1/22 Weekly Plan. ES Futures March NQH24 Weekly Pivot is 17,3901/22 Weekly Plan. NQ Futures March ESH24 Weekly Pivot is 17,390
Targets
17,480
17,625
17,770
Targets
17,270
17,158
17,022
Now trading at 17,563 (between uT1-2)
Alerts
You will receive alerts in this channel every time NQ hits (2M candle close):
Weekly opening 17,466
Weekly pivot at 17,390
Each weekly target.
Side notes
NQ is currently OTFU in all timeframes (D-W-M), daily which would come to an end if 17,166 is breached during RTH session.
NASDAQ 100 CFD
🐱🐉 The Magnificent, One and Only Million Million OpportunityAs we approach the end of 2023, we are just a short time away from the 1st anniversary of the AI research company ChatGPT's chatbot being launched on November 30, 2022.
This publication, although dedicated to a single company - Microsoft Corporation - is educational in nature, and is a representation of a letter to shareholders - 2023 by Satya Nadella, Chairman and CEO of Microsoft Corporation NASDAQ:MSFT - the second company in the world after Apple in terms of market capitalization.
I hope that each of you will be able to master it, look back, and realize what a rapidly changing world we all live in now.
Enjoy!
October 16, 2023
Dear shareholders, colleagues, customers, and partners:
We are living through a time of historic challenge and opportunity. As I write this, the world faces ongoing economic, social, and geopolitical volatility. At the same time, we have entered a new age of AI that will fundamentally transform productivity for every individual, organization, and industry on earth, and help us address some of our most pressing challenges.
This next generation of AI will reshape every software category and every business, including our own. Forty-eight years after its founding, Microsoft remains a consequential company because time and time again—from PC/Server, to Web/Internet, to Cloud/Mobile—we have adapted to technological paradigm shifts. Today, we are doing so once again, as we lead this new era.
Amid this transformation, our mission to empower every person and every organization on the planet to achieve more remains constant. As a company, we believe we can be the democratizing force for this new generation of technology and the opportunity it will help unlock for every country, community, and individual, while mitigating its risks.
Here are just a few examples of how we are already doing this:
• Leading electronic health records vendor Epic is addressing some of the biggest challenges facing the healthcare industry today—including physician burnout—by deploying a wide range of copilot solutions built on Azure OpenAI Service and Dragon Ambient eXperience Copilot.
• Mercado Libre is reducing the time its developers spend writing code by more than 50 percent with GitHub Copilot, as the company works to democratize e-commerce across Latin America.
•Mercedes-Benz is making its in-car voice assistant more intuitive for hundreds of thousands of drivers using ChatGPT via the Azure OpenAI Service.
• Lumen Technologies is helping its employees be more productive, enabling them to focus on higher value-added activities, by deploying Microsoft 365 Copilot.
• Nonprofit The Contingent is matching foster families with children in need using Dynamics 365, Power BI, and Azure, with an eye on using AI to amplify its work across the US.
• And, Taiwan’s Ministry of Education has built an online platform to help elementary and high school students learn English using Azure AI.
To build on this progress, we remain convicted on three things: First, we will maintain our lead as the top commercial cloud while innovating in consumer categories, from gaming to professional social networks. Second, because we know that maximum enterprise value gets created during platform shifts like this one, we will invest to accelerate our lead in AI by infusing this technology across every layer of the tech stack. And, finally, we will continue to drive operating leverage, aligning our cost structure with our revenue growth.
As we make progress on these priorities, we delivered strong results in fiscal year 2023, including a record $211 billion in revenue and over $88 billion in operating income.
A NEW ERA OF AI
There are two breakthroughs coming together to define this new era of AI.
• The first is the most universal interface: natural language. The long arc of computing has, in many ways, been shaped by the pursuit of increasingly intuitive human-computer interfaces—keyboards, mice, touch screens. We believe we have now arrived at the next big step forward—natural language—and will quickly go beyond, to see, hear, interpret, and make sense of our intent and the world around us.
• The second is the emergence of a powerful new reasoning engine. For years, we’ve digitized daily life, places, and things and organized them into databases. But in a world rich with data, what has been most scarce is our ability to reason over it. This generation of AI helps us interact with data in powerful new ways—from completing or summarizing text, to detecting anomalies and recognizing images—to help us identify patterns and surface insights faster than ever.
Together, these two breakthroughs will unlock massive new opportunity. And, in fact, just last month we announced our vision for Copilot, an everyday AI companion. We are building Copilot into all our most used products and experiences and allowing people to summon its power as a standalone app as well. Just like you boot up an OS to access applications or use a browser to visit websites today, our belief is that you will invoke a Copilot to do all those activities and more: to shop, to code, to analyze, to learn, to create.
As a company, any time we approach a transition like this, we do so responsibly. We believe AI should be as empowering across communities as it is powerful, and we’re committed to ensuring it is responsibly built and designed, with safety in mind from the outset.
OUR OPPORTUNITY
Every customer solution area and every layer of our tech stack will be reimagined for the AI era. And that’s exactly what we’ve already begun to do:
Infrastructure
Four years ago, we first invested in our AI supercomputer, with a goal of building the best cloud for training and inference. Today, it’s being used by our partner OpenAI to power its best-in-class foundation models and services, including one of the fastest-growing consumer apps ever—ChatGPT. NVIDIA, as well as leading AI startups like Adept and Inflection, is also using our infrastructure to build its own breakthrough models.
