NQ Wednesday 14th August Alot of updays for Nasdaq, Wednesday could suit a reversal or continue pushing higher.
UNF1! trade ideas
NQ Power Range Report with FIB Ext - 8/14/2024 SessionCME_MINI:NQU2024
- PR High: 19128.00
- PR Low: 19087.00
- NZ Spread: 91.5
Return back to daily Keltner average cloud (20-32)
- QQQ gap fill above 455
Key scheduled economic events
08:30 | CPI (3x)
10:30 | Crude Oil Inventories
Evening Stats (As of 11:25 AM 8/13)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 465.90
- Volume: 20K
- Open Int: 239K
- Trend Grade: Bull
- From BA ATH: -9.0% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NQ Major Trend RetestWhen I saw NQ break its major uptrend from 2023, my immediate thought was that it would lead to an extended sell off, which it did, but it was short lived. NQ has returned to the trendline in a matter of weeks and closed nearly right on it heading into CPI. I expect fireworks based on where ES, NQ, and VX are all at along with many mega caps and semiconductors as well.
I think this is a perfect setup, it may not work and it sucks it triggered in the final hours of the day before CPI. I didn't feel comfortable taking a max size position, which is usually what I do when I see something I think is this good, but I didn't want to risk too much heading into major data releases and other chaos. No need, we should have plenty of opportunity to short in the future if I am in fact right about the market crash.
Remember you don't have to trade every day, most profitable traders don't. You'll end up netting a lot more cash if you spend more time planning and journaling trades while focusing on improving your most detrimental flaws, rather than trading only to make a profit.
2024-08-13 MNQU2024 Test TradeRisk $50 on trade. Entry is proximal line of demand zone. Stop is 2% below the distal line. Profit target is 2% below proximal line of selected supply zone.
Either way, it’s gonna sellWanna see it sell hard when the news comes around. So let’s see some stops get ran out baby!
NASDAQ - BUY BUY BUYThis is the News they will use to push higher also within a Return to Previuos Level Pattern
Time to make money
Target 19499
SL 18,287
Need to know market risk
Stocks rose and bond yields fell after the latest US inflation reading fuelled speculation that the Federal Reserve will be able to implement its much-anticipated interest rate cut in September.
US PPI came in lower than expected.
Dollar and US Bond Yields (The interest paid on USD Bonds) weakened.
S&P 500 strengthened
20240813 NQI anticipate one more subdivision to the upside on the HI news at 8.30am. The PA can make higher move and create a bigger top spike. I anticipate -Po3 today with reversal to the downside after the initial upside reaction to the HI news. My downside DOL is equilibrium of the last dealing range and 15m+OB
NQ Power Range Report with FIB Ext - 8/13/2024 SessionCME_MINI:NQU2024
- PR High: 18652.25
- PR Low: 18628.50
- NZ Spread: 53.25
Volatility declining, inching above previous week high
- AMP raises margin requirements for expected PPI volatility
Evening Stats (As of 11:15 AM 8/12)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 465.32
- Volume: 10K
- Open Int: 235K
- Trend Grade: Bull
- From BA ATH: -11.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NDX NQ Futures - Election Woes?Taking a quick look at NASDAQ - it's a bit premature but very possible we are in the beginning phase of the creation of a right shoulder in a head and shoulders formation. Again, premature and totally unconfirmed at this point, but I wanted to point it out at a minimum and get your eyes on it.
I discuss in the video how to measure this kind of formation, but if (big if) we break down in this election cycle, we should see a capitulation-style move going into EOY that could take us back to November 2023 lows. Down in the low 14000's which would be something nobody is keeping an eye on.
Getting above 19000 on NQ futures would be a big deal and would help build confidence that this is not a head and shoulders formation and we are in a decent recovery phase.
Don't overtrade - today in particular was pretty choppy with only a few good names out there from a day-trading perspective.
20240812 NQI anticipate little bit more to the upside into the w sibi CE level and reversal to the downside. The downside DOL is an equilibrium of the last dealing range and 15m +OB as dynamic support.
NQ Power Range Report with FIB Ext - 8/12/2024 SessionCME_MINI:NQU2024
- PR High: 18659.00
- PR Low: 18515.00
- NZ Spread: 321.5
No key scheduled economic events
Approaching daily QQQ gap >455.00
- Holding Friday range at previous week's high
Evening Stats (As of 11:35 AM 8/11)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 489.39
- Volume: 23K
- Open Int: 232K
- Trend Grade: Bull
- From BA ATH: -11.2% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NASDAQ-100. A POTENTIAL SYMMETRY PERHAPS IS THE NEXT BIG THINGPolicymakers at the U.S. central bank on Wednesday held interest rates steady, although Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut could be on the table.
A Day later stocks heavily sold off Thursday (again), with the Dow Jones Industrial Average (DJIA) tumbling nearly 500 points, as investors’ fears over a recession surfaced.
Some fresh data stoked fears over a possible recession and the notion that the Federal Reserve could be too late to start cutting interest rates. Initial jobless claims rose the most since August 2023. And the ISM manufacturing index, a barometer of factory activity in the U.S., came in at 46.8%, worse than expected and a signal of economic contraction.
After these releases, the 10-year Treasury yield dropped below 4% for the first time since February.
These weak data releases come a day after central bank policymakers chose to keep rates at the highest levels in two decades, when Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut could be on the table.
Labor situations is on the radars also, as fresh unemployment data expected on Friday, August 2.
The Federal Reserve risks further weakening the US economy and tanking US stock markets.
As the unemployment rate has risen in recent months, it has fueled speculation that the strong labor market is cracking and pointing to potential trouble ahead, with full-time employment in the US declining by about 1.23 million jobs over the past 12 months, and part-time employment adding about 1.52 million jobs (May'24 data).
While much of the attention of financial analysts in June and July 2024 was focused on the Fed's rhetoric, inflation and manufacturing statistics, the US unemployment rate, which is recovering from its 55-year lows, is much greater thing.
In technical terms, June'24 will be the 4th month in a row, US unemployment rate is above its 26-week (6-month) simple moving average.
Historical backtest analysis of the entire history of data since the end of World War II indicates that the onset of a recession in the United States is just around the corner.
In any case, such labor market symptoms have always, in all cases without exception, signaled either an already occurring or an imminent US recession.
The main graph (Nasdaq-100 Futures cont. contract) indicates on a potential symmetry for further bearish development. with the nearest target roughly S14'000 mark (that is corresponding also to 5-years SMA).
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
Weekly Review 08/05/24 - 08/09/24this is what I saw this past week. Is there anything to add or change?
MNQ weekly updatethe Nasdaq close the week with a hammer candle off the 40EMA with strong volume. This signals that bulls have step in.
Drt levelsFollowing Ali khan's Dealing Range Theory we can see some very useful levels. A break of the original DR usually begins a final retrace pattern into the parent Dealing range
NQ Short IdeaNQ finally broke below its major uptrend for 2023. This is one of the most important charts right now in my view. This trend break is everything. Despite a big recovery, NQ remains well below this trendline. It has not retested since it broke and it looks like bulls may wanna push it all the way back up for a retest.
I would fully expect a rejection here on the first try, probably a large one, but it could obviously be yet another dip buy for bulls if it does reject. Either way, if bulls can not reclaim this trend, the downside will continue. I think this short would be one of the best opportunities we've seen all year if it goes back for a retest and actually rejects.
