NAS - H&S on watch - in 3Dat a crossroads - The open tomorrow will be telling - 10 year bond on watch - setting a new high at this hour (1.589%)
NAS
NAS - Deep Dive - Bounce at 50% Level of March 2020 CorrectionThe NAS saw it's strong bounce on Friday at a level that coincides with the halfway point of last year's bear market drop. Taking half as many trading days as the fear based sell-off in 2020; this years rotation driven (and now rate increase driven) correction took twice as many days. With the stimulus package passing all eyes turn to the 10 year note. A sharp rise to 2% in response to the spending bill will have me looking for another leg down before it is time to go shopping. The premarket ramps have been liquidity events to sell into. This pattern will need to end to have confidence in the bull market. The overall Head and Shoulders pattern on the NAS that encompasses all of 2021 has significant room to the downside.
NAS - Fade Edition - .5 Channel SupportThis may take a few days to resolve, the high multiple growth names have been reduced significantly. 10 year at 1.563%. NAS correction at 12%, a bit over halfway to a bear market. The bounces have been weak so far (not that it can't change on a dime) ..time for an early weekend.
Market Morning Update - NAS on a FridayFriday - statistically my worst trading day due to the options and Opex expirations. The allure of the big win can go bad so quickly - basically you must be correct to play this high risk way. The solution - play next weeks expiry or size lotto. Today NAS has Purple Channel support at the .764. The 10 year set a new high and while the non-farm payroll beat big. The intial reaction was bear followed by buy the dip. SPX nearing it's hourly 50 MA while NAS is showing continued relative weakness.
NAS - The Stock Market in 3D - A Diamond and Two RampsThis 30 minute Diamond made for a tough play today. Diamond can be continuation or reversal patterns, so price action will need to guide. 10 year Treasury currently at 1.573. The NAS leads the way with room to downside targets on the larger H&S . Short Term plays on big bounces. Would you cover your short profits or swing them over the weekend?
NAS - iH&S embedded in a Bear FlagLinear .236 Resistance from the recent move down. Found Blue Channel .236/.214 Support. Will the market sit on it's hands until Mr. Powell at noon?
NAS - 8 HR H&S - pennies on support Rotation continues, losing these supports suggests much further room to the downside. Bulls want to defend right here. Stimulus package time.
Market Morning Update - Jobs MissAre the days of buying poor job numbers in the past? NAS is in a 5 min Bear Flag: rejecting the 8 EMA. The larger iH&S pattern on the 2 hour frame would be negated with a loss of 12667. Watching for a reaction at the .5 (black dashes) if we consolidate further on the news.
NAS - Inverse in 3Dlooking forward to seeing if this one plays out! The neckline reaction will be on top watch.
NAS - Head and Shoulders ConfirmedThe key area for the overnight session is the .618 of the Blue Channel. This area along with the .5 offer supports to set-up a higher low. The linear .382 will be an area of interest. The sharp reversal in Zoom as well as the breakout in RKT demonstrate a stock-pickers market. For each and every chart there is a bull case and a bear case, two sides, one direction, many time-frames, many interpretations, ways to win while being wrong and lose while being right. From time to time riding the wave.
NAS Cup & Handle13080 has been POC and support zone building for bulls toward the end of last week; and now again early this AM. The cup formation broke high and has stayed very even. 12950 is another local POC that I expect to be the bottom for a handle formation to remain intact this AM. I'm feeling hopeful for rocket at open to around 13350-13450 and support will start be built near there Mon. and Tues.
I'm not a professional, do your own DD. I'm holding 1.4k shares TQQQ around $92 avg . Not the greatest entry, but I'm in the green here and expecting more. I'll be watching closely in pre-market today to trim my position if it looks weak. Downside scenario, I wouldn't worry unless we break the 100D EMA around 12650.
NAS - Scouting a reaction to the channel .35The strong rejection of the larger H&S neckline was notable. Now the bulls need to overtake the .35/.382. I am scouting a reaction here.
NASDAQ FOREX ANALYSISnasdaq setup: Double tops, Market trend (bearish) rejected higher highs with a higher lows, tweezers tops, rejected resistance and broken little support to next support leg. Perfect risk to reward!
time: Pre-market 10am
OANDA:NAS100USD
SPX Two Channel SupportNAS set an hourly trend change off the MBB as both SPX and NAS open the overnight with an algo on the 5 min EMA . Zooming out illuminates the strength of the bull
Market Morning Update - NAS Demand ZoneNAS defended the first breach of the 4 hour H&S, finding support at the blue circle demand zone. The price action was without a clear pattern. I am waiting for clarity.
NASDAQ Analysis Nasdaq analysis Daily/Weekly TF
Nasdaq is back at this very crucial point. where the price has come many times this year but failed to break. Will it break this time? You can see on the left hand side the weekly timeframe how many times it has come and touched or attempted to break but failed everytime. On the right hand side we have the daily timeframe we can see it is still a overall bullish trend. a failed break can probably make this bullish trend continue maybe taking us to new highs. One thing for sure when it moves it will move fast.
NAS - Back testing neckline of major H&Sthis H&S has been developing the entirety of 2021. A confirmation would result in a major correction. This neckline is the new line in the sand. A very important overnight session on tap
Morning Market Review - SPX and NASNAS and SPX both saw mini H&S patterns confirm during the overnight session. Both have Blue Channel resistance at .35/.382 which will be on top watch if we break bull. This would negate the bear flag NAS is in. There is a potential larger H&S on watch if the GME gains traction and dealer/funds begin to move assets to cover.