More broadly, organizations continue to choose our ubiquitous computing fabric—from cloud to edge—to run their mission-critical applications. We continued to see more cloud migrations to Azure this past fiscal year, as it remains early when it comes to the long-term cloud opportunity. And we also continue to lead in hybrid computing with Azure Arc, which now has 18,000 customers.
Data and AI
Every AI app starts with data, and having a comprehensive data and analytics platform is more important than ever. Our Intelligent Data Platform brings together operational databases, analytics, and governance so organizations can spend more time creating value and less time integrating their data estate. We also introduced Microsoft Fabric this year, which unifies compute, storage, and governance with a disruptive business model.
With Azure AI, we are making foundation models available as platforms to our customers. We offer the best selection of industry-leading frontier and open models. In January, we made the Azure OpenAI Service broadly available, bringing together advanced models, including ChatGPT and GPT-4, with the enterprise capabilities of Azure. More than 11,000 organizations across industries are already using it for advanced scenarios like content and code generation. Meta chose us this summer as its preferred cloud to commercialize its Llama family of models. And, with Azure AI Studio, we provide a full lifecycle toolchain customers can use to ground these models on their own data, create prompt workflows, and help ensure they are deployed and used safely.
Digital and app innovation
GitHub Copilot is fundamentally transforming developer productivity, helping developers complete coding tasks 55 percent faster. More than 27,000 organizations have chosen GitHub Copilot for Business, and to date more than 1 million people have used GitHub Copilot to code faster. We also announced our vision for the future of software development with GitHub Copilot X, which will bring the power of AI throughout the entire software development lifecycle. All up, GitHub surpassed $1 billion in annual recurring revenue for the first time this fiscal year.
We’re also applying AI across our low-code/no-code toolchain to help domain experts across an organization automate workflows, create apps and webpages, build virtual agents, or analyze data, using just natural language with copilots in Power Platform. More than 63,000 organizations have used AI-powered capabilities in Power Platform to date.
Business applications
We are bringing the next generation of AI to employees across every job function and every line of business with Dynamics 365 Copilot, which works across CRM and ERP systems to reduce burdensome tasks like manual data entry, content generation, and notetaking. In fact, our own support agents are using Copilot in Dynamics 365 Customer Service to resolve more cases faster and without having to call on peers to help. With our Supply Chain Platform, we’re helping customers apply AI to predict and mitigate disruptions. And, with our new Microsoft Sales Copilot, sellers can infuse their customer interactions with data from CRM systems—including both Salesforce and Dynamics—to close more deals.
All up, Dynamics surpassed $5 billion in revenue over the past fiscal year, with our customer experience, service, and finance and supply chain businesses each surpassing $1 billion in annual sales.
Industry
Across industries, we are rapidly becoming the partner of choice for any organization looking to generate real value from AI. In healthcare, for example, we introduced the world’s first fully automated clinical documentation application, DAX Copilot. The application helps physicians reduce documentation time by half, freeing them to spend more time face to face with patients. And Epic will integrate it directly into its electronic health records system.
And, in retail, we introduced new tools to help companies manage their day-to-day operations and digitize their physical stores.
Modern work
We are rapidly evolving Microsoft 365 into an AI-first platform that enables every individual to amplify their creativity and productivity, with both our established applications like Office and Teams, as well as new apps like Designer, Stream, and Loop. Microsoft 365 is designed for today’s digitally connected, distributed workforce.
This year, we also introduced a new pillar of customer value with Microsoft 365 Copilot, which combines next-generation AI with business data in the Microsoft Graph and Microsoft 365 applications to help people be more productive and unleash their creativity at work. Just last month, I was excited to announce that we will make Microsoft 365 Copilot generally available to our commercial customers later this year.
We continue to build momentum in Microsoft Teams across collaboration, chat, meetings, and calls. We introduced a new version of Teams that delivers up to two times faster performance, while using 50 percent less memory. We also introduced Teams Premium to meet enterprise demand for AI-powered features like intelligent meeting recaps. All up, Teams usage surpassed 300 million monthly active users this year.
With Microsoft Viva, we have created a new category for employee experience. Copilot in Viva offers leaders a new way to build high-performance teams by prioritizing both productivity and employee engagement. This year, Viva surpassed 35 million monthly active users.
Security
As the rate and pace of cyberthreats continue to accelerate, security is a top priority for every organization. Our comprehensive, AI-powered solutions give defenders the advantage. With Security Copilot, we’re combining large language models with a domain-specific model informed by our threat intelligence and 65 trillion daily security signals, to transform every aspect of security operations center productivity.
All up, more than 1 million organizations now count on our comprehensive, AI-powered solutions to protect their digital estates, and our security business surpassed $20 billion in annual revenue, as we help protect customers across clouds and endpoint platforms.
Search, advertising, and news
We are reshaping daily search and web habits with our new Bing and Microsoft Edge browser, which brings together search, browsing, chat, and AI into one unified experience to deliver better search, more complete answers, a new chat experience, and the ability to generate content. We think of these tools as an AI copilot for the web.
We are also bringing these breakthrough capabilities to businesses, with Bing Chat Enterprise, which offers commercial data protection, providing an easy on-ramp for any organization looking to get the benefit of next-generation AI today.
Although it’s early in our journey, Bing users engaged in more than 1 billion chats and created more than 750 million images over the past year as they apply these new tools to get things done. And Edge has taken share for nine consecutive quarters.
More broadly, we continue to expand our opportunity in advertising. This year, Netflix chose us as its exclusive technology and sales partner for its first ad-supported subscription offering, a validation of the differentiated value we provide to any publisher looking for a flexible partner to build and innovate with them.
