QQQ back in long term channel. What's next?After spending about a month above the long term blue channel since 2009 (excludes COVID bubble), QQQ is back inside the blue channel. You can see the gap up on June 12th and gap back down on July 24th. The black channel goes all the back to 2008 and the bottom of the market and includes the COVID bubble. The black mid-channel is currently acting as support. The AI rally starting in Jan 2023 has been confined to the purple channel. I see a couple of options for the next week or two. First, we could see a rally to test resistance of the purple channel. It is possible that we jump back above and the AI rally continues, but that fells unlikely. Second, it seems to me a bigger correction could be in store to break the purple channel support down to the red trend line. The core batch of tech earnings is up the next week or so, and that is going to have a lot to do with the direction.
Weekly
NASDAQ 100 CFD
NQ1! Historical Fall and Important LevelsThe price fluctuated by more than 5% prior to the New York session, an atypical occurrence that suggests increased risk for the week ahead.
Volatility exceeding 130 should be regarded as a cautionary signal.
It may be prudent to reduce trading risks this week
This significant drop could be due to concerns that if the USA election results in a Trump victory, the USA might stop protecting Taiwan, which could cause major issues in semiconductor production.
Important liquidity levels given in the chart.
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U.S. Futures Plunge on Recession Fears (USNAS100)U.S. Futures Plunge Nearly 4% Amid Recession Fears and Global Market Sell-Off
1. Nasdaq Technical Analysis:
Last week, the Nasdaq saw a decline of approximately 10.5% due to investor fears of a recession and geopolitical tensions.
Outlook:
The bearish trend is expected to continue towards 17,360 and 17,020 as long as the price remains below 17,875.
Bullish Scenario:
A reversal is anticipated if the price rises above 17,875 and closes a 4-hour candle above this level, targeting 18,150 and 18,430.
Bearish Scenario:
If the price trades below 17,775, it is likely to drop to 17,360 and 17,000, potentially breaking 16,990 to reach as low as 16,420.
Key Levels:
- Pivot Line: 17750
- Resistance Levels: 17870, 18140, 18430
- Support Levels: 17370, 17050, 16500
Today's Expected Range:
The price is anticipated to fluctuate between the support at 16,990 and the resistance at 17,880.
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2. U.S. Futures Plunge as Recession Fears Grip Investors
U.S. stock index futures tumbled on Monday, with Nasdaq futures falling nearly 4%, as recession fears spread through global markets. The stock markets across Asia and Europe experienced significant declines, and bond yields fell as investors flocked to safe-haven assets. Many are betting that the U.S. Federal Reserve will need to cut interest rates quickly to stimulate growth.
All megacap and growth stocks, which had been the main drivers of the indexes reaching record highs earlier this year, dropped sharply in premarket trading.
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Previous idea:
Nasdaq Thoughts 05-Aug-2024HELLO Everyone! Please find my NASDAQ market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.
NAS100 I Where will BUYERS step in?? Welcome back! Let me know your thoughts in the comments!
** NAS100 Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Nasdaq 2024 GuideBeen a long time since I posted! Firing it up with my bigger-picture view of the Nasdaq.
Longer timeframe: Multi-year cup and handle - bullish into year-end
Shorter timeframe: Rising wedge - potential window of weakness around the corner (end of Feb?)
What's actionable about this chart?
- If actively trading watch for a short-term sell signal - close below the wedge/below the prior day/week low depending on your time frame
- Sell/trim into strength around 18k (top of the rising wedge)
- If there's a retest of the multi-year breakout that is a great r/r add/buy spot into year-end
- Fib extension from the 2022 low to the 2021 high measures to 20,650
- A break below 16k would put the bullish year-end thesis at risk
- This chart should have ZERO influence on individual stocks that are set up differently - follow your system
Like the post for more / comment on what you'd like to see more of.
Thanks for reading!
Nasdaq Futures Rise on Fed Cut Hopes; Amazon and Apple Earnings Nasdaq Futures Climb on Upbeat Meta Results and Fed Cut Hopes; Amazon and Apple Earnings Awaited
Technical Analysis:
The price has reached the resistance line as previously mentioned.
Next Outlook:
For the Nasdaq to maintain its bearish trend, it must stabilize below the resistance line at 19,625, targeting a move towards 19,220.
Bullish Scenario:
Closing a 4-hour candle above 19,625 could push the price to 19,740 and 19,845.
Bearish Scenario:
As long as the price trades below 19,625, the bearish trend remains intact. Stability below 19,525 will likely lead to a drop to 19,220.
Key Levels:
- Pivot Line: 19,525
- Resistance Levels: 19,625, 19,735, 19,845
- Support Levels: 19,220, 19,100, 18,930
Today's Expected Range:
The price is anticipated to fluctuate between the support at 19,100 and the resistance at 19,625.
previous idea:
NAS100 Will Move Higher! Long!
