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SNAP May be an incredible buy opportunity based on Market PhasesSnap Inc (SNAP) hit new lows last Friday, completing a disastrous -90% drop from its All Time High (ATH). The stock market fundamentals couldn't be more negative and is the reason why the majority of the market is expecting the price to drop even more. Few are thinking to enter Snap here and who can blame them? However based on Dr. Jean-Paul Rodrigue's infamous Market Cycle Phases, the stock may be an incredible buy opportunity on the long-term as it appears to be trading in 'Despair' territory, below its mean and at the end of its 'Blow off Phase'. The Public and Dumb Money started entering during the Mania Phase, which is dominated by Enthusiasm, Greed and Delusion. The 2022 drop has spread fear, the price capitulated and all that is left now is to reverse on investors' despair and return to the mean. Does it look like a solid long-term buy opportunity to you? ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:SNAPLong
by TradingShot
4
NASDAQ - a bear rally turn to downside target updateJust a quick note that the recent NASDAQ (bear) rally appears to have run its course; on the 1H chart, it had a series of Lower Highs and Lower Lows (white lines), and appears to have completed the trend change pattern by breaching the support from the first Lower Low (red line). Given this pattern completion, a typical breakdown of the critical support would see a fall out to the next significant support level. Two of which are close to each other, and about 10,600. The MACD is supporting this view with the MACD crossing under the Signal line, and both crossing down into bearish territory below zero. In alignment, the Volume Divergence has similar cross down / cross under as well. The described breakdown happening in the Asian market hours might see a struggle to keep at the support level area and a probable dive later today at the pre-market opening or early market open hours. Having complete the pattern to the projected target present yet another breakdown which might see an overextension (perhaps early next week) to below 10,000 on the NASDAQ, as earlier expected to meet the downside projected target. An early warning to brace well as we go into the weekend and roll over to next week…
CME_MINI:NQ1!Short
by Auguraltrader
NASDAQ has more downsideThe NASDAQ futures are ominous... for more downside movement, given that the first projected downside target has been hit, and exceeded. The NASDAQ weekly chart is bearish looking, with technical indicators supporting that view. Still aiming for <10K (9600). The daily chart has slightly better technicals on the MACD, but it is probably an artefact of the Thursday surge. Nonetheless, the Friday wash out bearish candle left no prisoners with closing at the YTD low. Bearish momentum is clear and present.
CME_MINI:NQ1!Short
by Auguraltrader
Nas 100 Correction (Official Bear Market) The Nas100 is at an important cross road after the close of the monthly candle of September 2022. The manner in which the monthly candle has closed may indicated that the Nas100 just gone from bull and now into an official bear market according to price behaviour. We can also see that price has created a change in market structure by means of a new low, which may signal the start of a bear market. This type of price behaving was last seen in 2008 when the Nas100 went into a correction of about 40% before creating a market bottom. We expect that a similar type of correction is on the cards this time around. Since are already in a correction we could see a further decline of between 20- 37% resulting in a total of between 43% - 57% decline since the peak formed in November 2021. This is in line with the interest rate hikes currently taking place in the US and around the world, as central banks try to control the ever increasing inflation, which will lead to a slow down in economic growth, a fall in company profits and result in job losses and a fall in consumer spending. The issues taking place in other part of the world such as the war between Russia and Ukraine and the covid19 lockdowns in China, one of the worlds largest economies is also not helping current global economic lock which puts further pressure on central banks to keep in hiking rates in the bid to bring down inflation.
OANDA:NAS100USDShort
by NDOBObanks
AMD going after 2020 H&S that was ignored due to tech bubbleAMD formed a H&S topping pattern & has since broke below 100 psychological level & the neckline. It wants to retest 75, the neckline of a 2020 H&S that was bypassed because of the tech bubble. If the 75 neckline does not hold, the measured move may see a low of 49 or even a little lower.( due to the bigger H&S from ATH) However, it will be good to start averaging down in the 64 to 49 zone because of the many Fib levels in this area which may offer support. Shortterm bearish but longterm bullish. Semi-conductor & memory chips will benefit from the gaming, Metaverse, AI, Automation & EV boom. Not trading advice
NASDAQ:AMD
by xtremerider8
Nasdaq NQ hovering @wma200/mma50/June low zone;Diamond again?Nasdaq, si,liar to SPY has made 2 diamond patterns in May & June leading to a reversal with positive Rsi divergence. Could it be repeating similar set-up this Sept-Oct? It is currently hovering around the mma50+wma200+June low zone. Sometimes prices break a little below the diamond pattern first eating away the cut-losses before a reversal. If NQ makes another new low after Thursday’s economics data, it will be bad news. Not trading advice
CME_MINI:NQ1!
by xtremerider8
NASDAQ downside risk, clear and presentSimilar to the SPY analysis, the NASDAQ is actually slightly more bearish looking... The daily NQ1! chart has bearish indicators all around, and already is in the immediate downside target range, albeit earlier than projected. The recently broken supports now become resistances. The weekly chart appears even more bearish with the June lows appearing to be easily taken out, and a breakdown to <10,000 very feasible over the next 4-6 weeks.