LinkedIn
The excitement around AI is creating new opportunities across every function—from marketing, sales, service, and finance, to software development and security. And LinkedIn is increasingly where people are going to learn, discuss, and uplevel their skills. We are using AI to help our members and customers connect to opportunities and tap into the experiences of experts on the platform. In fact, our AI-powered articles are already the fastest-growing traffic driver to the network.
All up, LinkedIn’s revenue surpassed $15 billion for the first time this fiscal year, a testament to how mission critical the platform has become to help more than 950 million members connect, learn, sell, and get hired.
Gaming
In gaming, we are rapidly executing on our ambition to be the first choice for people to play great games whenever, wherever, and however they want. With Xbox Game Pass, we are redefining how games are distributed, played, and viewed. Content is the flywheel behind the service’s growth, and our pipeline has never been stronger. It was especially energizing to release Starfield this fall to broad acclaim, with more than 10 million players in the first month post-launch alone.
Earlier this month, we were thrilled to close our acquisition of Activision Blizzard, and we look forward to sharing more in the coming months about how, together , we will bring the joy of gaming to more people around the world.
Devices and creativity
Finally, we’re turning Windows into a powerful new AI canvas with Copilot, which rolled out as part of a Windows 11 update last month. It uniquely incorporates the context and intelligence of the web, your work data, and what you are doing in the moment on your PC to provide better assistance, while keeping your privacy and security at the forefront. Overall, the number of devices running Windows 11 more than doubled in the past year. And we are also transforming how Windows is experienced and managed with Azure Virtual Desktop and Windows 365, which together surpassed $1 billion in annual revenue for the first time.
OUR RESPONSIBILITY
As we pursue our opportunity, we are also working to ensure technology helps us solve problems—not create new ones. To do this, we focus on four enduring commitments that are central to our mission and that take on even greater importance in this new era. For us, these commitments are more than just words. They’re a guide to help us make decisions across everything we do—as we design and develop products, shape business processes and policies, help our customers thrive, build partnerships, and more —always asking ourselves critical questions to ensure our actions are aligned with them.
How can we expand opportunity?
First, we believe access to economic growth and opportunity should reach every person, organization, community, and country. And although AI can serve as a catalyst for opportunity and growth, we must first ensure everyone has access to the technologies, data, and skills they need to benefit.
To achieve this, we are focused on getting technology into the hands of nonprofits, social entrepreneurs, and other civil society organizations to help them digitally transform, so they can help address some of society’s biggest challenges. This year, we provided nonprofits with over $3.8 billion in discounted and donated technology. Nearly 325,000 nonprofits used our cloud. And to help them tap the potential of AI, we’re building new AI capabilities for fundraising, marketing, and program delivery.
AI will displace some jobs, but it will also create new ones. That’s why we aim to train and certify 10 million people by 2025 with the skills for jobs and livelihoods in an increasingly digital economy. Since July 2020, we’ve helped 8.5 million people, including 2.7 million this year. We’ve also focused on skilling women and underrepresented communities in cybersecurity, working across 28 countries and with nearly 400 US community colleges to scale our efforts.
Finally, to help people learn more about AI, we launched the first online Professional Certificate on Generative AI in partnership with LinkedIn Learning, created AI tools for educators, and held our first AI Community Learning event in the US. These events will be replicated around the world and localized in 10 languages over the next year. We also partnered to launch a Generative AI Skills Grant Challenge to explore how nonprofit, social enterprise, and research or academic institutions can empower the workforce to use this new generation of AI.
How can we earn trust?
To create positive impact with technology, people need to be able to trust the technologies they use and the companies behind them. For us, earning trust spans the responsible use of AI, protecting privacy, and advancing digital safety and cybersecurity.
Our commitment to responsible AI is not new. Since 2017, we’ve worked to develop our responsible AI practice, recognizing that trust is never given but earned through action.
We have translated our AI principles into a core set of implementation processes, as well as tools, training, and practices to support compliance. But internal programs aren’t enough. We also enable our customers and partners to develop and deploy AI safely, including through our AI customer commitments and services like Azure AI Studio, with its content safety tooling and access to our Responsible AI dashboard.
Building AI responsibly requires that we work with other industry leaders, civil society, and governments to advocate for AI regulations and governance globally. This year, we released our Governing AI Blueprint, which outlines concrete legal and policy recommendations for AI guardrails. We are signatories to the eight voluntary commitments developed with the US White House, and proud of the six additional commitments we’ve made to further strengthen and operationalize the principles of safety, security, and trust.
The era of AI heightens the importance of cybersecurity, and we deepened our work across the private and public sectors to improve cyber-resilience. We’ve continued to support Ukraine in defending critical infrastructure, detecting and disrupting cyberattacks and cyberinfluence operations, and providing intelligence related to these attacks. Our Microsoft Threat Analysis Center team produced more than 500 intelligence reports to help keep customers and the public informed. And we published our third annual Microsoft Digital Defense Report, sharing our learnings and security recommendations.
We also remain committed to creating safe experiences online and protecting customers from illegal and harmful content and conduct, while respecting human rights. We supported the Christchurch Call Initiative on Algorithmic Outcomes to address terrorist and violent and extremist content online. And through the World Economic Forum’s Global Coalition for Digital Safety, we co-led the development of new global principles for digital safety.
