NQTo confirm the failure of the pattern, use pullbacks or the failure of an important level to take a position
CME_MINI:NQ1!
Nq100
NQ perfect hit of the ideal target!Got this again right when people were doubting last week of this happening with permabull calls!
Im all out of short and long here, ideally we re-test 12650-700 and maybe even 13300+
Also long with lotto calls.
NQ perfect hit of the second targetOne more target to go, will be great to have it all next week to buy longs from there
SPX/SP500/SPY bull or bear?Wide look - 1994 - 2022 massive broadenings that can range 35-50% drawdowns. A widening in price indicating volatility triggered by macro and micro events. This year's high to low 25% or 1182 points on the SP500.
On the daily inside this 8 month broadening pattern - while we've seen rally's and flushes, all it did was build up this pattern.
Zero volume analysis here of which move was real which wasn't, just look at this 30 year fib channel and how price moved by forming massive consolidations and reactions on each tier.
Daily -
Tight spot leading into this week. For the bulls - a breakout of this formation with a pullback retest could indicate a sentiment change.
While strong rally into resistance there is also a potential bearish butterfly harmonic at play for the bears. A rejection at resistance would be validating towards the harmonic. No confirmation of a reversal point yet simply because we need more candles to see and nothing is certain until a candle closes.
If butterfly valid - retrace to a 0.5 (3982) is first thing to look for. Could bounce could see continuation lower and ultimately the 1.618 (3216) measured move assuming it retraces through 1.0 (3639)
If breakout, retest and hold - would be looking at some weekly supply reactions starting at 4541 and then above areas towards previous ATH.
Watch it day by day as there's no way to guess what actually happens when you hit demand or supply/ support or resistance. There will be buyers/sellers waiting there but it's dependent in the end if one side overcomes the other and pushes it through the zone.
Also note - overall trend above the 200ma and candle on the 40ma
NQ first target (orange line) got hit2 more targets to go, ideal target is at 12300 or so
Any bounce is the short now
Have a good weekend
NQ is in the wedge, showing lower into the 29thIm shorting this move today and will hold into the 29th, then long for the window dressing rally, ideally we top on or right after the Labour Day
on 1-3min it's a clear bear flagging, next pump will get me short with a stop above the highs
NQ into the resistance zoneOn the road all day, quick chart update from my phone.
Im flat at the moment, will short one more if it back to 13009-13, tight stop.
We didn’t get a follow through at night, but we did make a new low, I covered 50% there and the rest was stopped at night.
Now watching for lower low or double bottom. Above can be a sign of the temp low in place
$NQ1! - Get Ready!$NQ1! - Get Ready!
It's brewing a break to either direction, remember we do have Powell on Friday (Jackson Hole)
TJ
NAZDAQThe Nasdaq index (the average of American technology companies), which has recently had a movement correlation with Bitcoin and the crypto market, has weakened after breaking its static and dynamic resistance, and due to the fact that it seems to have broken the resistance, it has made a pullback, but the intensity of this pullback was high. and increases the probability of returning below the support range.
NQ zoomed outIf this really goes, then 12700 will be a quick stop and it can fell very much all the way to 12200-60
There is an interesting trend line cross support at 12200 level, something to watch and visible on my chart
Support numbers below
12700
12450-60
12200-60
Needs to open tomorrow above today's highs to make it turned up and see a high on the 25th instead of a low.
3 orange lines are my support targets
ATR bullish on stocksTodays ATR continues to ignore (not confirm) a downward move in equities.
Additionally, todays index/'VIX' move is best described as a sideways shift of the daily range.
NQ didnt get a follow through at night, stopped half wayI want to point out this bear flag, both on the ES and the NQ, perfect fib alignment into 12703-20 zone.
Tomorrow is a panic cycle day, will it be a gap down and reversal or we just break down?
My timing for the low is still the 25th and possibly 29th
Will do ES update next
Market won't crash when everybody is prepared for itMarket won't crash when everybody is prepared for it.
my first target is Nasdaq to 14000.
No one expects another gap down tomorrow...It seems everyone is bullish now and desperate for a move up.
There is a chance of seeing the whole move down to 12700-20 by tomorrow tomorrow am!
I will be shorting any bounce with a tight stop and going long at 12700-20 for a good size move up, maybe even to new highs.
The R/R is much better at 12700-20 then at this point.
Have a good night
NQ is following the script, such a good boy!NQ main target is 12700-20 as per my last update.
Its not as far any more isnt it
Notes from the last night update:
NQ:
- Tomorrow's important levels to hold at 13100 and especially 13065
- I'm looking for the NQ to hit 12700 zone by the 25-26th on Aug and then a last push to 13900 by Sep 2-6th to finish this move up. This is a bullish pattern I'm watching
- There is also a possibility of a lower high of 13400-13450 off 12700 low. This is a bearish scenario going into Sep.
NQ has a patheway to 12700 and to 13900 after thatIm tracking the pathway of the NQ to hit 12700 zone by the 25-26th on Aug for a last ideal push to 13900 to finish this move up.
There is also a possibility of a lower high of 13400-13450, but I will update on what I see after we hit the ideal low
Tomorrow's important levels to hold at 13100 and especially 13065
NQ opens into the target zoneVery important to hold this target zone, as I do expect the temp low to come tomorrow, small rally up and continue lower into 25-26th.
Then high on the 2nd, where the bulls will get trapped!
13120NQ must hold on hourly closing level
$NQ1! - What's next?NQ1! - What's next?
It's time to for PB as I stated at start of the week, imo it seemed over extended and I looking a LT positioning with NQ & ES at this moment of time 13250 for NQ is the next support areas. However, if we break above 13 and half areas, I will be re-thinking the idea of execution. We have DXY heading higher, and perhaps re-test highs on DXY. Overall, the key important information will be Jackson Hole.
TJ
USTECH100 * SHORTIt's just a personal opinion.
Please limit yourself to your knowledge.
Thank You
H N
NQ main support for tomorrow 13273 and 13210Im looking for a good size gap down tomorrow to mark the top, otherwise we can still press higher .
The low should come either on the 22 or 26th. I personally like second date as it would be a perfect long setup going into the long weekend bull trap.
Ideally next high (if we topped) is a lower high. Also will be looking at turning week, if we close lower then next one, then the low might come on the week 29th and high before Sep OPEX.
Since cycles are inverted a lot (usually the case in Aug), I have no clear picture of the maj top being in place or when it comes. I got 2 dates, early Sep or Sep OPEX week.
Im short going into the next week.
Will start looking at swing short position only after we break 13115
NQ - very important to hold am high!Holding am high will get us eventually to 13205, ideally tomorrow, then another good size bounce on Thursday.
