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NASDAQ Bounce - how high??Someone gave me a heads up earlier this week that ChatGPT returned an answer to say that the market will tank on 15 March 2023. While I see it a little more different, I still keep an open mind as a lot can happen in a week (as we know in recent years). So first up, ChatGPT is an amazing quantum leap and it is one of those triggers that form a tangent in our development time line. To me, broadly this is like when Google met Siri/Alexa. That said, perhaps the 15 March is a collation of expectations. Nonetheless, looking into the technical picture for the NASDAQ futures, NQ1!, gives a technical collation of the happenings in the past weeks. Previously, a retracement target was marked out on the weekly chart (faded yellow ellipse). Since then, the NASDAQ made a lower high, and pulled back to the 50% Fibonaccie retracement level and support level about 11,800. And Friday clearly broke out of trend. So, now how? First, we look at the green and red dotted lines. These are the TDST levels that need to be broken to have a trend in force. According to the current TD Sequential, the NASDAQ is still in a bullish trend, and just finished a Buy Setup on Thursday, hence a clockwork bounce thereafter expected (and happened). Next, looking at the range support resistances, we see the green and red rectangles. Breaking out or down with a decisive close and technical alignment (MACD and VolDiv) confirms the trend. Taking into account the MACD and VolDiv, both are retracing, but are not yet bearish. So taken together, we can expect a bounce, which probably just started. Watching the strength of the bounce is critical, and the first check in point is about 12,500. A trend line connecting the last two highs also point to an approximate area at 12,500 (yellow ellipse). Noted, the MACD is weakening, and so is the shorter term VolDiv. So not yet crazy bullish. Overall, expecting a lower high (at this point). And going back to the "15 March", although long range analysis not shown here, it appears that May to Oct is a deeper down time. Will update on this in time...
CME_MINI:NQ1!
by Auguraltrader
Snowflake: Snowed Under ❄️Snowflake seems to be snowed under with work. The share has a great deal to do, but is currently delaying the anticipated ascent, gradually sagging towards the support at $110.27. There is a 33% chance that the course might drop below this mark, thus developing wave alt.2 in turquoise earlier already. However, we primarily expect it to climb above the resistance at $205.66 first to lodge the top of wave x in magenta before moving downwards again. Wave 2 in turquoise should then return Snowflake below $205.66 and carry it below the support at $110.27, introducing fresh upwards movement afterward.
NYSE:SNOW
by MarketIntel
1
Electronic Arts: Pushing the Right Buttons 🎮Electronic Arts has been pushing the right buttons and has made fine use of our pink trend channel, finishing waves (a) till (e) in violet. Indeed, the course has already made further progress, touching at the support at $109.27. Next, the share should gain even more downwards momentum and drop below this mark to complete wave B in turquoise. Afterwards, we expect Electronic Arts to climb above the resistance at $150.30 to conclude wave C in turquoise as well as wave (B) in red. Subsequently, the course should start a long journey to the south, falling back below $150.30 and below the supports at $109.27 and at $73.91. There, it should enter the green zone between $64.44 and $40.83 to finish wave 2 in green before turning upwards again.
NASDAQ:EA
by MarketIntel
Block: Playing Tag 🙃“You’re it!” Block calls, tapping on the magenta-colored zone and taking off. The share seems to be playing tag and has just caught the magenta-colored zone, finishing wave ii in magenta with one impulsive downwards spike. Next, the course should seek shelter above the resistance at $94.87, thus gaining further upwards momentum. However, there is a 32% chance for Block to lose its drive and to drop below the support at $69.16. In that case, the course should develop wave alt.ii in magenta first before heading southwards, abiding above the support at $51.16 along the way.
NYSE:XYZ
by MarketIntel
Intuit: Trust Your Gut 😊After it had started the ongoing descent so confidently at first, Intuit has been struggling in a sidewards movement. Now, the share should trust its gut and decide or rather intuit – pardon the pun! – to continue its journey to the south. We expect the course to drop below the support at $339.36, where it should complete wave B in green at about $303.29 before taking off again. Alternatively, Intuit could have already finished wave alt.B in green and thus climb above the resistance at $457.94 by now. We rate this alternative scenario with a probability of 38%.
NASDAQ:INTU
by MarketIntel
NFLX - Potential Short Setup Here we are looking at NFLX on the Daily TF… As you can see, Netflix has broken down from its previous macro support (blue), and retraced back to the scene of the crime. Currently, it is re-testing this very same previous support as newfound resistance. While I can’t suggest how YOU should trade it, this certainly appears to me as a VERY strong short set up (not financial advice). We will continue to monitor this chart and see how it reacts to this level. Stay tuned to make sure you don’t miss any timely updates… What do you think will happen? Let us know in the comments! Cheers!