Protecting customers’ privacy and giving them control of their data is more important than ever. We’ve begun our phased rollout of the EU Data Boundary, supporting our commercial and public sector customers’ need for data sovereignty. And each month, more than 3 million people exercise their data protection rights through our privacy dashboard, making meaningful choices about how their data is used.
How can we protect fundamental rights?
In an increasingly digital world, we have a responsibility to promote and protect people’s fundamental rights and address the challenges technology creates. For us, this means upholding responsible business practices, expanding connectivity and accessibility, advancing fair and inclusive societies, and empowering communities.
In 2023, we worked diligently to anticipate harmful uses of our technology and put guardrails on the use of technologies that are consequential to people’s lives or legal status, create risk of harm, or threaten human rights. We will continue to assess the impact of our technologies, engage our stakeholders, and model and adopt responsible practices and respect for human rights—including across our global supply chain.
Today, our lives are more connected than ever. Access to education, employment, healthcare, and other critical services is increasingly dependent on technology. That’s why we’ve expanded our commitment to bring access to affordable high-speed internet to a quarter of a billion people around the world, including 100 million people in Africa, by the end of 2025. Since 2017, we’ve helped bring internet access to 63 million people, a key first step to ensuring communities will have access to AI and other digital technologies.
This year, we also continued working toward our five-year commitment to bridge the disability divide with a focus on helping close the accessibility knowledge gap. Seven hundred and fifty-thousand learners enriched their understanding of disability and accessibility in partnership with LinkedIn Learning, Teach Access, and the Microsoft disability community.
In addition, we’re stepping up efforts to combat online disinformation through new media content provenance technologies—enabling users to verify if an image or video was generated by AI. We continued our efforts to promote racial equity across Microsoft, our ecosystem, and our communities, including our work to advance justice reform through data-driven insights. And we provided support in response to eight humanitarian disasters, including committing $540 million of support to those who have been impacted by the War in Ukraine.
Finally, recognizing AI’s potential to advance human rights and humanitarian action, we worked on several AI for Humanitarian Action projects. Together with our partners, we’re building the capabilities to identify at-risk communities, estimate seasonal hunger, predict malnutrition, and assist in disease identification.
How can we advance sustainability?
Climate change is the defining issue of our generation, and addressing it requires swift, collective action and technological innovation. We are committed to meeting our own goals while enabling others to do the same. That means taking responsibility for our operational footprint and accelerating progress through technology.
We continue to see extreme weather impacting communities globally. To meet the urgent need, this must be a decade of innovation and decisive action—for Microsoft, our customers, and the world.
In our latest Environmental Sustainability Report, we shared our progress toward our 2030 sustainability targets across carbon, water, waste, and ecosystems. In 2022, our overall carbon emissions declined by 0.5 percent while our business grew. Addressing scope 3 emissions, which account for the vast majority of our emissions, is arguably our ultimate challenge—one we’ll continue to tackle through our supply chain, policy advances, and industry-wide knowledge-sharing.
We’ve provided just under 1 million people with access to clean water and sanitation, one of five pillars on our path to becoming water positive. And in our pursuit to be zero waste, we achieved a reuse and recycle rate of 82 percent for all our cloud hardware and diverted over 12,000 metric tons of solid operational waste from landfills and incinerators.
We also continue to take responsibility for the impacts of our direct operations on Earth’s ecosystems. We’ve contracted to protect 17,268 acres of land, over 50 percent more than the land we use to operate. Of that, 12,270 acres—the equivalent of approximately 7,000 soccer fields—were designated as permanently protected.
Technology is a powerful lever to help us avoid the most severe impacts of climate change. That’s why we’re accelerating our investment in more efficient datacenters, clean energy, enhancements to the Microsoft Cloud for Sustainability and Planetary Computer, and green software practices. To date, through our Climate Innovation Fund, we’ve allocated more than $700 million to a global portfolio of 50+ investments spanning sustainable solutions in energy, industrial, and natural systems.
Finally, we believe AI can be a powerful accelerant in addressing the climate crisis. We expanded our AI for Good Lab in Egypt and Kenya to improve climate resilience for the continent. And, together with our partners, we launched Global Renewables Watch, a first-of-its-kind living atlas that aims to map and measure utility-scale solar and wind installations, allowing users to evaluate progress toward a clean energy transition.
Although this new era promises great opportunity, it demands even greater responsibility from companies like ours. As we pursue our four commitments, we focus on transparency—providing clear reporting on how we run our business and how we work with customers and partners. Our annual Impact Summary shares more about our progress and learnings this year, and our Reports Hub provides detailed reports on our environmental data, political activities, workforce demographics, human rights work, and more.
OUR CULTURE
There’s never been a more important time to live our culture. The way we work and the speed at which we work are changing.
In an economy where yesterday’s exceptional is today’s expected, all of us at Microsoft will need to embrace a growth mindset and, more importantly, confront our fixed mindsets as our culture evolves. It will take everyday courage to reformulate what innovation, business models, and sales motions look like in this new era. As a high-performance organization, we aspire to help our employees maximize their economic opportunity, while simultaneously helping them learn and grow professionally and connect their own passion and purpose with their everyday work and the company’s mission.
To be successful, we need to be grounded in what our customers and the world need. We need to innovate and collaborate as One Microsoft. And we need to actively seek diversity and embrace inclusion to best serve our customers and create a culture where everyone can do their best work. To empower the world, we need to represent the world. To that end, we remain focused on increasing representation and strengthening our culture of inclusion. Even as we navigated challenges this year, our company continued to be the most globally diverse it’s ever been.
