US100 Long Rises Higher to 15200zone,the possible correctionHi traers.
We will make a possible correction soon, as mentioned on the chart.Please scrol bac the chart above and watch and read it closely.
The Bulls are getting ready for a profit taking after CPI data on tuesday latestly after friday this week.
This happens of 2 reasons:
The bears on the top are waiting at the low voluem areas
The bulls will protect some of their winners and start to distribute
on the supports I have marked with price lables and green arrows
The RSI is stablishing a divergence , not completed yet.
The trend is definitly and absolut bullish,but we will have this necessary correction and after that a possible sideways range(Bullish range) ,in summer time, as many traders will start their holidays.
Technically the trend is healthy.
Please condsider this with proper money mangement and stop limits.
Kind regards,
Dave Brasco
NASDAQ 100 CFD
Nasdaq: Price levels and price pattern analysis Today's focus: Nasdaq /NDX100
Pattern – Ascending Triangle
Possible targets – 15,600, 16,500
Support – 15,000
Resistance – 15,220, 15,250
Today we are looking at the Nasdaq/NDX100 as price sits in a continuation pattern just below key resistance. This is an interesting set-up as we have key US inflation data coming out today, and interest rates remain a hottish topic. We have broken down the price action and pattern in today’s video and how this connects to the CPI data.
There’s no guarantee that a drop will drive buyers onward, but it could also be a driver that continues buyer momentum and could set up a new test and break of the pattern. We will be watching the core figure as it’s been the most stubborn of the three. Y/Y is expected to drop to 3.1% and the Core to 0.3%.
The CPI data is due at 8:30 am ET / 10:30 pm AEST.
Have a great day and good trading.
Nasdaq crash by🗻Double Top Pattern🗻Nasdaq is moving near the 🔴 resistance zone(15,385-$15,160) 🔴, and the formation of an Exhaustion gap can be a 💡 Sign 💡 of the end of the upward trend of the Nasdaq these few weeks.
Also, due to the Regular Divergence(RD-) between two consecutive peaks, the possibility of forming a 🗻 Double Top pattern 🗻 is very high.
🔔I expect the Nasdaq to fall to at least the 🟢 support zone($ 14,060-$ 13,610) 🟢 after breaking the uptrend line and neckline .
Nasdaq 100 Index Analyze (NDXUSD), 4-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
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Brief Summary of the Q1 for the Stock MarketThe graph of popular stock indices shows that since the beginning of the year, the Nasdaq index has managed to achieve the best result (almost + 40%), while the FTSE shows itself worse than others (about 0%). What are the reasons behind that?
The Nasdaq (NDX 100) is bullish because the index:
→ comprises tech stocks that are rapidly rising in value amid the AI-related hype. Businesswire writes that the AI industry will grow by +40% every year until 2026;
→ is less affected by concerns about bank failures in spring 2023.
The FTSE (aka UK100) is bearish because technology companies that can benefit from AI development are not heavily weighted in the index, but commodity companies are relatively heavily weighted, and the price of oil has decreased by about 13% since the beginning of the year. High inflation rates in the UK also add to the negative. The FT writes about doubts that the Bank of England will be able to curb it.
It is likely that inflation, high central bank rates (which lead to bank failures) and the boom associated with AI will continue to be relevant topics to some extent in the second half of 2023.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NQ1! NAS100USD NASDAQ 2023 JULY 04CME_MINI:NQ1! NQ1! NAS100USD NASDAQ 2023 JULY 04
On the daily chart, we see potential trend changing weakness lining up.
Market tested previous high, and stalling around the 14520 level.
Possible Scenarios:
1) Market continues to be marked up on low volume narrow spread up bars = long on retracement
2) Short on test and rejection of recent high / lower high
3) if market forms lower highs, prepare for short
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15440 14850
14089 13350
*Longer term: 13350 needs to be supported for long trend to be intact.
Price/Volume/Trend Analysis:
Weekly: NTC ave vol up bar close toward high | Up trend
Daily: UT + Lower vol ND up bar = PTC weaknesses lining up.
*NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
NASDAQ Two sell opportunities and a common buyNasdaq hit the MA50 (4h) today and crossed over the short term Channel Down as well, but the candle closed back inside the Channel and under the MA50.
This is a sell indication and unless it closes above it, we expect a test of the MA200 (4h) given the fact that the MA100 is already broken.
Trading Plan:
1. Sell on the current market price or at Resistance (1).
2. Buy on the MA200 (4h).
Targets:
1. 14550 and 14600 respectively (hit on the MA200 4h).
2. 15285 (Resistance 2 and Highs of March 29th 2022 and more recently June 16th 2023).
Tips:
1. The RSI (4h) is on a Rising Support, indicating a Bullish Divergence in contrast to the price's Channel Down. Attention is needed as this may indicate a bullish reversal for the index, so careful with shorting above Resistance 1.