CME_MINI:NQ1!Short
by Auguraltrader
NQ holds near-term bottom@11800;rally into FMOC bef a final dumpWith TSLA, AAPL & NVDA rallying on a risk-on Monday, NQ seems to be making positive divergences similar to June but this needs some follow-thru this week. It is holding 11800 with Friday”s hammer candle suggesting a shortterm low for the month. MACD also crossed into green territory. Another Diamond reversal pattern MAY be forming similar to June? BULLISH SCENARIO: My Elliott wave count would suggest a June low is in with the ABC correction ended. BUT I may be wrong logically with a 75 to 100 basis-point rate hike coming in Sept even with the market already pricing in a 75 pt hike. BUT MARKET IS IRRATIONAL. NQ may rally into Sept FOMC rate hike near 13k & then make a final dump on last week of Sept from an overbought condition. (NQ has to go above 13740 to confirm a higher high) No one knows where the final bottom will be before a Santa Claus rally. Possible supports are ma50, 12200 to remain within the upchannel or perhaps a retest of 11800 with the HHHL remaining intact. BEARISH CASE: NQ may rally into Sept FOMC but still comes back down to make a lower low than either 11800 or the June low. In this case, the positive divergence may extend up to an October rally. If 11800 or the June low of 11068 breaks, then the next stop will be the 10900 to 10500 yellow zone. Not trading advice
CME_MINI:NQ1!Long
by xtremerider8
NASDAQ hits the other type of bump!You could be well forgiven if you thought that the market was toying with you... in the last three weeks, we saw the NASDAQ follow through downside strongly, then ricochet off a support strongly, only to be yet again totally overwhelmed by the bears mauling the markets. In these volatile times, one need to be nimble, and this had been recently heads up in my earlier analyses. Having said all that, something interesting appears to have presented itself, particularly in the NASDAQ futures, NQ1!, and I do wonder how many had actually noticed this enigma. It will be discussed here, and we have to play the bull bear scenarios yet again; expected as the volatility is high and sudden changes can and will happen. We start with the NQ1! NASDAQ futures daily chart. We see that the week started as expected with a nice gap up follow through from last week Friday, above the 55EMA. Then with a Powell Pow-Wow, one single day engulfed and wiped out 3 days worth of gains, closing two gap ups. Extremely bearish by any standards. The following day was a weak technical rebound, and then a second bearish engulfing type of price action. On Friday, it gapped down, and made a lower low. Only respite is a late session recovery to close the day as a very interesting candlestick known as the Dragonfly Doji . This doji represents a likely bounce, and is a pre-cursor to a possible bottom, or at least a consolidation. The MACD is starting to show a bullish divergence, and it is starting to appear that a bottom may be forming. But till then, the MACD (lagging as it is) is suggesting that there is more downside or a consolidation at best. Hence, we can draw a critical support line ( the thick yellow line) where price action should remain, and close above for a bullish or consolidation range; otherwise, a breakdown to the previous downside targets is more likely. Without doubt, the daily chart appears to be more bearish than bullish, but the weekly chart has much more than meets the eye. Over the last three weeks, the NQ1! NASDAQ futures weekly candle range is clearly increasing, and appears erratic with a down up down pattern. Zooming out, the symmetrical pattern projection suggest that the NASDAQ is due for a further slide down to below 10K. The technical indicators are divergent in the sense that the MACD is bearish, and yet the shorter term RPM is suggesting some bullishness. How now brown cow? Perhaps if we also take the candlestick patterns to the next level, we might get a clearer hint. The three recent weekly candles circled represent a group of three candlesticks called a Stick Sandwich . In this set of candlestick pattern, regardless of how it looks (bearish) it is typically a bullish reversal pattern at the bottom of a downtrend. Now, to take the bullish scenario, it is nearing the end of a pattern, and the downtrend has been going on for a bit (since Nov 2021 high); so if this is a bullish reversal, then it might be a higher low on the weekly chart. In order for this to pan out, it needs to recover quite strongly over the next couple of weeks, and we can set the resistance at about 13K (thick green line). Overall, this gives us a rather large range from 11,900 to 12,900, and time is needed to see what/where the market decides. Non-technical factors adding to volatility include FOMC announcement on 21 September. Am not an expert about that, but all I can comment is that volatility both ways is a given. Hence, the range guidance. Still, keep in mind the initial and base projection down to 9500, it is not invalidated yet. IMHPO, the I think the bears have a 70/30 edge; am just ready to be nimble (particularly in mindset, perception and timeframe), as the charts are telling. I really hope you enjoyed and appreciate my rather unique analysis. Admittedly, there are parts not mentioned, but do contribute to the overall situational critical analysis. I do not mention as I am not an expert (yet) in those areas although some factors are considered in the overall analysis. More importantly, there are links for further background reading, so do click on them and enjoy the read. Looking forward to your comments... Stay safe & well, be nimble. Have a great week ahead!