Giving also remains core to our culture. This year, more than 105,000 employees gave $242 million (including company match) to over 35,000 nonprofits in 116 countries. And our employees volunteered over 930,000 hours to causes they care about.
I am deeply grateful to our employees for their commitment to the company and their communities, and how they are living our mission and culture every day in a changing company and world.
**
In closing, this is Microsoft’s moment.
We have an incredible opportunity to use this new era of AI to deliver meaningful benefits for every person and every organization on the planet.
On New Year’s Day, I saw a tweet from Andrej Karpathy, Tesla’s former director of AI who now works at OpenAI, about how GitHub Copilot was writing about 80 percent of his code, with 80 percent accuracy. Two days later, I saw a stunning example of work we’ve done with the government of India’s Ministry of Electronics and IT, which is applying an AI model so farmers in rural areas can interact with government resources in their native languages.
Think about that: A foundation model that was developed on the West Coast of the United States is already transforming the lives of both elite developers and rural farmers on the other side of the globe. We’ve not seen this speed of diffusion and breadth of impact in the tech industry before.
As a company, this is our moment to show up and responsibly build solutions that drive economic growth and benefit every community, country, industry, and person. If we do it well, the world will do well, and Microsoft will do well too. I’ve never been more confident that we will deliver on this promise together in the days, months, and years to come.
Satya Nadella
Chairman and Chief Executive Officer
Thanks for reading. I hope the publication was useful and interesting for you.
@Pandorra 😎
NASDAQ to continue in the upward move?NAS100USD - Intraday
The 261.8% Fibonacci extension is located at 17117 from 16568 to 16773.
A Fibonacci confluence area is located at 17184.
There is scope for mild selling at the open but losses should be limited.
Previous resistance, now becomes support at 17000.
The medium term bias is neutral.
We look to Buy at 17000 (stop at 16900)
Our profit targets will be 17250 and 17290
Resistance: 17117 / 17184 / 17200
Support: 17000 / 16902 / 16801
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NDX Will Fall! Short!
Here is our detailed technical review for NDX.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 16827.06.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 16266.68 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
NASDAQ Starting a double Top rejection towards the 1day MA200.Nasdaq / US100 is pulling back after a Double Top formation at 16970.
The 1day RSI is already inside a Channel Down, much like the patterns of the July 19th 2023 and February 03 2023 Tops.
They both declined by -9.00% on average.
Sell and target 15850, which is slightly over the bottom of the Rising Wedge (Rising Support) - 1day MA200 - 0.5 Fibonacci Support Zone.
Previous chart:
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NASDAQ: Potential correction to the 1D MA200.Nasdaq is on a bullish 1D technical outlook (RSI = 60.007, MACD = 103.260, ADX = 29.522) as since January 5th it reversed before testing the 1D MA50 and is near the R1 level (16,980). The last three 1D candles have been flat and with the RSI trading downwards (Bearish Divergence), it is a first sign of a potential technical decline. This is like the top pattern of July 18th 2023, also on an RSI Bearish Divergence. In accordance to that price action, we expect yet another decline under the 1D MA50, for a close test of the 1D MA200. Our target is at the top of the S2 Zone (TP = 15,800).
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TSLA Caught in Vortex of Conflicting TechnicalsPrimary Chart : TSLA's 2D Price Chart with .618 Fibonacci Retracement of Decline from All-Time High to Jan. 2023 Low and Various Degrees of Trend Represented by Conflicting Channels
SUMMARY:
1. TSLA's technicals are unclear and conflicting. The trend from the 2021 all-time high remains downward until broken. The trend from the January 2023 low remains upward but somewhat choppy and unstable. The trend from the July 2023 high remains choppy and downward until broken.
2. Institutional buying into year end may be supportive of prices, allowing short-term traders to buy dips to well-defined support / risk levels into early January 2024. Until more structural change occurs providing more clarity, it's difficult to have confidence in any trend other than the shortest ones.
3. Once the next multi-month trend move occurs, some may look back and say that its was obvious and inevitable, offering post hoc arguments based on data that can be manipulated to support opposite outcomes. But today, unambiguous data pointing to a clear directional outcome is lacking (especially on intermediate and longer-term time frames).
4. Severely inverted yield curves suggest pressure on the economy and equity markets in the coming year or two. But as the lessons of the dot-com crash have taught us, markets can rally violently into their own recessionary demise.
The downward channel from the July 18, 2023, swing high has been the only pattern working lately. The last decline in late October 2023 was bought, and this dip fell to support at the downward sloping parallel channel. Bulls may see this as a bull flag, and it might be, but a breakout above the downward-sloping trendline from TSLA's all-time high stands in the way of a potential flag-breakout. Further, bears may reasonably see the channel from January 2023 as a bear flag within the larger downtrend from 2021. These conflicting technicals are worth watching over the coming weeks and months for resolution.
Supplementary Chart A
If one zooms out on TSLA's chart and looks at the past two years of price action, price action has largely been sideways in a trading range. This is despite the vicious decline starting November 2021 and lasting for over a year as well as the violent rallies and choppy uptrend in 2023. This sideways range seems to contain both the bear and bull markets of 2021-2023. Trading ranges are also known as chop, which is why trends on all time frames have likely been less predictable, disappointing many traders and investors during this time unless they have major equity cushions from many years ago or trade only the shorter time frames.
Supplementary Chart B
Because the larger degree trends over a two-year to three-year period has been primarily sideways, the trends within it have been less reliable and more likely to chop up TSLA investors.
