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
Nqshort
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 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 quick night updateI have sent a bigger update to those who are on my email list with an updated SPX chart, which I will post tomorrow after I see reaction of my main target.
NQ update for tomorrow:
- NQ Maj support is at 13510, break it below and retested will be a perfect short for a trip down to 13130-200, depending on the time of landing.
- NQ I have also a good fib confluence at 13866-98 and 930+- zone for a possible extension higher. If we hold 510-30, then I would be long for that final move up with a tight stop around 490 or so.
Enjoy!
NQ getting close to the target zone.Tomorrow is a day for the high, the day after is a turning day.
It can extend into 13806 and 13866-88. Want to see a good size pullback into the 26th and then possibly one more push into 14k zone.
200% extension off Jun lows is at 13866
Im short 2.5NQ as of close, will take profits if we get a good size pullback.
NQ not much to addNot much to add, didnt trade today, didnt miss much.
Im flat at the moment except few ES under the water shorts (I always have long term runners and only have 30MNQ going on the long side against 20MNQ short; no more long term ES, more on the short side, all long term holds, as Im fine to take a heat on some)
Will be shorting tomorrow am if we get any higher, will be short over the weekend.
It seems we will be a shallow pullback, the window for the low is 15-16th, should start moving on Monday if not tomorrow.
When we get a volatility, then I will be posting more. Not much volatility these days, no fun.
NQ has a better ABc structure then the SPXNQ went down into the upper trend channel into the close, fake breakout imo.
This move should be over tomorrow if it was not today. My turning day is 4th on SPX and DOW.
There are 2 targets I have on the downside and I favour second more then the first one.
- 12500
- 12075
The low should come on the 15-16th and one more rally into EOM or early Sep to finish the bigger B.
It can stretch into the 14000 zone and should top in between of 50 and 61.8 retracement and fall apart into the Oct low.
Im planning on shorting AH's or tomorrow am.
NQ almost hit my target zone, expect a test of the mid channelNQ almost hit my target zone, expect a test of the mid channel if not more.
I still day trade this, no swing positions, only ES from Fri.
All depends on how we will be closing today, might enter with either long or short for tomorrow
Tomorrow is a turning day, it can be a move in one direction.
VIX has a long signal, be careful if long indexes
NQ has a small H&S formation on smaller time frame.Markets didnt close bullish to my eyes, looking for some weakness on Monday, ideally good gap down
NQ has a small H&S formation on smaller time frame, ideal target is 11825.
Ideal target to hold next week is 11700.
Im short few contracts as of Fri close.
NQ is in no mans landNQ is riding the broken down trendline and the top of the channel, also its near the mid of the downtrend channel.
I have no good feeling of a direction at this point. Ideally we sell in am and then rally up again to top sometime tomorrow, targets are still 12100-20 and if above, then its bullish and it goes to 12400+
Volatility is going to start rising from the next week, so much biger moves are coming into mid of the month to 20th
NQ isnt looking good for the bulls hereResistance is very strong in this level, can stretch to 825 for a perfect touch.
11800 call from am got fulfilled, it's very close to it, I have shorted for a quick trade here, looking for a possible real move down off these highs, might not come till after the FOMC