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NASDAQ breaks down hard... and there is momentum indicating that there is more downside, extending beyond the last low. Weekly chart ended the week with a marubozu type candlestick where the close is at or near the low, suggesting downward momentum is strong. This is seen in the daily chart where the breakdown occured on Thursday and strongly pushed down to then Friday very near the low. The increasing candlestick length suggests similarly as well. While the weekly technical indicators are not as bearish yet, the daily technicals are indicating a down week to follow, extending beyond the last recent low, perhaps for a day or two. 11,000-11,200 becomes a critical support level for the next week. Let's see how early next week turns out... whether there is more downside (as Monday reveals down) or a spike down and stall. Currently expecting the former, with space up to a further 10% downside. Stay safe!
CME_MINI:NQ1!Short
by Auguraltrader
NASDAQ to break 13KJust an update that a few technical and correlation points suggest that the NSDAQ is likely to break down below 13K. First up, the breakdown from the consolidation zone was very strong with a gap down and runaway to form a long down candle. No lightening of momentum observed yet. Next, there appears to be a potential for crude oil price spike. In order for such a spike to occur, there must be a significant event expected to occur. Such an occurrence would also push the NASDAQ down below 13K. Noted that the lower Bollinger Band is also near 13K, so that may mitigate the downside... hopefully. Yesterday's close in the white rectangle box was indicative of downside momentum, and can expect some follow through. The yellow box is the projected extended downside expectation; which brings the possibility as low as 11,880. This is IF support breaks and close below 13K. 12,780 next immediate support below 13K.
CME_MINI:NQ1!
by Auguraltrader
Microanalysis of the NASDAQ 4HIn a follow up analysis of the recent favourite, the NASDAQ futures NQ1!, it appears that a possible higher low above 13K has been registered and it is now consolidating below 13,360 (yellow line). Any effort above has been met with swift downdrafts (red ellipse marking the upper tails). If this continues, a breakdown below 13K is expected, and currently is expected to 12,800 target. Alternatively, a 4H close above the yellow line would signal a breakout of the consolidation zone, and affirmation of a higher low near 13K support. Technically, 60/40 skewed towards the bears. Is this the calm before the storm? Asian into European opening hours would be interesting...
CME_MINI:NQ1!
by Auguraltrader
18
NAS100 H3: PT 15 750 XABCD Bears: SHORT IT! (NEW)Why get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! NAS100/QQQ H3: PT 15 750 XABCD Bears: SHORT IT! (NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because short-term I expect more losses / 5% pullback off the highs. 🔸 Summary and potential trade setup ::: NAS100/QQQ H3 market overview/outlook ::: XABCD Bears in progress / speculative setups ::: BEARS short from overhead near 16 900 ::: shorting makes sense ::: 5% pullback warranted off the highs ::: TP bears is 15 750 points ::: upside likely limited from here ::: means we will get more follow-through selling ::: STRATEGY: SHORT RIPS/RALLIES /NEAR D / PRZ ::: Bears TP is 15 750 points. 5% pullback. ::: Expecting MILD gains next 1-2 weeks ::: recommended strategy: SHORT IT / SHORT RIPS ::: hit resistance time to cool down a bit ::: no fast/miracle gains here - patience required ::: good luck traders 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BEARS/PULLBACK ::: Sentiment outlook mid-term: MIXED/RANGE RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
NShort
by ProjectSyndicate
2
NASDAQ exactly followed the predicted path: what's next?NASDAQ now appears to be in the fourth wave as predicted in the post below. This is what I had said: "...the second fourth wave could start in two weeks (between 17-24 February) from around 9700." What's next? The fourth wave can take a number of shapes but if it is a just an ABC correction, then wave A may already be complete and we could move up in wave B early next week, followed by a fall in five waves of wave C. Wave C could take us down to around 8850 if it is 1.68 times the length of wave A or to just to around 9200 if it is equal in length to wave A. Alternatively, wave 4 could be a triangle as shown in the chart below or a more complex correction. A triangle will be a shallow correction but is expected to take more time to complete. Let's see how it evolves. PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
CME_MINI:NQ1!Short
by ndau