Please, check our technical outlook for NAS100.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 18,597.51.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 19,559.12 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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NAS100 Technical Analysis and Trade Idea US100 👉🔍 Looking at this NAS100 chart, we can clearly see that the price has broken a 4-hour downtrend. There is a noticeable break in market structure to the upside, followed by a significant rally with the US100. It has now reached a resistance level, and I'm anticipating a retracement back down into the 50% to 61.8% Fibonacci levels, where I'll be looking for a NASDAQ potential buy opportunity if the price action described in the video unfolds.
It's important to note that these observations are speculative and not a definitive forecast. Confirming specific price movements is crucial before making any buying or selling decisions, as explained in the video. The video provides a comprehensive analysis of the current trend, market structure, and price dynamics. Remember, this educational content is designed to enhance understanding and does not guarantee outcomes. Trading inherently involves substantial risks, so employing robust risk management techniques is essential. 📈🔔
NASDAQ Thoughts 02-AUG-2024Hello all, Kindly see my NASDAQ thoughts for today. These videos are aimed at making you compare charts with mine if you are a price acton trader and use my thoughts to improve your skill. They are not meant as signals even if they seem like they are. I want you to learn and be great
US500, NASDAQ at KEY level The price is currently at a key level, testing both support and the trendline.
1. Bearish Scenario (Breakdown):
- If the price breaks below the support level, it may indicate the beginning of an ABC correction in the Elliott Wave pattern.
- Action: Open a SHORT position with a smaller lot size.
- If the price then retests the broken support (now acting as resistance), you should open another SHORT position with a larger lot size.
- Target Levels: The price could initially drop to 5300 and potentially further to 4930.
2. Bullish Scenario (Support Holds):
- If the support holds and you observe bullish price action (e.g., long needles at the bottom of the candles), open a LONG position.
- Action: If the price forms a higher high and a higher low, or breaks above the resistance at 5560 and retests it, you can add to your LONG position.
Fundamental:
Recently, a technology crisis impacted Microsoft and several other companies' stocks. However, it appears that they have managed the situation effectively, suggesting a potential price increase. Despite this, the Volatility Index (VIX) keeps increasing, indicating persistent fear among investors. As a result, there is an equal 50/50 chance of prices moving either up or down.
NASDAQ SHORT 1500+ pips (UPDATE....FLOATING 700+ PIPS IN PROFIT)Good evening gents so today has been EXCELLENT. My previous analysis that was posted on JULY 29th has gone perfectly. During NEW YORK session today at 16:00pm (south African time), market gave us a beautiful drop out of our POI DAILY SIBI....We are now currently running 700+ pips in profit! If you were one of the viewers to see my previous post, give me a heads up if you got in on this trade. COMMENTS ON THIS POST IS MUCH APPRECIATED.
NASDAQ to find buyers at market?US100 - 24h expiry
Previous resistance level of 19262 broken.
Short term bias is mildly bullish.
A lower correction is expected.
We look to buy dips.
Further upside is expected although we prefer to buy into dips close to the 19200 level.
We look to Buy at 19200 (stop at 18990)
Our profit targets will be 19550 and 19650
Resistance: 19895 / 20790 / 20965
Support: 18890 / 18440 / 17800
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NASDAQ Loong!This index has been forming a falling flag pattern for the past few days, which IMO is a strong indicator for a bullish momentum. As for now, it seems to retest the upper trendline of the channel.
I do anticipate that it might cover the gap it created at 19690. My entry position is at 19150, TP at 19690 and SL at 18900
Nasdaq Thoughts 01-Aug-2024Happy New Month Everyone! Please find my NASDAQ market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.
Nasdaq could test the broken neck line levelLast week, the Nasdaq broke below the neckline of a head and shoulders (H&S) pattern, which took over a month to form. The price quickly accelerated to the downside, dropping almost 800 points.
However, once the price approached the rising trend line of the channel (a channel that has kept the price elevated for the past nine months), buyers entered the market, and now the Nasdaq 100 is trading back above 19,000.
This recovery could continue in the coming days, and a test of the broken support level is likely.
Looking further ahead to the medium term, if the price reverses from that level and drops below 19,000 once more, a break below the support line of the channel becomes probable, potentially leading to a deep correction.
For now though, as long as 18,700 remains intact, the bulls hold the upper hand.
Nasdaq thoughts 30-JUL-2024Hello all, Kindly see my NASDAQ thoughts for today. These videos are aimed at making you compare charts with mine if you are a price acton trader and use my thoughts to improve your skill. They are not meant as signals even if they seem like they are. I want you to learn and be great