The flag formation in the nasdaq is one of those formations that basically forces you to be a believer in chart formations. If you didn't believe that humans have essentially programmed limits once money gets involved, take a look at this chart. Usually you don't see formations this perfect on the higher time frames. It's actually pretty amazing how tidy this...
Had a question on social media this morning about where to place a stop loss on a day trade on the Nasdaq futures.
Gamma Squeezes in TSLA, SQUARE and AMD provided cheap entertainment for the Chasers. The Indices closed on the LOWs - Exclamation Point. IT IS DECISION TIME. Traders are beginning to unravel the mysteries of the RR Market at the FED. The Treasury has announced it will take "Extraordinary Measures" as Congress enjoys 6 weeks of break. Evictions began in...
price is between the entry and our target. I showed a couple spots where you could have and maybe should have gotten in and out of the position to save yourself a couple dollars. Those are some difficult concepts to include in your trading if you are simultaneously dealing with the emotions of managing a trade, but if you can keep them in mind maybe you can...
nq is looking bearish to me on all time frames. At this point I'm going to enter in a trade. It's pretty expensive to take 60 points of risk, however, you can do this without much stress using some micro contracts. For one contract of the mini it is right about $1300 risk looking for $3900 reward. In equivalent units that equates to 2 months of living expenses in...
Lots of things going on here, and the short setup is looking pretty good. Never tell the market what to do, but it is setting up pretty well if it chooses to use that previous lower high as a point of turning lower for a spell.
This is only one time frame, you should be considering the perspective from several other time frames. If the bigger picture is not giving you anything then there is no need to go lower. In this case the bigger picture is showing that short setups could be on the horizon, therefore, looking lower you might want to wait for signs of bearish price action/formations...
We now hold 30,000 Shares of SQQQ @ 8.21~ 8.07 was the prior low, followed by 8.12. SQQQ will surprise to the Upside as NQ is wrecked.
Chasers in TECH will be Lit Up into August. Divergences are at extremes.
strength during the open. why do i post on here?
Idea for Nasdaq: - 15% correction by Gann. - Nikkei also seems to be telling 15% move next - 40% possible: GLHF - DPT
Looing for the NDX (nasdaq) to break higher as the SPX has done already.
With the March 2020 drop as the reference point, price rejected the mid-point between the 2.65 and the 2.764 level after a double-top. Currently finding resistance at the 2 hour 8 EMA with the 2 hour 50 SMA above. FOMC tomorrow, status quo expected with "a long way away from our goals" to continue.
NQ RSI is almost oversold but the other indices have a lot more room down before going oversold. Also, the daily chart looks like crap.
As Kuh Kuh Cathy Woods finds God and re-discovers "Faith" in investing - her flock discovers the very same religious experience. Faith in Central Banks ability to backstop Markets is accelerating. The phenomena is not limited to TECH, it is global and it has expanded to every Capital Stock - Real Estate, Equities, Commodities and Bonds. Crypto and the Metals...
NQ is behaving differently and remains the most overcrowded trade of all Instruments. The higher Targets, as absurd as they may seem, have an increased probability of completing the Blow Off in Tech. As improbable as this may seem, it has a higher probability at this moment in time. There is immense Risk into TECH EPS next week. The decline in overall demand...
No one will read this which is a shame as the Super Cycle wave relationships are as close to perfect as possible; meeting all of the Elliott Wave Theory standard fib relationship criteria. Everyone is calling a top soon, but I don't think they fully understand the length of correction we're likely entering. After today's price action, super cycle wave 5 is...