📊 Friday Market Recap & Analysis
As previously mentioned, the trend had shifted downward, and I advised against taking long positions—short bias only.
Although the uptrend line was broken twice, one break was a fakeout and the price pulled back up.
Eventually, the red box support zone was broken, and the target was hit with a max drop of $363, resulting in a profit of around $7,260 per contract.
A rebound occurred as the US market opened, but a short-term trendline break at the close suggests Monday's market may lean downward—unless strong positive news emerges over the weekend.
🕰 Weekly Chart View (NASDAQ)
The weekly candle closed just slightly above the previous high, but not significantly—likely meaningless.
The 20-week MA is currently at 20,272.
If the NASDAQ breaks the recent low, there’s a high chance it could drop down to the 20-week MA + top of the Ichimoku Cloud.
📅 Daily Chart View (NASDAQ)
Buying pressure hasn’t fully disappeared yet—NASDAQ is still sitting above the 20-day MA, meaning the trend could revive.
However, if the 20-day MA (around 20,647) is broken, the price may fall into the orange box supply zone.
Historically, we’ve seen a box range movement between 20,400–19,300, so a break of the 20-day MA could lead to a repeat.
For long re-entry, the purple box zone (19,300–18,980) is a strong support area to watch.
✅ Conclusion
・Unless major news comes out over the weekend, Monday’s market will likely retest the 20-day MA.
・If that level breaks, the next drop could be around $1,000, which is significant.
・As always—wait patiently and take the trade when the market gives it to you.
As previously mentioned, the trend had shifted downward, and I advised against taking long positions—short bias only.
Although the uptrend line was broken twice, one break was a fakeout and the price pulled back up.
Eventually, the red box support zone was broken, and the target was hit with a max drop of $363, resulting in a profit of around $7,260 per contract.
A rebound occurred as the US market opened, but a short-term trendline break at the close suggests Monday's market may lean downward—unless strong positive news emerges over the weekend.
🕰 Weekly Chart View (NASDAQ)
The weekly candle closed just slightly above the previous high, but not significantly—likely meaningless.
The 20-week MA is currently at 20,272.
If the NASDAQ breaks the recent low, there’s a high chance it could drop down to the 20-week MA + top of the Ichimoku Cloud.
📅 Daily Chart View (NASDAQ)
Buying pressure hasn’t fully disappeared yet—NASDAQ is still sitting above the 20-day MA, meaning the trend could revive.
However, if the 20-day MA (around 20,647) is broken, the price may fall into the orange box supply zone.
Historically, we’ve seen a box range movement between 20,400–19,300, so a break of the 20-day MA could lead to a repeat.
For long re-entry, the purple box zone (19,300–18,980) is a strong support area to watch.
✅ Conclusion
・Unless major news comes out over the weekend, Monday’s market will likely retest the 20-day MA.
・If that level breaks, the next drop could be around $1,000, which is significant.
・As always—wait patiently and take the trade when the market gives it to you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.