A very bullish bounce today in the indexes...you had to be quick to catch the move. We will watch the next couple of days to see if this is small bounce or a true reversal. Keep on your watch list and watch the outline levels.
The indexes got knocked down on Monday, however, the late day rally gives bulls a chance. The Nasdaq is sitting at support and we are short term over sold. We are watching yesterdays lows and overnight lows. If we hold the overnight lows then we will look for a trigger to get long for a one or two day bounce. REMEMBER: NO TRIGGER, NO TRADE!
Just Trading in between fine lines !! i.e. Between Support & Resistance !! And it has already stretched too much !! It's Time it breaks it's support like SPX500 has done !! So hold out till Nasdaq 100 aint breaking that support line !
On the log scale, there's a clear trend channel. However, the action that occurs within each quarter varies predictably-- after about 40 days into the quarter, any trend that has formed gets broken. Green vertical lines are a day after quarterly reports, white lines are when the trend for that period gets broken. Arrows are overall market events, which cause...
Tech is defying gravity. The Nasdaq broke new highs today while the Russell and S&P lag. The question begs...will the the other indexes catch up or drag the Nasdaq down? No shorting for us in these areas. We will see if we can get a break and close below the up channel (or green line around 4675)
At risk of sounding like a broken record...this is why we use triggers. Even though price zoomed in to the Trigger zone, we haven't gotten close to triggering long. We are TAKING OUR LONG TRIGGER ZONE OFF. We will now wait to see what a bounce looks like...but everything points to a visit to the 200 Day EMA. We will post a trigger zone this week.
We are still looking for pullbacks on the $NQ. For that matter you look to the $ES and the $RJ for the same. However, we like the $NQ and will look for the Trigger Zone to get long. The market is in dire need of the pullback and hopefully will give us the opportunity. We WILL NOTE chase at the thee levels. Be patient...the players that be are hell bent on...
We are short the Nasdaq from our post last night. We have set out stops and trigger. While this chart doesn't show it we hit our first target. We will leave stops in the same place and see if we can get Target #2. Stay Tuned
The $NQ kissed major resistance today and sold off hard. This paints a few pictures. 1st, if we get a close above the resistance area we could see the bulls come alive. 2nd, we should test the lower flag area. 3rd, as we approach the FOMC announcement next Thursday (17th) the market could lose it's memory from day to day and get choppy. For now we are selling...
The $NQ is in the same situation as $ES. Choose your poison. We will not take the direct break. We will wait for a pullback to trigger on a shorter time frame. ANY CLOSE ABOVE 4370 and we will change our sentiment. Next week should be fun. NO TRIGGER, NO TRADE!
The potential bear flag did not form as price shot up and finished the week strong. The $NQ is now at the major breakdown level. While we expect volatility to continue it does need a rest. We like a move back down this week. We are still long term bearish on this market and will keep an eye on the watch zone. A break down of the level could send us to the...
Nasdaq has been trading bullish since 2008. So far it has made three waves up within ongoing impulse with blue wave 3 still unfolding. On the Daily chart we are tracking an ending diagonal in red wave v-circled that can cause a top for wave three this year. However another high can still occur because on a daily chart we see a triangle in black wave (iv) of an...
Yet another index that is showing it's true colors. We're are very close to another financial turmoil here in the states. Be prepared to capitalize on this drop and do not be blindsided. Please do not listen to Kramer when he tells you to "Buy Buy Buy!!!" Thank you for your time and God bless you all!
Broken ending diagonal wedge, and currently trading within the daily MA 50 & 200 range. 5000 is also a significant psychological numeric & 2000 technology bubble resistance. It seems that the market is currently stuck in a range until contagion tears this apart to the downside. (Grexit? China bubble? US macro weakness?) I'll be expecting 10~20% correction...
4-4 Monday Morning Flush? If so? Good as there are multiple supports just below and any one of them can act as the one the markets react off of. So at the least watch those levels for stabilization. Notice what is sitting at the blue support lines? Key Fibonacci retracement zones of the 38.2% and 50% So for now call those levels multiple zones of support in...