MNQ1! Next Stop 12400, Market very heavy w 2 many fluffy stocksThe fluffy stocks or "balloon" stocks with little or no revenues have taking the money flow out of an already pressured "demand" from the market and the mega-caps such as AMZN FB FDX NFLX. It will take very little selling for us to get to 12400, likely before yr end.
MNQ1!
NAS100USD NEXT TARGETNASDAQ 100 is testing descending resistance coming from beginning of September. I expect a return from this area but I won't open a position at this point. You may follow confirmation and returns, carefully. 11820 can be first support level, 11520 can be second support level and if it breaks, I will follow ascending support line.
$MNQ_F 3-Press Top Deep Dip For SellersPrice is beginning to show consolidation and range mentality. This could be a significant low reversal area in the bigger scope, but in the nearer term there is potential for a short push back. Normally, I would be looking for a move back to lows and potentially further but with the strength of the double bottom, I don't want to get caught getting stuck at the lows of a reversal which narrows in the targets for now.
$MNQ_F 3-Press Wedge Top Into ResistanceThe #MNQ1! has had a phenomenal wedge formation that broke higher. Now that prices are migrating towards the top of resistance, structural interest begins to take hold showing areas for sellers to potentially initiate new shorts to drive the market down. The daily is bullish, but the faster timeframes haven't shifted just yet suggesting this pop may be a trap for now.