Most probable scenario in the Next 2 weeks!You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
From the most to the least probable:
- Moving between Green and Red lines: Consolidation
- Crossing below Green line: more Correction
- Crossing above Red line: Bullish rally resume.
Dow Jones: Is the very close to cross below the support line!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
NASDAQ 100 CFD
Expecting a larger ABC CorrectionWhen looking at the daily time frame, the Nasdaq is trading at the top of a large resistance channel which has the potential to mark the end of wave 5.
It is possible to see wave 5 continue higher and this would be confirmed if the resistance at point (B) on the chart is broken.
I am expecting to see a larger corrective ABC pattern which has a target at the previous daily high around 15700. Should the resistance at point (B) not hold, this would mean that the larger ABC correction is not on the cards and that wave 5 on the daily time frame will continue to form.
Should the ADB pattern play out as I expect it to, I will be looking to build a long position from there.
Happy trading!
Linton
This information is not intended as advice.
NDX'S Tagging 78.10 on RSI since 2009, study shows 42% up58%down58 % Chance we go down btw 2%-17% as of today
42% Chance we go up btw 2% -12% as of today
Year Short effect Long effect
2010 17% down
2010 5% down 9% up
2011 3% down 6% up
2012 11% up
2012 13% Down
2014 2%Down 7% Up
2017 9% Up
2017 2% Up (Gave it back) 6% Up
2018 5% Up 12% Down
2019 11% Down
2019 12% Up
2020 14% Down
2021....... ..... "YET TO BE HISTORY"
7 DOWN VS. 5 UP
NQ1! NAS100USD 2021 NOV 08 WEEKNQ1!
NQ1! NAS100USD 2021 NOV 08 WEEK
Long on pull back worked well last week.
Narrower spread up bars and shortening thrust = weakness.
Pullback / rotation may be expected.
16236 need to hold for uptrend to be intact.
17070 16695
16449 16354
16236 16146
15937 15717
15503 15274
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Have a profitable trading week ahead.
NASDAQ vastly overbought on 1DSince my last long-term update on Nasdaq 25 days ago, the price accurately recovered from the September correction, and hit both of our targets:
Currently however the picture from a technical standpoint seems to be reversing again as the index is approaching the top (Higher Highs trend-line) of the 12 month Channel Up it has been trading on ever since September 2020.
The RSI in particular on the 1D time-frame is largely overbought and just a fraction away from the 80.000 Resistance which was last seen on the September 02 2020 market top. As you see on the chart that caused an immediate flash crash of more than -14%, with the index eventually finding support on the 1D MA100 (green trend-line). The 1D MA100 has been an accurate buy level within this Channel Up.
A repeat of this -14% correction, depending on where it strikes (I've put it at the top of the Channel Up), could even hit the 1D MA200 (orange trend-line), which is a level the price hasn't made contact with since April 13 2020! Naturally, the strong medium-term swing buyers are expected to be found first on the 1D MA100 again and the long-term target set on the 2.0 Fibonacci extension around 17700.
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NQ1! NAS100USD 2021 NOV 01 WEEKNQ1!
NQ1! NAS100USD 2021 NOV 01 WEEK
Short preference last week did not play out as market showed significant
strength.
Will not be chasing the high, rather will wait for pullback and support for
long entry.
Weekly: High volume up bar closing on high = strength.
Daily: High volume wide spread up bar closing on high = strength
H4: High volume up bar closing on high = strength
Entries will be based off price reactions at these levels
Short on Test & Reject | Long on Test & Accept
16419 15994
15864 15709
15524 15410
15274 15134
15001
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Have a profitable trading week ahead.
NASDAQ 4H Golden Cross aims at 16300 long-termMy most recent Nasdaq post was a buy signal on the 1D MA50:
Currently we have a buy continuation signal for the long-term towards the 1.5 Fibonacci extension (16300) with a potential short-term pull-back to add more longs on the 0.5 Fib retracement or the 1D MA100 (red trend-line). This is based on the May - June fractal whose pattern is so far following in great detail the current price action.
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NQ1! NAS100USD 2021 OCT 25 WEEKNQ1!
NQ1! NAS100USD 2021 OCT 25 WEEK
The downward moves showed more ease of movement. Caution if long and
keep stops tight. Preference to short if price test and reject at resistance.
Weekly: Lower volume up bar closing off high = weakness
Daily: High volume down bar, taking out low of 2 previous bar = weakness
H4: Market show signs of topping. Ultra high volume down bar closing off low
= Strength
Entries will be based off price reactions at these levels
Short on Test & Reject | Long on Test & Accept
14383 15273
14585 15524
15001 15708
15134
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Have a profitable trading week ahead.
NAS100 60m - Over-extended?Price currently testing resistance around $15,400 (resistance previously shown at this level on both the 25th August and 27th September 2021).
Bearish divergence as shown by increasing prices along with decreasing momentum (referring to the RSI)
With the 200 hour EMA currently as low as $14,999, NAS100 looks over-extended.