NASDAQ:NFLXShort
by GarethSolowayOfficial
2
NASDAQ bottomed or fall 20% by March?Here is my chart combining channels, trend lines, and waves. You can see that the NASDAQ has been fighting to stay inside the blue channel since mid-October, but has been trapped under the black channel. If it is going to hold, then this would be a good place. That would keep the blue channel bull rally intact. However, this week's rejection off the top of the channel is not a great sign. There is still a good possibility that we still need to complete the wave C of the larger ABC correction before this is over. Right now, Wave C stands at a 0.618 fib extension of Wave A which is pretty small. If it goes lower, then a bounce and support at 0.786 seems logical, which is around the peak before the COVID crash. That could be a good long entry. I would not rule out something closer to the 1.0 level before we are done. If that does come to be, then that takes us down to the red trend line created off the bottoms of the 2018 and 2020 corrections. That is the 9000 range (could overshoot down to 8700) and would be a great place for a big long entry. Anything lower than that, and, well, lets not think about.
U
by Dr_Roboto
AAPL Testing Crucial ZoneHere we are looking at AAPL on the Daily TF… In this chart, AAPL is testing a crucial zone as resistance, which acted as previous macro support dating back to September of 2020. As you can see, there is also a downwards sloping resistance forming as well, which it’s testing as well. In testing its previous macro support as newfound resistance (red) and local resistance (light blue) simultaneously, we can conclude that this test for AAPL is crucial in determining what comes next… I will continue to develop this test of resistance as the chart develops, and update the idea once it breaks in either direction! What do you think will happen? Cheers!
NASDAQ:AAPLShort
by GarethSolowayOfficial
15
Signs before Tesla crashContent: i. Early signs before its crash ii. These signals are applicable to others markets iii. How to hedge Tesla? This method can be applied to any other markets. In segment 2, I demonstrated how you do that in the Nasdaq index. You can email me your case study on other markets with similar behaviour, we can check with each other. E-Mini Nasdaq Minimum fluctuation 0.25 points = $5 1 point = $20 10 points = $200 100 points = $2,000 1,000 points = $20,000 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NASDAQ:TSLAShort
by konhow
1
Oracle: Sweet Temptation 🔥Oracle is moving dangerously close to the resistance line at $85.58, which would activate our alternative scenario. In that case, the stock would rise further into the green target zone between $85.45 and $92.50 to finish off the grey wave alt.I before sinking back into a correction. Primarily, we expect the course to drop into the green target zone between $72.66 and $63.46 to complete the grey wave II. After completion, we predict Oracle heading North in the longterm.
NYSE:ORCL
by MarketIntel
$NDX can move 1500-2000 points lower. $QQQ down. 200ma failingAs company earnings decline and forward guidance becomes pessimistic, Nasdaq 100 has room to go back to 9000-8700. Big tech companies have already started reducing their workforce, and more layoffs may come next year. The 200ma offered support after the first leg down, but now it looks like it might give way. RSI and stochastic are bearish. Now is a good time to let go of any grip your mind has on the "big tech" stocks of the past ten years and start your list of up and coming tech stocks for the next 10-15 years. This post is not to create a scare. I am not shouting for a crash. As a 40+ adult who understands much more than the last five yrs of stock market rising - and the Covid QE slingshot - I am offering practical insight into what is possible. Add JOBY to your watchlist.
NASDAQ:NDXShort
by OptionsRising
3
NASDAQ MORE DOWNSIDE!I still see downside in 2023, the chart is showing a similar pattern to the DOTCOM BUBBLE. I just see bear market rallies and some considerable time until we see a major trend reversal. We have just finished the 2nd BUBBLE which was led by the creation of BITCOIN which was born out of the Financial Crash in 2008. The age of low interest rates are also over and the time of making easy money is over. This is just for my own trading journey and pure speculation, if you enjoy please like and comment below. Thanks
NASDAQ:IXIC
by UnknownUnicorn15453819
Anatomy of a NASDAQ interim topAn interesting set of events just occurred in the NASDAQ futures. In early November, the NASDAQ (and most market indices) spiked in a bullish rally, only to find a resistance at about 12,000 in mid-November. It then retraced to test the support at 11,560. While it bounced off the support then, there was a momentary spike down to 11,528. This is the significant low for this consolidation range at the top of the short term rally. The bounce brought it to 11830, where a resistance level was failed. This was then followed by a revisit to the consolidation range support (bottom of yellow box). About an hour ago, a lower low was triggered (red support line) and currently the NASDAQ futures is struggling to keep above the consolidation zone support. Technical indicators MACD and VolDiv are slightly bearish, boding a more likely breakdown. MACD crossed under, and remains under the zeroline. VolDiv is not uptrending, but below its SMA, and looking for a breakdown below zero line. Also noted is the green "BD" where it denotes a Break Down of an auto-plotted trendline support. The price action is a little long to the downside, and has been support hugging. It is likely to have some sort of a rebound, but what happens next depends on whether there is more juice to sustain. A technical rebound is due and appears to be forming up at time of writing. Definitely, is there enough juice to get this to the upper part of the range? The other thing here is that a decisive breakdown out of the consolidation range is needed and appears to be lining up for the later part of the week. This is invalidated IF a technical rally closes above 11850. Wait for it...
CME_MINI:NQ1!
by Auguraltrader