NASDAQ broke above the 1W MA100 after a year!Nasdaq (NDX) is extending the bullish trend inside the short-term Channel Up as mentioned on are recent idea two weeks ago (see below):
Today the index reached a very important benchmark as it broke above the 1W MA100 (green trend-line) for the first time in more than 1 year (since the 1W candle of April 25 2022). This was a critical Resistance as it rejected the uptrend back on the week of August 15 2022. With the 1D MA50 (blue trend-line) supporting and the Channel Up that started in December intact, we see a Resistance test of the 13730 High as inevitable, so there is your short-term target if you are looking for one.
On the longer term, since the February 02 Higher Highs trend-line broke, the Channel Up can target the November 15 2022 Higher Highs trend-line. A typical +11% rally within this Channel Up can easily target this trend-line, so now we are setting a 14100 long-term target on Nasdaq. Especially if the 1D RSI breaks above its own Lower Highs trend-line.
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NASDAQ 100 E-MINI FUTURES
day trade market condition may 16, 2023this is may 16, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
notice, as long as the markets above the daily chart VWAP from the Volume Profile by QTECHtrading, everything is like to be higher
NQ1! SHORT FROM RESISTANCE
Hello,Friends!
The BB upper band is nearby so NQ1! is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 13279.50.
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NQ UpdateMFI touching oversold on the 3hr, ES and RTY aren;t there yet. This usually means we get a tech only bounce, but watch out because the weekly MFI is overbought. Don;t get too greedy here near the top.
#NASDAQ Can Go Higher $NQ $NDX On The Higher Time FramesTraders, We have been bullish since the last quarter of 2022 on this market. NASDAQ now is reaching a point of a possible breakout. Short term it can go a down a bit but on this higher time frame, it is still forming a bigger W FCP Pattern which means that it is still on its target to reach higher levels.
Please note that the chart is Weekly timeframe.
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$QQQ When will the uptrend line break?NASDAQ:QQQ When will the uptrend line break?
sym·me·try
the quality of being made up of exactly similar parts facing each other or around an axis.
"this series has a line of symmetry through its center"
similarity or exact correspondence between different things.
NQ Weekly UpdateNQ 3hr is about oversold, but the weekly is touching overbought. That is bad news....
I think we still get a bounce off of the short term chart, but then it might tank. Be careful.
Day Trade Market Condition may 15, 2023this is may 15, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
Combined US indexes - Where the spike up?IF you are getting a little frustrated, I am too... something is building up and meanwhile there is a lot of conflicting signals.
The week passed, and it appears to suggest the opposite now... a breakdown is more likely... 60/40 in favour of a breakdown, if I may quantify.
Set up the Breakout and Breakdown levels, and waiting for some real commitment.
Meanwhile, MACD histograms indicate a bearish divergence
VolDiv crossed down too.
Very simply... volatility coiling to spring, and if no break out soon, it will breakdown. Sounds a bit obvious, but watching it pan out is half the fun.
Enjoy!
When NAS weekly RSI is under 40, it tests the 100W or 200W emas We may have much further to fall, tho maybe not right away. Looking back at least 20 years, whenever NAS RSI has been 40 or less, it also tested 100W or 200W emas. Only one time it didn't, but came very close.
NAS Ending Diagonal Triangle Break It doesn't get more obvious than this. We're probably headed back to 12k at the very least on a corrective wave. Fed GDP forecasts are really all you need to see to know lots of rate hikes and taxes coming soon. It's halving every year, and that's an optimistic estimate. Don't wanna spook the market. fred.stlouisfed.org
NQ1! NAS100USD NASDAQ 2023 15 May WeekCME_MINI:NQ1!
Last week 1 trade done at short from rotation high, stopped out,
we will be looking at possible senarios below:
1) Breakout success: Price comes down on lower volume, finds support,
for a Test and Accept long. Nearest target is 13740.
2) Breakout Failure: Price rejected at higher prices, for a test and
reject short, back into rotation area.
Note: If you see higher lows being formed in the rotation area, this may
be followed by a successful break, and market will
attempt 13740. Draw your trendlines to observe.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
15186 13740 13350
12936 12130
Price Volume Analysis:
Weekly: No Demand narrower spread up bar close off high = Weakness
Daily: Higher bullish volume observed, close off high = weakness
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Have a profitable trading week.
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NQ UpdateNot sure if it holds this trend line or not, and not sure about gap direction Monday.
Regardless, MFI will go oversold probably before the market opens Monday, so watch out for that. Hopefully MFI starts cycling again so we can get some decent trading going on.
I'm long on shitcoin via OTM BITO calls for next week. BTC hit oversold on my chart last night
Day Trade Market Condition may 12, 2023this is may 12, 2023 levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
NQ is Bullish reaching 13500 mentioned on publish idea of May 01 2023 ; hoping a good Rally day ES break the 4190
NQ UpdateWasn't quite sure because MFI was heading up early premarket, but looks like NQ wants to sell off today, both RSI and MFI heading down. Don't recommend going long until MFI hits oversold.
Wouldn't surprise me if the 401k fund managers do some sector rotation, AAPL is basically at the top.
May 12, 2023 NQ LongEquity Indexes has returned to being bullish. This sentiment is likely to continue given that the markets have already digested the most potent economic data for the week (CPI).
Watch for 10:00am Consumer Sentiment. If the report produces a surprisingly lower than expected number, sentiment may shift in the short term.
- Trades taken using confirmation entires have a higher probability for sucess.
- Using an initial 1:1 target is recommended for reducing risk.
- Short-term income trade ideas are good for the day unless otherwise stated.
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