Anchored VWAPs shown below also confirm this analysis of choppy, sideways action that is less predictable overall. Over the past year, notice all the failed breakouts above and below the key VWAPs anchored to major turning points. There are many.
Supplementary Chart C
Supplementary Chart D
Supplementary Chart D shows how the moving averages also are tangled, messy and sideways, presenting conflicting signals.
In conclusion, TSLA's technical charts remain conflicted and unclear. Many disciplined traders or investors with a short-term to intermediate-term time frame may wish to define risk clearly and keep losses small or else stay away. The Primary Chart reveals just how challenging TSLA's price action is for trend traders and investors. A downtrend from TSLA's all-time high remains unbroken as the downward sloping parallel channel shows. An uptrend from TSLA's January 2023 low also remains relatively stable despite the volatility seen this year. And a 4-month downtrend channel has been in play since July 2023. Any one of these technical trendlines could break one way or the other, but as of Thanksgiving, none have been broken and these data points remain unavailable for market participants wanting long or short exposure to TSLA.
What should traders and investors do? Some may vent the useless nature of a post that says a stock can go up, down or sideways on intermediate to long-term time frames. Others may see that TSLA doesn't have a clear directional play except on the shortest time frames, which is based on the currently available data. So perhaps wait patiently for more data and simply do nothing—the hardest thing for fidgety trader and DIY investor types, right? Those sitting on a large equity cushion may wish to tighten stops a bit to $200 (assuming their entries are much lower). Those with no position may want to just wait for more clarity.
Short-term traders who believe institutional flows into year end will buoy markets broadly and lead to higher prices into year end (and first week of January 2024) may wish to keep an eye on critical support at $200-$220 evidenced by the green VWAP anchored to October 2023 lows as shown on the Primary Chart. If this author were to have a bias, it would lean in this direction into year end and early January 2024, but it's a weak bias that can't be strongly held.
Such a thesis, like any other trading viewpoint, isn't guaranteed at all even though it may have a reasonable probability of being correct. This is why a stop (risk level) is needed. Upside targets in such a scenario would require a decisive move above the .618 Fibonacci retracement level and for that level to hold first. It's possible that the move off October 2023 lows could be consolidated first, where bullish TSLA traders may watch $200-$220 support levels. If a dip were to create a better entry for traders into year end, then upside targets might be considered as follows:
Conservative: $250-$255
Aggressive: $275-$280
Extremely Aggressive: $300-$310
As always, risk should be well managed so that the reward / risk ratio remains higher and the losses kept small. And keep in mind that TSLA-related news catalysts, including the ones from this past week, may have a tendency to yank price around and create formidable volatility.
________________________________________
Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed.
Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ Post Cup & Handle rally in motion. There'll be pullbacks.Nasdaq (NDX) has completed a giant Cup & Handle pattern and since the late October 2023 bottom, it has started the post Handle rally. This rally historically tends to be a very long-term one but with its fair share of corrections to at least the 1W MA50 (blue trend-line).
As you know 2022 was the year of the Inflation Crisis (left side of the Cup) while 2023 was its recovery (right side of Cup). Going back to the 2 most recent Bear Cycles, the 2008 Housing Crisis and 2002 Dotcom Crisis, we can observe similar Cup & Handle patterns, with identical 1W RSI sequences (oversold on their bottom and starting a Channel Down when the Handle begins).
The rally that followed after the Handle in 2011 and 2005 started another pull-back to the 1W MA50 (ellipse) just a few months after when the 1W RSI hit the top of its Channel Down. The chart shows that we might be in a similar situation right now. As a result, long-term investors may seek an additional buy entry as close to the 1W MA50 as possible like the late October bottom.
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💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
US100 ENTRIES FOR SHORT,Longs All Trap Zones for 5th Jan.2023This analysis is only for my honorable followers.
Click on the chart above
and study it closely, before taking any trade today: Ofcourse if you want to win.
I will buy if these conditions hit. if one of them do not hit, the bulls will get trapped hard
30 min close above 16425
US DATA TODAY VERY STRONG for nasdaq,gold, etc
but negative for the U DOLLAR
and if retracment after 30 minute closing
firm above 16425
My first target will be 16820
Here I will solve out my short hedge that I have opened
at 16853, and take Profit. But I will add more longs too,
and all longs that are active,but hedged will run along
SELL CONDITIONS: I would ell US100 ONLY and ONLY, if these conditions met. Otherwise the downward move will be a bear trap
16275: I would open a short , below this price only
if:
1. it reache 16244 or 16223
2.I will wait for a pullback to 16275
3. if it cannot break above that level,
t hen I would open the short.
Profit levels are as lower mentioned.
At 15939 we have 0,382 Fibonacci of Hourly and higher
Time frame(that is very strong support level no. 2)
TRAP ZONE 1
THE OPEN PRICE TODAY
is below yesterdays range, but
it is not rejected
tHIS IS AN INDICATION THAT the market is
accepting the lower price, and the sentiment ha not been changed
Both bulls and bear will get trapped very often in this range
16356-16416
TRAP ZONE
BULLS got trapped
in this zone twice this week
I will AVOID TO ENTER THIS ZONE AND
GETTING TRAPPED
BETTER: I WILL WAIT
If You are Gold Digger and speculate
to take some pips
your Risk Reward ratio will be high(Higher RISK THAN REWARD)
As at this point the market quickly changes sentiments
Follow the price The trend is your friendCut losse quickly, Let the profits run. Dont predict the market. Intelligent traders follow these principals only.