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Notes:
Past trading plan:
US Inflation Trading Opportunities Ahead US Inflation Trading Opportunities Ahead
The next two days' worth of trading could turn out to be particularly interesting due to the sharp drop in CPI expected on (US time) Tuesday as well as the market being (over?) confident that the Fed is going to pause its rate hiking cycle on Wednesday.
According to the CME Group's FedWatch tool, traders are factoring in a 74% probability of no hike. The inflation data released on Tuesday could further support the argument that inflation is decreasing. The consensus among analysts is that the consumer price index will reveal a drop in inflation to a 4.1% annual rate in May, compared to 4.9% in the previous month.
A 74% chance means that stakes on the no-hike should be significant enough that if the market is wrong, a significant correction could be on the cards. A 74% chance is far from certain, and we might see a replay of what happened in the Canadian Dollar a week ago, where the market was confident that the BoC would continue its rate hike pause but was surprised when it came through with a 25bps hike.
Assets to watch will be US indices, US dollar pairs, and gold. Last week, the S&P 500 achieved a significant milestone by gaining 20% from its October low. Meanwhile, the Nasdaq Composite has experienced an even more remarkable performance, soaring 33% from its lowest point in the past 52 weeks.
Optimism in these two indices might wane with inflation read above expectations (although the data is coming in too late to have a major impact on the Fed decision the following day).
US dollar trades against the GBP might be in play with UK-based economic data causing a bit of turmoil and uncertainty. The Pound has recently declined from its highest point in the past year, which aligns with a rise in the two-year bond yield, reaching its highest level since the market turbulence that followed Liz Truss's mini-budget announcement.
NQ1! NAS100USD NASDAQ 2023 JUNE 12NQ1! NAS100USD NASDAQ 2023 JUNE 12
Significant Weakness observed on daily bar (Friday 09 June) as market is marked up on ultra low volume S>D bar.
If mark ups on low volume continues, tighten stops and don't chase longs. Prepare to look out for short opportunity.
Possible Scenarios:
1) Market continues to be marked up on low volume narrow spread up bars = tighten stops on longs / wait
2) When additional weakness emerges = Short on test and rejection of recent high / lower high
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15269 14575
*Longer term: 13350 needs to be supported for long trend to be intact.
Price Volume Analysis:
Weekly: Ave vol up bar close off high = NTC weakness
Daily: 09 June ultra low volume S>D up bar
*NTC = Non-Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
NDX possible 5-wave impulseSimilar to my SPX idea, the NDX seems to be forming a 5-wave impulse off the back of the AI enthusiasm. I expect a bullish pullback to pull the index lower towards the 61.8% Fibonacci retracement level of $14,000 which will flip from a resistance to a support. A break below $14,000 will allow the index to slide into the support range between $13,500 and $13,700. A break below the 50-day MA currently at $13,330 will invalidate the 5-wave impulse.
In terms of technical indicators, the daily RSI is heavily overbought which supports the notion of a pullback towards the support range. The daily MACD is holding a strong buy signal, but it is showing signs of rolling over.
nasdaq updateI was really waiting for the market to go from the minimum numbers to the correction of the E wave, but this wave has reached its maximum numbers, which shows that the next correction wave is more time-consuming, but there is great power in the next upward wave.
I think this week we will see maximum numbers in the index and there is at least 3 months of correction ahead. Although there is a high probability this will be
Continue until the end of 2023
$IWM, #RUTAMEX:IWM , the Russell 2000, experienced a significant move on Friday, June 2nd, accompanied by high trading volume. On the daily chart, it successfully broke out of its structure, indicating the next potential levels at $185-190. If it manages to surpass this range, it could potentially reach $200 and even $220. It is worth noting that there are several bullish setups observed in mid-cap stocks.
NQ1! NAS100USD NASDAQ 2023 JUNE 05Continuation long from previous analysis was in order last week.
Minor weakness has appeared.
Possible Scenarios:
1) Continuation Long: Long on retracement. Down bars has to
be on lower volume.
2) Previous supply zone 15269
Exercise caution if you see climatic bars into this level. Market
may rotate to work out demand and supply.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16646 15269 14575
*Longer term: 13350 needs to be supported for long trend
to be intact.
Price Volume Analysis:
Weekly: Ave vol narrower up bar close off high = NTC weakness
Daily: 19 May UT bar, ave vol= = potential weakness
*NTC = Non-Trend Changing
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
NASDAQ: Overbought and in need of a technical pull-back.Nasdaq hit the 1.236 Fibonacci extension which was our target on the last call we gave and has turned overbought on the 1D time frame (RSI = 71.555, MACD = 292.250, ADX = 40.204). We are expecting a pull back to at least the 1D MA50 and the HL trend line. The most optimal buy signal will be when the 1D RSI touches its HL trend line. Next long term target is R1 and the 1.5 Fibonacci extension (TP = 15,300).
Prior idea:
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