yesterday .. after that, consolidated into a bullflag.
Over 471 and 485 is my target.
Stop loss 469.00
Fallen wedge gap up yesterday .. after that, consolidated into a bullflag.
Over 471 and 485 is my target.
Stop loss 469.00
Comment:
Mix moves..range is too tight for all stocks to rally.. Lucky picks win
Got stopped out on the chop.. May sit the rest of today out ..
Got stopped out on the chop.. May sit the rest of today out ..
Comment:
Full bore tech pump here.. Banks and health slumping..
I dont think NQ breaks 18,000 today...
I dont think NQ breaks 18,000 today...
Comment:
Good morning...
Qqq 4hour chart
Would need to break 435.50 for a flush to 433.
If it does pull back ahead of CPI i dont think it will break below 433
As far as spy.. Well 500 is now support. Below that 498. I dont think they'll give up 498 ahead of cpi
Qqq 4hour chart
Would need to break 435.50 for a flush to 433.
If it does pull back ahead of CPI i dont think it will break below 433
As far as spy.. Well 500 is now support. Below that 498. I dont think they'll give up 498 ahead of cpi
Comment:
Tricky market ... Meta , tsla , nvda up
Msft , aapl , googl down...
Makes QQQ choppy..
Friday i bought 2/16 meta calls and got stopped why the entire market pumped ..
Now today, meta elected plunge protector
Msft , aapl , googl down...
Makes QQQ choppy..
Friday i bought 2/16 meta calls and got stopped why the entire market pumped ..
Now today, meta elected plunge protector
Comment:
Iwm at resistance here , over 202 and 205 incoming..
Only bearish below 198.. wouldnt short this
Only bearish below 198.. wouldnt short this
Comment:
Qqq 1hour chart
.427 .70 gap close aligns with trendline support.
If you havent opened short id wait for a break below 427..
Next target would be 425 then 422 gap below 425
.427 .70 gap close aligns with trendline support.
If you havent opened short id wait for a break below 427..
Next target would be 425 then 422 gap below 425
Comment:
Nq 4hour chart..
Sitting on support here... Needs to break below 17,600 for market to flush more. Bearish ascending wedge if we close below, 16,400 target
Sitting on support here... Needs to break below 17,600 for market to flush more. Bearish ascending wedge if we close below, 16,400 target
Comment:
426 qqq.. my old friend.
426-429 is the range.
Look to add short at 429 ish if it retest . Stop 431.50
Dji (Dow jones)
Forming A head.. next stop 38,000
Nasty flush below 37,800
426-429 is the range.
Look to add short at 429 ish if it retest . Stop 431.50
Dji (Dow jones)
Forming A head.. next stop 38,000
Nasty flush below 37,800
Comment:
Smh chip sector..
Needs to break below 196.00 for chips to drop more..
So far it just retested and bounce
Needs to break below 196.00 for chips to drop more..
So far it just retested and bounce
Comment:
Just an observation...
Dow sitting right above 20sma
Qqq 20sma is at 425
Iwm sitting on 50/20 sma
Vix sitting Right below 200sma
Look for indexes to close below and vix to close above MA for Continuation of selling
Dow sitting right above 20sma
Qqq 20sma is at 425
Iwm sitting on 50/20 sma
Vix sitting Right below 200sma
Look for indexes to close below and vix to close above MA for Continuation of selling
Comment:
Fawking chip sector = Michael Myers
Comment:
NQ
4hour chart..
Bounced off trendline and daily 20sma...
17,600 / 426
QQQ
needs to be broken for more sell
4hour chart..
Bounced off trendline and daily 20sma...
17,600 / 426
QQQ
needs to be broken for more sell
Comment:
Well QQQ tagged its 20sma and bounced at 425... looks like it will be closing on trendline support but stuck under 430.. For now..
Comment:
Well QQQ tagged its 20sma and bounced at 425... looks like it will be closing on trendline support but stuck under 430.. For now..
Tops in... looking for 416 on QQQ by 2/23..
But first we need to lose 425/20ma
Tops in... looking for 416 on QQQ by 2/23..
But first we need to lose 425/20ma
Comment:
Nasty volume on Iwm.. Closed on trendline support but beneath 50/20 MA.
Most selling pressure since Jan 2022.
Most selling pressure since Jan 2022.
Comment:
Good morning...
Resistance levels
Es 5000 (497 Spy)
Nq 17,800 (432 QQQ)
Looking for pullback and short entries in that area .
Over 498 and 500 is retested
Over 433 and 435 is retested
Resistance levels
Es 5000 (497 Spy)
Nq 17,800 (432 QQQ)
Looking for pullback and short entries in that area .
Over 498 and 500 is retested
Over 433 and 435 is retested
Comment:
Dow jones daily chart.. zoomed out..
Looking for a pullback to support at 37,000. Once we break 38,000
Looking for a pullback to support at 37,000. Once we break 38,000
Comment:
SMH chip sector , double bottom of yesterdays drop and propping ip the Q's right now .. Gap closed at 204.. if this holds under to 204, look for chips to flush.
If this pops over 205 they'll pump chips more
15min chart
If this pops over 205 they'll pump chips more
15min chart
Comment:
Nice flush from 432... smells like distribution.