Nsadaq Bullish, Breakthrough only if Dollar and Bonds bearishNASDAQ TREN CHANGE
52W BULLISH49-51W BULLIH
30W BULLISH
1-20W BULLIH
Also complete green signs on lower Timefame.
CPI DATA far below expectations, that dropped US Dollar and Bonds down, while pushing up NDX
Core CPI m/m
0.2%
0.3%
0.3%
USD
CPI m/m
0.0%
0.1%
0.4%
USD
CPI y/y
3.2%
3.3%
3.7%
The inking Dollar Periode is starting now, DXY dropped -1% while the treasuies follwed
The gap at 13200 is still active, but with changing fundamental data, now my ia is ,,BULLISH,, again, also other Indices following NDX.
RTY 52W still beaish, but it might change soon.
The 25 Strongest NDX Shares, based on their weight, broke all trends up, that is additional Vitamin BOOST for Nadaq. The End year ralley can begin.
Tomorrow on Nov. 15th 2023 we are looking and waiting for Core PPI m/m
Empire State Manufacturing Index
PPI m/m
Retail Sales m/m
If these data are below expectations, or majority of them, then NDX will soon reach the next level higher targeting 16000
16050 16150 16250 ...16772 ,before the rally to 17000 begins
Upper gap is at 15850-15950.
If the data are mixed or stronger, then we may have a fall back to 15794 15695 15500 15390
It epend on how strong the data will be this week, before the next week starts
Ue always Stops, to protect your capital.
Good Luck
U.S Equity Index’s Overview – A Repeating PatternU.S Equity Index’s Overview – A Repeating Pattern
The Bull Thesis – Ascending Triangles
The 200 day (blue line on each chart) is squeezing price up towards each red resistance line making each chart look like an ascending triangle (evident on every chart). With the 200 day as underside support for price and the 200 day sloping upwards, things remain positive.
The Bear Caution – Throw overs, Transportation Lag and the Hidden Wedge
We need to be aware and cautious of a throw over top on each chart which is always a possibility. Price on each chart would need to fall back below the red support line (pricing having only been thrown over the red line to come back down again).
The DJ:DJT – Transportation (Chart 1) is lagging behind all the other charts and has not taken out its Nov 2021 or Jul 2023 highs. This relative weakness in Transportation is worrying as this index offers an early indication of potentially less manufacturing and goods being transported, with this chart lagging and failing to take out its highs, it could be an early indication of a more pronounced slowdown in the economy. This chart we need to keep a very close eye on. If DJT fails to rise above its red line and loses the 200 Day, this could be a very bad signal.
We also need to be aware of how one important chart is showing a rising wedge pattern (Chart 3 – Major Market Index TVC:XMI ). This old school chart is watched by the OG traders and investors as a more general market chart. Lets keep an eye on the upper diagonal on the rising wedge for resistance on this one. A rejection here could be something of an early warning sign and obviously losing the red support line would confirm this.
Charts 4 - 6
4. S&P 500 SP:SPX
5. NASDAQ NASDAQ:NDX &
6. US Small Cap 3000 TVC:RUA
All these charts appear to be about to break into all time highs, however they are slightly lagging the Dow Jones Industrials TVC:DJI and the Major Market Index TVC:XMI which have broken all time highs. In the Charts 4 - 6 break out above their red lines (above recent all time highs), this could be another confirmation signal of bullish momentum. Obviously a rejection at this level does not bode well.
SUMMARY
In this hard to navigate market environment we need to pay attention to DJT (Chart 1) and XMI (Chart3) as they provide clear boundaries that we can watch for hidden bear signal warnings. On the contrary, in the even these charts and charts 4 - 6 breach their respective resistance levels mentioned above we can be assured that the wind is at out back in this currently confusingly bullish market.
If you like this overview please let me know and I will complete similar overviews for other markets and indices.
Thanks for reading
PUKA
7 Dimension Trade idea For Nasdaq 😇 7 Dimension Analysis
Time Frame: H4
1️⃣ Swing Structure: Bullish
🟢 Structure Behavior: Break of Structure (BoS)
🟢 Swing Move: Corrective move, indicating a Point of Interest (POI) for potential reversal. Vigilance is required for a bullish reaction at this level.
🟢 Inducement: Not done yet; waiting for a proper internal bullish BoS.
🟢 Internal Structure: Currently bearish, anticipating a shift with a bullish BoS.
🟢 Decisional Order Block: About to be mitigated.
🟢 Demand Area: Identified via FVG, indicating a discounted area.
🟢 Time Frame Confluence: Daily and H4
2️⃣ Pattern
🟢 CHART PATTERNS: No significant chart patterns observed.
🟢 CANDLE PATTERNS: Various signals: Record Session count, Shrinking long wick, Change in guard with engulfing, Doji, Momentum, Inside bar, and a blended combo suggesting a potential reversal.
3️⃣ Volume
🟢 Fixed Range: Bullish dominance in these areas.
🟢 Volume during Correction: Comparatively less during correction than in impulsive moves.
4️⃣ Momentum RSI
🟢 Zone: Extremely Bearish
🟢 Range Shift: Waiting for a potential shift from bearish to sideways. Two strong bullish divergences indicate weakness in bearish momentum.
🟢 Loud Moves: Conventional RSI theory suggests an extremely oversold market, possibly signaling a reversal.
🟢 Grandfather Father Son Entries: A robust 7-star buy signal.
