Nasdaq
Election Volatility Shakes Up US MarketsS&P 500
● The index retreated from its all-time high of 5,880, initiating a downward trend.
● A breakdown below the Rising Wedge pattern has been confirmed.
● Key support levels to watch:
➖ Immediate support: 5,670
➖ Strong support: 5,400
Nasdaq Composite
● The index has hit an all-time high near the 18,750 level before beginning to retreat.
● After breaking through the trendline support, the index is currently hovering slightly above the next immediate support level.
● If it dips below this support, we could see a significant drop, potentially driving the index down to the 16,670 level.
**This market volatility is consistent with historical trends during US presidential election years. The 2024 election is particularly unpredictable due to conflicting economic indicators and potential delays in results.
Intel (INTC): Patience is key while the market is rangingNothing significant has changed on NASDAQ:INTC since our last analysis. It appears that Intel may have found a bottom at the 88.2% Fibonacci level, but the stock has remained in a range since then. Unless the resistance level above is reclaimed, we wouldn’t be surprised to see continued ranging behavior.
Even Intel’s latest earnings report didn’t create much movement. Despite posting a considerable net loss due to impairment and restructuring charges, Intel projected fourth-quarter revenue above estimates. As one of the largest producers of PC chips, Intel has recently benefited from renewed demand for PCs, driven by on-device AI features and a fresh Windows update cycle. These factors allowed Intel to exceed Wall Street’s low expectations, but not enough to break the current range.
We’ll continue to monitor NASDAQ:INTC , but as it stands, trying to long it into the overhead resistance doesn’t make sense from our perspective. Patience is often the best strategy in such uncertain market conditions.
NASDAQ Rejected on the 1hour MA50 but bottom is in.Nasdaq / US100 is trading inside a monthly Channel Up.
Despite getting rejected today on the 1hour MA50, the Higher Low at the bottom of the Channel Up has been priced in.
This is a good buy opportunity. Target 20350 (the 0.618 Fibonacci level).
Previous chart:
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XAUUSD IS BACK !With a little more drawdown today and the beginning of next week, XAUUSD has showed everyone what it was capable of the past few days by reaching such high levels ;
It has to bounce on the double uptrend green limit, then go up and wait a little for the 5th of november ;
on this day markets will go nuts for every asset, so it seems like gold might be going for a big rally to the 2780/90s
BTC POSSIBLE NEXT MOVE !With some delay on the time BTC finally decided to come down, it eventually did what we thought, came back to lower KL ;
but with the previous days' big spike up and down, it is now a perfect time for the price to "de-correct" and come back to the 75Ks, before coming back down ;
for now and the newt few weeks, it seems really tough to break 78/79K, probably next year.
US100 TOWARDS THE SKYWe missed the entry yesterday thinking it would bounce way harder than that, it actually took several hours to get back in an uptrend position ;
for now it seems a little corection to the LL is coming after the 15:30 rush ;
after that, US100 is going to the roof and taking the uptrend direction back.
Trading Plan ES TODAYCurrent Position: Average entry price stands at 5741, ATM.
Trading Plan:
Targeting a push toward 5800, with plans to exit prior to the U.S. market open.
Although seller momentum appears depleted, I remain cautious about the likelihood of a sustained rally.
Intraday Strategy:
Hold a bullish outlook until the market open.
Anticipate a retracement toward yesterday’s close, at which point I intend to re-enter long positions.
Monitoring Approach: I will closely supervise the U.S. market open trades with heightened scrutiny compared to pre-market positioning.
NASDAQ 100 Sinks on AI Cost Woes - Full Target Breakthrough HIT!NASDAQ 100 (NDX) Analysis using Risological Swing Trader:
In the 15-minute timeframe, NASDAQ 100 (NDX) demonstrated a powerful bearish move, with all targeted profit levels being achieved in a swift drop. This short trade setup showed significant follow-through as investor sentiment shifted negatively due to concerns over escalating AI expenses reported by Wall Street's megacaps.
Key Highlights:
Entry Level: 20,429.42
Target Levels:
TP1: 20,323.94
TP2: 20,153.26
TP3: 19,982.58
TP4: 19,877.10
Stop Loss: 20,514.76
Context:
This bearish momentum aligns with Wall Street’s close on a lower note as major tech giants highlighted rising costs linked to AI developments. The day's range fluctuated between 19,880.26 and 20,227.19, underscoring the volatility and risk aversion among investors. The setup capitalized effectively on this negative sentiment, reinforcing the bearish outlook.
Summary:
This trade on NASDAQ 100 hit all targets with precision, benefiting from the broader market's reaction to heightened cost pressures in the tech sector. This downward move underscores the impact of macroeconomic concerns on equity performance, particularly in high-cost sectors like AI.
MS and META brought down the entire index
USTEC continued its decline following disappointing earnings from two major tech stocks. Despite Apple (AAPL) and Amazon (AMZN) reporting earnings and revenue above expectations, Apple’s shares fell in after-hours trading due to weaker sales in China. Meanwhile, the VIX has climbed to its highest level since Aug, signaling potential headwinds as elections approach.
USTEC declined steeply and failed to hold the 20000 threshold. The index broke the channel’s lower bound, and EMA21 has death-crossed EMA78, sending a bearish signal.
If USTEC fails to re-enter the channel, the index's downtrend may extend to 19700.
Conversely, if USTEC breaches 20140 after re-entering the channel, the price may gain upward momentum to 20680.
NASDAQ is Approaching An Important SupportHey Traders, in today's trading session we are monitoring NAS100 for a buying opportunity around 19600 zone, NASDAQ is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 19600 support and resistance area.
Trade safe, Joe.
NASDAQ Bottom of the Megaphone.Nasdaq is trading inside a Megaphone pattern on the (1h) time frame.
The price is very close to its bottom, which starts to signal a buy.
Each of the previous two bottom rallies, hit at least the 0.786 Fibonacci level.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 20450 (litle under the 0.786 Fibonacci level).
Tips:
1. The RSI (1h) turned oversold. A strong buy indicator.
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Marathon Digital Holdings (MARA) AnalysisCompany Overview: Marathon Digital Holdings NASDAQ:MARA is a key player in the cryptocurrency mining sector, particularly focused on Bitcoin production. The company has shown resilience and operational strength in its mining activities, making it well-positioned for future growth.
Key Developments:
Positive Analyst Ratings: Analysts from Macquarie and Cantor Fitzgerald have set price targets above $20, indicating strong growth potential for Marathon Digital. This reflects growing confidence in the company's operational and market strategies.
Increased Bitcoin Production: In September 2024, Marathon reported a 5% increase in Bitcoin production, reinforcing its operational strength. Additionally, the company achieved a 28% increase in Q1 2024 production, yielding 2,811 BTC compared to the same quarter in 2023. This efficiency in production underlines Marathon’s capacity to scale effectively in a competitive market.
Favorable Cryptocurrency Market: With Bitcoin recently surpassing $67,000, the broader cryptocurrency market is showing favorable conditions. This surge allows MARA to capitalize on increased investor interest in crypto stocks, positioning the company for substantial market gains.
Investment Outlook: Bullish Outlook: We are bullish on MARA above the $16.00-$17.00 range, driven by the company’s production efficiency and favorable market conditions. Upside Potential: Our target for Marathon Digital is set at $32.00-$33.00, supported by positive analyst sentiment and operational achievements.
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