I'll be back on EOD
I'll be back on EOD
Comment:
Qqq 1hour... so this maybe a the right shoulder forming for a drop to 416 gap close. Which would explain the chopping all day. Pattern is live as long as qqq holds under 433-435.
Comment:
Here's IXIC or Nasdaq
Looking for a rejection here at 15,800 to 15,170 to complete the head
You can see the prior Gap is acting as resistance for the nasdaq.
Looking for a rejection here at 15,800 to 15,170 to complete the head
You can see the prior Gap is acting as resistance for the nasdaq.
Comment:
Morning...
435 is resistance for qqq and also gap close ..
432.50 is support or IXIC 15,800....
Nasdaq needs to drop back below 15,800 for this to flush or 435 gap incoming.
Real trash price action going on Premarket with individuals mixed
435 is resistance for qqq and also gap close ..
432.50 is support or IXIC 15,800....
Nasdaq needs to drop back below 15,800 for this to flush or 435 gap incoming.
Real trash price action going on Premarket with individuals mixed
Comment:
Im still leaning bearish but if
QQQ
pushes over 436 then Bullish scenario is 441 or top of the rising wedge again Before Fed minutes next week...
QQQ
pushes over 436 then Bullish scenario is 441 or top of the rising wedge again Before Fed minutes next week...
Comment:
Qqq
5min and 15min finished the day yesterday overbought bad entry for calls at the open. Looking for a pullback to test 432 minimum
5min and 15min finished the day yesterday overbought bad entry for calls at the open. Looking for a pullback to test 432 minimum
Comment:
NYSE/NYA
Weekly chart abouth 70pts away from ATH.. then we'll see where cylicals, Financials, and health do 🩸.
Qqq pulled back to 432 but the biggest drags on tech are bouncing on support
Googl (50sma)
Aapl (200sma)..
And you know chips wont stay red for long
Weekly chart abouth 70pts away from ATH.. then we'll see where cylicals, Financials, and health do 🩸.
Qqq pulled back to 432 but the biggest drags on tech are bouncing on support
Googl (50sma)
Aapl (200sma)..
And you know chips wont stay red for long
Comment:
I'll be back on later... easy scalp short this morning
Comment:
Comment:
NYA tagged ATH and pulled back..
IWM tagged 205 resistance and pulled back..
Qqq and spy in smaller rising wedge
And they did it all without
Aapl
Msft
Googl
Nvda
Looking for a flush and dump tomorrow .. If they push it, it will be a ponzi move from todays lackers (Big 7).
IWM tagged 205 resistance and pulled back..
Qqq and spy in smaller rising wedge
And they did it all without
Aapl
Msft
Googl
Nvda
Looking for a flush and dump tomorrow .. If they push it, it will be a ponzi move from todays lackers (Big 7).
Comment:
Ym ( dow jones futures)
Retested Wedge this morning and is now selling.
Not surprising with NYA closing at ATH.. IWM 205 resistance held also. Look for cylicals, small caps, and Financials to lead the sell today
.
Retested Wedge this morning and is now selling.
Not surprising with NYA closing at ATH.. IWM 205 resistance held also. Look for cylicals, small caps, and Financials to lead the sell today
Comment:
Michigan 5yr inflation out 30min after the open.. Real move and direction will be clear around 10:30 Est
Comment:
Yesterday i showed you Qqq and Spy rising wedges..
Vix sometimes inverses the Spy.
In this case the Vix is showing a Falling wedge here.. 200sma at 15.00.
It breaks over 15 and market flushes hard
Vix sometimes inverses the Spy.
In this case the Vix is showing a Falling wedge here.. 200sma at 15.00.
It breaks over 15 and market flushes hard
Comment:
Hot Cpi and PPi and yet the buyers remain Obdurate!
May have to switch up the strategy and scalp short... The long hold short is dead ..
Opinions to the side and this is what we have.
Qqq broke smaller wedge but bounced off trendline support again.. 433 resistance.. over that and they go for 435.50 resistance .
May have to switch up the strategy and scalp short... The long hold short is dead ..
Opinions to the side and this is what we have.
Qqq broke smaller wedge but bounced off trendline support again.. 433 resistance.. over that and they go for 435.50 resistance .
Comment:
Iwm
Bounced off previous resistance this morning.
Only bearish below 201.
Bounced off previous resistance this morning.
Only bearish below 201.
Comment:
Qqq retested smaller wedge and rejected.. No higher but no lower then 430..
Means we limbo
Means we limbo
Comment:
Spy 30min..
Same limbo...things only get bearish back below 498..
Same limbo...things only get bearish back below 498..
Comment:
I will do a new post later tonight..
Was very busy this weekend.
425 QQQ is the level to break and close below for more selling..
The rising wedge on QQQ and NQ has been broken and it looks like we will close below the 20/21 ema.
Was very busy this weekend.
425 QQQ is the level to break and close below for more selling..
The rising wedge on QQQ and NQ has been broken and it looks like we will close below the 20/21 ema.
1hour chart
Pushed back up to resistance . Resistance is slanted upwards so higher highs are available.. Same scenario as spy.. Major head forming.. look for a hard dump next week
Qqq 2 hour chart at resistance here.
Rising wedge.. target 407 gap close incoming
Spy 1hour chart
Resistance is higher so higher highs are still made on bearish divergence + low volume.. dump incoming..