CME_MINI:NQ1!
by Auguraltrader
NASDAQ bump!The NASDAQ (like the SPY) did a spectacular turnaround week... Last week appeared so bearish with all indication pointing to the down draft to the last low, and this past week appears to have changed that trajectory. Here is why: The NASDAQ weekly chart closed the week the a bullish candle, one that is significant because it almost qualifies as a Bullish Engulfing (very similar less small strict technical details). More importantly, the bullish candle closed above the previous week's gap down range, a bullish indication. The technical indicators are not yet aligned as the RPM indicates upward momentum, but the MACD pretty much crossed under the Signal line. The daily chart has a clearer bullish confirmation pattern, and is a possible higher low pivot. The week had started with bearish days and mid-week came a clear Bullish Engulfing type of candlestick pattern. This was followed through by a nice bullish candle with a lower tail, and beautifully completed by a Gap Up (uncommon for futures) and run to close a previous gap down range. Oddly, it is at a confluence point of the daily 55EMA as well as the resistance of a trend line (green down sloping trend line). The really nice thing is that the technical indicators, both the RPM and MACD are aligned and supportive of a bullish follow through. There are a couple of resistances marked out, and breaking each one would give the bulls more impetus to charge upwards. Appears as if a higher low is formed, and if so, watch for a higher high (13.5K)... ranges are bigger and wider now, so have to be careful. stay safe!
CME_MINI:NQ1!Long
by Auguraltrader
1
ZM accumulating @pandemic zone since Russian invasion; next TPsZM will continue to increase user base in the next few years even if work-from-home subdues. It has made a perfect ABC correction with A=C & is has been consolidating in the pre-pandemic 102 zone since Russian invasion started in Feb 2022. The risk of worst-case scenario is very low compared to the great upsides if a new EW cycle begins after ZM breaks above the pandemic zone & go above Ichimuko cloud in the 4Q2022. Not trading advice
NASDAQ:ZMLong
by xtremerider8
APPLE on key Resistance. Failure to break can result to $150.Apple Inc (AAPL) has been on an incredible +35% rise since the June 16 Low. It is trading above both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). The 1W RSI broke last week above the 60.00 barrier for the first time since February 08. However despite the positives, here comes the most important Resistance test of all that will largely determine entering a new Bull Cycle or staying inside the 2022 Bear. That is the Lower Highs trend-line of the January 03 All Time High (ATH). As you see, Apple hit that trend-line also on March 29 and got rejected. A similar pattern was last seen in late 2018 - early 2019 at the peak of the U.S. - China trade war. If we apply a similar Lower Highs trend-line, we see that the Jan- April 2019 rally failed to break it and got rejected back to the 0.5 Fibonacci retracement level, before the next double test broke above it into a new Bull Phase. In a similar fashion, we expect Apple to have a strong rally if the Lower Highs trend-line breaks, but if rejected, test the 0.5 Fib which is at $150.00. Notice the importance of the Death/ Golden Cross formations but more importantly the symmetrical Resistance/ Support levels of the 1W RSI between 2019 and today. This can be an additional roadmap of rejection and where to buy then. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NASDAQ:AAPL
by TradingShot
3
NDXZooming out, NDX looks strong, as per EW rules the 5th wave must match the 1st wave in both time and %. That said fomo can obviously send the 5th much higher and also terminate the trend earlier. But for now in respect to the fact that EW is not a crystal ball , I would say that since I am counting the 4th wave finished on the week June 13th 2022 the bulls have until July 2023 to finish the 5th wave at my projected target of 18,600. (not accounting for any Fomo) Also I expect a correction soon back to 12,300 or there about to make the LTF daily chart W2.
TVC:NDQLong
by Big_Mike716
TESLA on a wild rise just as expected a month agoOur last analysis on Tesla (TSLA) was exactly 1 month ago, where we stated the importance of breaking above the Lower Highs trend-line in order to initiate a rally: As you see, the Double Bottom accurately signaled the end of the correction and the break above the Lower Highs, the start of a new rally. The rally is technically the sequence to a new Lower High of the long-term pattern on Tesla which has been a Channel Down since November 04. The price has now turned the 1D MA50 (blue trend-line) into a Support and on the short-term is targeting the 1D MA200 (orange trend-line). This is a symmetrical sequence by all means to the previous rebound to the top of the Channel Down last March and those similarities have helped as projected this move. On the long-term we are targeting the 0.786 Fibonacci retracement level. A break below the previous Low would invalidate this and instead signal a sell targeting the 1W MA200 (red trend-line). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
NASDAQ:TSLALong
by TradingShot
1
NasdaqI think we are in an ending diagonal within the primary 4th wave position. Inside of the larger intermediate ABC. LTF daily chart looks like we have lost the lower TL of the ending diagonal in what should become an overthrow on the weekly TF. Currently working on the Z wave which is the strongest wave of the WXYXZ pattern which usually sends the price up or down depending on whether or not the WXYXZ pattern is bullish or bearish. After wave Z a strong reversal hits. This is what my chart implies.
TVC:NDQLong
by Big_Mike716