5️⃣ Volatility Bollinger Bands
🟢 Price is already under the Middle band.
🟢 After a strong expansion, the market is moving into contraction, indicating a potential bullish sideways move.
🟢 Squeeze breakout awaited.
🟢 Walking on the band not yet.
6️⃣ Strength According to ROC
🟢 Values: Nasdaq shows the highest rate of bullish sentiment compared to all other indices.
7️⃣ Sentiment
Price action signals a clear long entry, but other dimensions like momentum and volatility tell a different story. Waiting for final volatility and momentum confirmation for a long position.
✔️ Entry Time Frame: H4
✅ Entry TF Structure: Bullish
☑️ Current Move: Corrective
✔ Support Resistance Base: FVG demand area
☑️ Candles Behavior: Bullish signals intact - RSC, Long wicks, Doji, Inside, Momentum.
☑️ FIB Trigger Event: Occurred
☑️ Trend Line Breakout: Breached but not confirmed.
💡 Decision: It's prudent to wait until the price provides a proper internal structure breakout. Once a bullish BoS is confirmed, consider a buy. I will update entry, take profit, and stop levels when triggered.
🚀 Entry:
✋ Stop Loss:
🎯 Take Profit: 2nd Exit if Internal Structure changes, also Exit 3rd Trendline Breakout, FOMO.
😊 Risk to Reward Ratio:
🕛 Expected Duration:
SUMMARY: The analysis suggests a potential bullish reversal but advises caution until the price demonstrates a clear internal structure breakout. Various signals indicate a reversal, and a detailed plan will be updated upon market confirmation.
SPX Cash AnalysisWe're now getting a confirming signal that last week's top was at least a local top. Primary analysis (in Blue) however, because we did not make a new high in the SPX like the DJIA and NDX, the black (B) wave count is a valid EWT count. I do not favor the black pathway mainly due to our MACD signal, the other major indices hitting new highs, and lastly the price action I have as of today.
Best to all,
Chris
$DJI now in short term downtrend, NDX, SPX & RUT already wereLooks like the TVC:DJI is in a short term downtrend.
NASDAQ:NDX SP:SPX & TVC:RUT all are in short term down trends which begin couple days or so ago.
TVC:VIX is at higher end of the recent pattern and it keeps poking it.
*(TOOK THIS FROM ANOTHER POST
Remember, the more something is poked the weaker it becomes
Picture paper holding a marble
Poke with a needle
Poke enough & that marble falls
Same works to the upside)*
The TVC:TNX or10 yr #yield looks to be setting up decently on the 4hr intraday.
#stocks
IXIC - Higher High Double Top Contained within this upward channel a double top could form at the top of this channel, however with it being a higher high we can assume further bullish movement after the double top proceeds.
A higher high suggests there is more steam left in the run. Which evidently there is a lot of steam for the NASDAQ.
NDX Nasdaq100 Fell 8.60% After the Last U.S. Credit Downgradeitch Ratings downgraded the US debt rating on Tuesday, moving it from the highest AAA rating to AA+, citing concerns about "a steady deterioration in standards of governance."
This downgrade happened following last-minute negotiations among lawmakers to reach a debt ceiling deal earlier this year, raising the risk of the nation's first default.
In the past, a similar credit downgrade had a significant impact on the NDX, which fell 8.60% in just two weeks. Back in August 5, 2011, Standard & Poor's, one of the major credit rating firms, downgraded U.S. debt after another major debt ceiling battle.
Jim Reid, a strategist at Deutsche Bank, pointed out that while the news of Standard & Poor's being the first to downgrade 12 years ago was substantial, investors had already adjusted their perceptions of the world's most important bond market, recognizing that it was no longer a pure AAA. Nonetheless, Fitch's recent decision to downgrade is still significant.
In the current scenario, the U.S. 10-year Treasury yield has risen to 4.15%, reaching its highest level since November 2022.
As for the price target for this year, it remains at $16650, as shown in the chart below:
Looking forward to read your opinion about it!
QQQ Nasdaq 100 ETF Price Prediction for 2024This was my price prediction for QQQ in 2023. I was bullish, but not enough:
Considerations about 2024:
In the July 2023 meeting, the FOMC chose to raise interest rates to a range of 5.25%–5.50%, marking the 11th rate hike in the current cycle aimed at mitigating heightened inflation. The prevailing consensus among market experts hints at a potential shift in strategy, suggesting that the Fed might commence rate cuts later in 2024 as inflation gradually aligns with the Fed's 2% target. Statistically, historical data indicates that approximately 11 months after the cessation of interest rate increases, a recession tends to manifest. This pattern places us around June 2024, aligning with my prediction of a dip in the QQQ to approximately $370.
Given that 2024 is an election year, there's an additional layer of complexity in predicting market behavior. Despite the anticipated mid-year dip, my inclination is that the QQQ will conclude the year on a bullish note. This optimistic outlook hints at the onset of a 3-5 year AI bubble cycle, with the QQQ boasting a year-end price target of $460.
The integration of artificial intelligence into various sectors is expected to catalyze market growth and innovation, propelling the QQQ to new heights by the close of 2024.
TARGET REACHED for Nasdaq at 16,956 now what?Nasdaq finally reached our first target of 16,956.
The price then started off on a bad note in 2024.
The USD is starting to strengthen again, which brings down the general markets.
So right now, there is no definitive price analysis for the Nasdaq.
We can only expect a form of consolidation to create the next pattern before it chooses a direction.
SO right now we are Neutral with a slight short term bearish tinge to it.