I believe NAS100 still has a long way up to go over the following months, however, depending on your trading style there could be a low risk short opportunity, or an opportunity to wait and buy the dip.
Invalidation: 15440/15460
TP1: 15098
TP2: 15012
TP3: 14964
SPX'S Elliot. What's ABC- WXY- WXYXXZ = Coffee Espresso shots !THE ONLY NOTICABLE DIFFERECNE IS THE CONNECTION WAVE "X" & "XX" IN WHICH THEY CAN
BE ANYTHIGN BUT AN EXPANDING TRIANGLE !!!
Double and Triple ZigZag Rules:
Double (DZ) and Triple (TZ) Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining Wave called an x Wave, and are corrective in nature. Doubles are not common, and Triples are rare. Zigzags, Double Zigzags and Triple Zigzags are also known as Zigzag family patterns, or 'Sharp' patterns. Double Zigzags are labeled w-x-y, while Triple Zigzags are labeled w-x-y-xx-z. Both these patterns are included in the list of rules and guidelines below. Only a Double Zigzag is illustrated below.
Wave W must be a Zigzag.
Wave C of W cannot be a failure.
Wave X can be any corrective pattern except an ET.
Wave X must be smaller than Wave W by price.
Wave X must retrace at least 20% of W by price.
The gross price movement of Wave X must be less then 3 times the price movement of Wave W.
Wave X must be no more than 5 times Wave W by time.
Wave Y must be a Zigzag
Wave Y must be greater than or equal to Wave X by price.
Back to back and double failures are not allowed.
Wave Y must be greater than 90% of Wave W by price, and Wave Y must be less than 5 times Wave W by price.
Wave Y must be no more than a factor of 5 times either Wave X or W in price or time.
Wave C of Y cannot be a failure.
Wave XX can be any corrective pattern except an ET.
Wave XX must be smaller than Wave Y by price.
Wave XX must retrace at least 20% of Y.
The gross price movement of Wave XX must be less than 3 times the gross movement of Wave W.
Wave Z must be a Zigzag
Wave Z must be greater than or equal to Wave XX by price.
Wave Z must be less than 5 times Wave Y by price, and must also be less than 5 times Wave W by price.
Wave Z must be no more than a 5 times either Waves XX, Y, X or W in both price and time.
Double and Triple ZigZag Guidelines:
The largest Wave in Wave W is usually less than Wave W by price.
Wave X is usually a Zigzag family pattern.
Wave X is usually less than 70% of Wave W by price.
Wave X will usually retrace at least 30% of Wave W.
Wave X is most likely to be a 38.2% retracement of Wave W.
Wave X is next most likely to be a 50% retracement of Wave W.
Wave X is next most likely to be a 61.8% retracement of Wave W.
The largest Wave in Wave X is usually less than 140% of Wave W by price.
The time taken by Wave X is usually between 61.8% and 161.8% of Wave 1.
Wave Y is next most likely to be equal to 61.8% or 161.8% of W by price.
Expect the time taken by Wave Y to be between 61.8% of Wave W and 161.8% of shortest of Wave W and X.
Wave XX is usually a Zigzag family pattern.
Wave XX is usually less than 70% of Wave Y by price.
Wave XX will usually retrace at least 30% of Wave Y.
Wave XX is most likely to be a 38.2% retracement of Wave Y.
Wave XX is next most likely to be a 50% retracement of Wave Y.
Wave XX is next most likely to be a 61.8% retracement of Wave Y.
The largest Wave within Wave XX is usually less than 140% of Wave Y by price.
Wave Z is most likely to be about equal to Wave Y by price.
Wave Z is next most likely to be about equal to 61.8% or 161.8% of Wave Y.
The largest Wave in Wave Z is usually less than Wave Y by price.
Nasdaq100 will continue to rise and the next target is 15400Traders, Nas100 has crossed above the minor falling trendline, my first predictions came true. My expectation this time is it will continue to rise targeting 15400 to print a new High as we also see it has already printed HHs and HLs, I expect same moves to unfold.
Do not forget to explore my other ideas on this instrument that you may find beneficial by following the links below.
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Support and Resistance level for Major indexes!In these charts, you can see the most important support (green lines) and resistance (red lines) to watch in the coming days!
S&P 500 and NASDAQ 100 are trading at the resistance level, and Dow Jones and Russell 2000 are trading in a consolidation zone!
In my view, tomorrow is a very critical day because of the Retail Sale Data!
If Retail Sale Data, are lower than expected, today's gains will be washed away easily!
Keep it in mind..!
A weak recovery..!In the past 3 days, we see higher closes in the market and most tickers have finished the past 3 days greenish!
But looking at volume and compare it to the past week's average clearly shows the weakness on the buyer's side!
More neutral days could be the most probable scenario in the coming days!
AAPL, MSFT, GOOG, AMZN, and FB have seen higher prices at lower volumes..! which is not a bullish sign!
Waiting for better entries could be a good choice!
DISCLAIMER
I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.