NQ failed to reclaim the 11950 pivot and remains weak. Potential trade opportunity to short the market to the recent lows.
Contract - CME_MINI:NQZ2020 - High - 11935.50 - Low - 11882.50 Current Stats - Gap: = N/A - Session Open ATR: 253.09 - Volume: 15k (Extremely light for a Sunday night) - Trend Grade: Neutral Key Levels (Rounded - Think of these as a range) - Long: 12440 - Short: 10665 Keep in mind this is not speculation or a prediction. Only a report of the Power Range...
Still waiting on either a move up through 12,200 to confirm a bullish breakout, or a break down through 11,800. Targets in pink and yellow set up each scenario in the event we break up or down, so these are our 2 levels we are watching for. Ultimately this week we could just bounce around in this range, I personally am waiting for confirmation by watching these...
Had a discussion with someone this week about a pending sell off of equities, that low 3200 on SPX is support on what we could see on a candlestick chart - and its true and its obvious, maybe its too obvious. So taking time out the equation and looking solely on the price action of a Renko chart you can see that all three Indexes have solid trendlines. The...
NQ at the daily. The NQ transitioned into a new price structure. However, the structure is still pretty vague compared to the last trend. For now, the NQ seems to be trapped in a wedge . There is a definite rotation between tech and non-tech sectors. Investors remain overall bullish in tech and bearish in non-tech. As a result, non-tech sectors like financials...
High base, ROC downtrending channel, swing down failure ...poised to....?
The Nasdaq may show an ending dialogue pattern after the big tech stocks' final ascent parade is over. Then, a monthly correction may come in the first quarter of next year.
I wouldn;t chase tech or hold it over the weekend... Maybe they do the whole "vaccine" tech selloff again Monday. That would be hilarious, 3 weeks in a row. Also, today is options expiration, so expect a whipsaw. All other indicators in the middle.
Contract - CME_MINI:NQZ2020 - High - 11961.25 - Low - 11923.50 Current Stats - Gap: = N/A - Session Open ATR: 263.59 - Volume: 33k - Trend Grade: Neutral Key Levels (Rounded - Think of these as a range) - Long: 12440 - Short: 10665 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting....
in all honesty- these are the only possibilities I see (in pictures below) ....thoughts?
As the Dow is on the rise, we expect the NASDAQ to rise as well. However, w-x-y correction must be completed to complete wave2.