still in my NDX short via SQQQ . PA has fallen from the ascending triangle and now its only a matter of when IMO. I think once we reopen the economy in June then it will be time for the bulls to sell as all the online order hype will be ending and store's will start reopening.
The bullish count could be slammed if the S&P follows its red path. The relationship between NDX and SPX has been a bit strange since the bottom with NDX seemingly leading the SPX. In case of a systemic risk or market event, everything follows the VIX and SPX so beware.
Now here is the big story: looks like NDX is not synchronized with SPX... As mentioned in the S&P's technical analysis section of our Discord, we have no alternation within this weak impulse (W3 < 1.618*W1) and prices channel well.
NASDAQ looking pretty over extended Fam. Time for a fat juicy short!
Nasdaq 100 Index (2H) / Bullish & Bearish Elliott Wave Counts
Nasdaq Index (1H) / Bullish & Bearish
Nasdaq 100 Futures (4H) / Bullish & Bearish Counts
Nasdaq 100 Futures (4H) / Bullish & Bearish
PA is not ideal for an impulse. We are struggling on the support of the channel. Exciting times ahead though.
NDX still contained between parellel lines = corrective structure
The Nasdaq 100 Is Trying To Pump Back Before The Open
Nasdaq 100 Futures Still Holding The Channel. Little 1212 down?
NDX topped at the intersection of the 1.272 extension at the 0.786 fib time (of the duration of blue subminuette A).
We are drifting into the inferior part of the channel. As you can see, prices are well contained within parallel lines since the bottom and have been flirting all the way up around the ML. This is not bullish price action. Within an impulse, the base channel is usually breached to the upside. We may have topped at the 1:1 extension in SPX and at the 1.272 in NDX....
NDX Pushing in our Sell Short Box
Hey, this one is pretty simple, can be retesting the green line number 1, there will reach a darn good resistance, if breaks and retest should reach near 6395, if go even lower we may see NDX go straight to line 2 like a ball droping out of your hand. Just kidding, but there is a possibility of reaching line 2. So stay sharp seeing these levels. If we have good...
"""this is not financial advice"""" We are in very difficult time, the economy is at risk due to the lockdown and the huge unemployment numbers. The administration trying to motivate the market but bears are already in control. No one knows the bottom but the coming days we may see horrible horrible red charts. the next stop for nasdaq is 6570 if we break it we...