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Nasdaqshort

NASDAQ is trading within a downtrend channelCURRENCYCOM:US100 📍 After reaching the record high level around 12500.00 investors are taking their profit because of fear about the economic slow and and doubt over economic rebound 📍 Currently the price is below the 11000.00 key psychological level. Ahead of the US presidential election everyone had a doubt over who is win the election and how they will impose new tax on corporate sector 📍 US100 is trading in a downtrend channel. And series of HH LL LH LL patterns forming. And approaching towards the lower side of the major trend line we can expect a minor rebound from this level 📍 Within this downtrend channel series of bearish flag patterns are formed which is a clear sign of bearish trend 📍 In Elliot wave theory The 3rd minor wave is forming within the major third wave. The 2nd major wave was clearly closed at 61.8% of the 1st wave 📍 Recently the tech shares are in decline phase which in turn the US100 is falling as the tech shares the major movers 📍 The price was felled below the 50,1001200 exponential moving average the Ichimoku cloud is acting as resistance for the bull 📍 If the price moved above 11840.00 level then the bearish trend got invalidated 11840.00 is a 50% Fibonacci level 📍 MACD is in red zone and oscillators are pointing towards bearish trend. But in RSI the strength is slowly fading and we can expect minor rebound up to RSI-50 📍 The next bearish target would be 10310.00 which is a July low level. In alternative case the target would be 10800.00 Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
UShort
by forexorbit
25
NASDAQ looking very weak on multiple indicatorsI continue to cobble together a trading system that will help me let my winners run while finding potential reversal points as I have gotten fairly good at buying the dip or finding longer term reversals but I leave to much on the table or I get out too soon. So lets break this down: The VSTOP system is pretty simple. The regular setting helps track areas of support and resistance and you can look at closing a position when it flips. When it does flip you have a secondary back up at the Multiple Time Frame VSTOP. Often you can get quick movements from the VSTOP to the VSTOP MTF. The current target for that move would be around $121. The On Balance Volume EMAs is one of my favorite indicators. Like many indicators it is a bit easier to but the dip than it is to short the top because of how difficult shorting can be. The purple circle does show an interesting consolidation below bearishly crossed 10 and 20 EMAs just above the 100 EMA. Should we get the expected move off the VSTOP the OBV situation would probably drive OBV below the 100 EMA and single worse things to come. Further that: the OBV showing hidden bearish divergence peak to peak as shown by the red arrow. That is very crucial and the OBV beneath the EMAs shows a lot of weakness. The blue circles on the MACD show that we have a very similar bearish cross compared to the black squares and purple circle. The MACD has a potential to cross zero and the MACD histogram is showing classic bearish divergence. Somewhat painfully for me is I know uptrends often have three highs (simple elliot wave) and the MACD helps show us where those highs are technically. I shorted the second high poorly. And finally, the 20D SMA is in a position to act as resistance. Based on this system I am cobbling together we could short and place a stop above the VSTOP and either take profit at the MTF VSTOP or look for a fib retracement of this uptrend. You could also zoom out and look for a wider support. If the price action breaks the VSTOP bullishly the setup is negated. If the OBV EMA situation is no longer bearishly stacked the setup is negated. If price action goes to the MTF VSTOP then bounces up the trade is just a swing trade and not a longer term trade.
NASDAQ:NDAQShort
by This_Guhy
2
NDX Wave (2) Pullback , Rally Not SustainableThe same predicament exist in the NDX as the SPX. NDX is facing Fib resistance at 10,993 level a triangle pattern that could unfold into wave (2) corrective wave lower. Immediate resistance 10,715 likely to find a wave (5) top for now. NDX is leading the charge on the overall indexes rally, focus on on remaining push into 10715 wave 5 Fib resistance zone and from there we’re looking for a decline back towards 10,400.
TVC:NDQShort
by wallstreetsharks