MFI oversold, looks like we get a bounce here. The easy money shorting COVID stocks is done, flipped my puts.
MFI heading down fast but RSI isn't. Means that the market is buying stocks while they dump futures. Usually means a melt up. Wait until MFI gets oversold, then we'll see another pump. Probably just a sideways whipsaw for a couple of days.
Still stying short, even if I had to bleed a little on the way up.
Contract - CME_MINI:NQZ2020 - High - 11901.25 - Low - 11850.00 Current Stats - Gap: = +0.13% - Session Open ATR: 318.89 - Volume: 63k - Trend Grade: Neutral Key Levels (Rounded - Think of these as a range) - Long: 12440 - Short: 10950 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target...
I think NASDAQ 100, missed its momentum and could pass over it's last resistance by going the opposite direction of S&P 500 which doesn't always happen, but NASDAQ is being overbought allot. this can change any moment, one of the most likely reasons is, if Biden sets a solution of Covid 19, means good news of Covid 19 drives the market higher and bad news lower,...
Elliott Wave View in Nasdaq (NQ) suggests it is currently within wave ((5)) from March low. The Index still needs to break above wave ((3)) at 12465.25 on September 2 high to validate this view. Internal of wave ((5)) is unfolding as an an impulse Elliott Wave structure where wave (1) ended at 12249 and wave (2) pullback ended at 10945.77. In the short term 45...
Price at resistance line and momentum oscillators moving into oversold area. Moving stop to breakeven and taking 50% profit at 12176
+2 Channel Trading +1 High time frame (1H ~) +1 Volume profile +1 Trend trading Strategy Quality 5 / 10
NQ1! today hit a resistance level and instead of continuing to uptrend, it made a lower low. The failure is also shown by the MACD. I think that NQ1! has exhausted it's momentum.
daily chart has built in divergence now no matter how high it goes. i will short at touches of the daily bollinger band at 2.5 sd
+1 Break Support or Resistance +1 High time frame (1H ~) +3 Inverted candle +2 Major Support Line Strategy Quality 7 / 10
Contract - CME_MINI:NQZ2020 - High - 12258.50 - Low - 12122.00 Current Stats - Gap: = +0.38% - Session Open ATR: 306.32 - Volume: 55k - Trend Grade: Neutral Key Levels (Rounded - Think of these as a range) - Long: 12440 - Short: 10950 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target...
Laying out the possible scenarios that could play out as we reach this critical support. I still expect a C wave back down, but that could change if we see a sustained break above the resistance. Copyright Rohan Karunaratne 2020