NDX Daily Bearish SignalsWe have a downtrend within a downtrend, the inception of bearish signals.
The NDX printed a shooting star candlestick yesterday as a rejection from EMA10.
The RSI has gone bearish and the QStick indicator as well.
The feeling is that it should be mild yet, we are seeing a strong crash ahead.
Maybe even a 10 percent drop in a matter of days.
Just hoping that we are wrong.
Namaste.
Ndxshort
S&P500 For the first time since the COVID sell off the SP:SPX closed the WEEK below the 200 SMA at 3583 points, for the previous three weeks the index was trying to test the support of the 200 SMA but after the heavy selling pressure in the other indexes TVC:DJI NASDAQ:IXIC and NASDAQ:NDX .
SP:SPX has broken the support to the downside and most of the stocks are closing at the lowest prices after breaking most of the medium and long-term supports. on the other hand, the indicators are confirming the same view as the RSI is below its moving average at 36 level, also the stochastic is still giving sell and weakness signals.
A small rebound is expected as a correction in the very short term closing the long positions, and opening short positions are recommended.
NASDAQ Collapse - Covid Lows in PlayThe Nasdaq looks to be failing, after this week's short squeeze.
I would be careful with this thing. Lots of wild moves over the last 24 hours, with the primary signal being cryptocurrency popping up. These moves will trap a lot of traders.
Be careful out there!
God Bless!
Luke 5:11
#NASDAQ100 #NDX Elliott 5th Corrective wave is on the play4 corrective waves succesfully done and now proceed to 5th wave. Probable targets are given on the chart. This was the most important part, the technical analysis. Neither global conditions (EU Energy crysis, war threats, inflation and covid rise), neither astrologic conditions (Jupiter retro will not leave 23 - 28th Oct) doesn' t allow a real bounce. And #dollar index $DXY is growing and EUR is weakening. It' s time be most careful. After the 5th wave dip, an ABC bounce is expected. Not financial advice. DYOR.
Short Squeeze is over in price scaleIt seems the condition of market is peculiar. Invert of yield curve and data from CALL/PUT ratio signal bearish state to the market. furthermore Technically it was the first leg of downtrend. There will be time squeeze for positions to bring back balance to the market.
Last month of nasdaq correction in July The triangle that I included in the previous analysis (contraction triangle) was replaced by a neutral reverse triangle, which was more logical because the post-pattern movement of a contraction triangle should have been a sharp drop, which is really unlikely to happen here. This neutral triangle is weaker and is more suitable for forming the last branch of the correction.
NDX 100 WARNING: ABC wave C may reach 10500 or even 9500Since last week I have been warning that there will be a short oversold rally after FED testimonies in Congress & Senate but the worst is not yet over despite retailers rushing to buy the dip & exchanges trying very hard to keep BTC above the impt 20k in order to prevent mass selling.
NDX Nasdaq 100 has been making a downchannel since it turned down after completing wave B @15265. The most probable support is at 10500, which is a 36% crash from ATH. 10500 (double my yellow box) is also a confluence of the 0.618 retracement from pandemic low to ATH & the weekly wma200 level. If 10500 fails then the pre-pandemic top @9500 will be the maximum pain, which is a 42% drop from ATH of 16764.
After ABC ends, the target levels for take profit will be 12k & 13k respectively indicated by blue arrows.
Not trading advice
Nasdaq100
The Nasdaq100 NASDAQ:NDX couldn’t hold above the support levels mentioned in our last report at 11376 points and opened the week with a gap below the significant 50%Fib. Level to open at 11472 points signaling that the bears are controlling the market backed by the bad news of the economy, then bears confirmed their control after the FED rate hike of 0.75 % last Wednesday to raise the interest rate to 1.75% and that will be reflected and affecting the earning results of the companies next month, breaking the 200EMA this week and closing below this level at 11265 points is the first confirmation of beginning a bear market on the medium term and may be the beginning of a downtrend on longer term.
The NASDAQ:NDX may witness a rebound to test the level of 11376 again and failing to penetrate this level or forming a lower high before even testing this level will be the second bearish signal for the index and that will lead the NASDAQ:NDX to more losses and we may witness panic selloff sessions, especially if the NASDAQ:NDX break the 10600 points level which is the most important and significant level on the medium term.
Investors with long positions are advised to use a disciplined risk management tools and activate the stop loss with all trades firmly
Investors with short positions are advised to use just 30% of their cash and use the trailing stop and the protective stop strategy
NASDAQ:NDX TVC:NDQ NASDAQ:QQQ NASDAQ:TQQQ AMEX:PSQ NASDAQ:SQQQ AMEX:SPY SP:SPX AMEX:SPXS TVC:DJI AMEX:SPY AMEX:DIA AMEX:DXD AMEX:DOG NASDAQ:IXIC
Combining 1D & 2D MACD Cross to find reliable positionsDASHED LINES:
When the 12 EMA crosses above the 26 EMA on the 1D MACD we get a reliable signal that the price will rise (will be higher by the next alert).
SOLID LINES:
When the same occurs on the 2D MACD we get confirmation.
And vice versa when the 12 EMAs cross below the 26 EMAs, the price will fall (will be lower by the next alert).
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As you can see, this has proven to be consistently reliable, with only one failed signal going as far back as the chart shows.
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To trade conservatively, close any short or long positions when alerted by the 1D MACD.
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The current open position is short as per the solid Red Line yesterday.
Going off the pattern length, candles should at least remain red for the next six days on the 3D.
Disclaimer: Don’t take my advice.
This chart was made as auxiliary support for BTCUSD falling.
Has BTCUSD Already Told Us How Nasdaq Will Move? With similar double bottoms along the 200MA in both cases
A raging bull run in both cases (~580%) however BTC's rise was a lot more rapid.
As BTCUSD finishes its second top formation the NDX enters its second.
This could be interpreted as BTC being "ahead" of the Nasdaq.
NDX JPMorgan: economic hurricane coming our way!Jamie Dimon, the JPMorgan Chase CEO:
"Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed can handle this." "That hurricane is right out there down the road coming our way." "We just don't know if it's a minor one or Superstorm Sandy. You better brace yourself."
Jamie Dimon is predicting an economic "hurricane" caused by rising inflation , interest rate hikes and the war in Ukraine.
I have 2 scenarios: the most optimistic is that NDX formed and inverse head and shoulders chart pattern and it will close the year at the same level that it started it, around $16650.
And the worst case scenario is if Jamie Diamon is right and we are going lower after this bounce to the resistance.
In this case, the first strong support is $9750.
I see that it go lower only if oil stays higher than $140 - 150 for this year, then this is the strongest sign of a recession or if China invades Taiwan.
Looking forward to read your opinion about it.
Nas100 is facing strong resistanceIn my previous Nas100 analysis I said that the index can rise and test important 13k zone resistance.
On Monday Nas100 reached that zone and yesterday it started to drop.
The trend for this index is still strongly bearish and I expect a new leg down as long as 13k is intact.
Sell rallies towards that zone can be a good strategy and bears can target the previous low for their short trades