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XLK

NASDAQ failed resistanceOh oh... the optimism, much as we want it given, does not appear to be. Having bounced off the middle of the consolidation zone, a surge to the upper range resulted in a weak follow through with a lower high, and a following bearish (patterned) candlestick. The technical indicatiors are trickling downwards, and one wonders if it is going to uptick... A bearish outlook is setting in (early stage now) and few things need to firm it up, besides fundamentals and news... technically, a breakdwon of the orange trendline is needed, as a follow through to the bearish reversal candlestick pattern. VolDiv should dive further down, as should MACD be clearer (tends to lag). The SG10Y Govt Bond yields appear to heads up this bearish outcome too... so watch it happen in real time.
CME_MINI:NQ1!Short
by Auguraltrader
Bullish Cypher C leg Short on Apple Target near $100Looking at the 3month chart of Apple. I see $180 max target followed by a massive C leg short of the bullish cypher pattern. The Apex of the triangle is around $140.00, This also likely signals the USA Economy True Recession (Reset), Dare I say Peak IPHONES... The D leg bounce of the bullish cypher (near 100) back to the B leg or the Apex near 140, if it rejects we fall to $56.00. This is just a forecast, feel free to challenge me on this. Post a Chart, don't tell me what you're thinking.
NASDAQ:AAPLShort
by moneyflow_trader
Bouble bottom confirmed! $IOTAfter a double-bottom, the stock price pulled back to support and now is breaking out and getting near its IPO price. The OBV is already above its IPO levels and the MACD keeps trending higher. Also, AMEX:XLK is the leading sector, this should help NYSE:IOT price action. I entered 1/3 of the position as the market still needs more work to get aggressive. Samsara provides an end-to-end solution that allows businesses that depend on physical operations to harness IoT data.
NYSE:IOTLong
by dpuleo19
1
NASDAQ Bearish Divergence NASDAQ led the current bullish rally. NASDAQ appears to be leading the bearish divergence in this stall aka consolidation. Despite yesterday's candle appearing somewhat bullish with a long lower tail, there is a clear and present bearish divergence in BOTH the MACD and VolDiv; and both crossed under their lagging MA lines respectively. The Orange box is the consolidation range and the yellow box is the range that the NASDAQ should not be closing the day in. If it does, there is a higher probability to break down out of the orange box, into the red. And again if it closes in the red box area, the indicators should be bearish looking enough to tell that one must watch the breakdown support level next. Should be happening over the next couple of days. Now, IF there is a news related spike, it must spike above and close outside of the orange consolidation box, and then remain above the box... for the last attempt to the upside target. Heads up! Appears that we will see an increase of volatility to either side soon... 80:20 down:up IMHO
CME_MINI:NQ1!
by Auguraltrader
1
NASDAQ closes on a clear Bullish Quarter, Month, Week and DayJust an add on to the earlier analysis using the NASDAQ futures Daily chart. The weekly analysis says it all, and is in alignment. A truly bullish end to the Quarter, Month, Week and Day as described. Technical indicators are bullishly aligned. Weekly close and maintaining above 14,382 is a MUST for a longer term primary trend change to happen (above the green dotted line); currently primary trend not yet bullish. Fortunately or otherwise, there is confluence for the Daily upside target at 14,400. For more information about this point, do look into DeMark indicators.
CME_MINI:NQ1!Long
by Auguraltrader
NASDAQ - Bullish Break Out!Previously posted about the candle that broke the market's back. It continued to test resistance for the next few days, and then broke down marginally, only to fake it and in one session reversed to close at a recent high. And this followed through to close the week in a massive three day streak of higher high closes ending with a bullish marubozu! The technical indicators are all good and aligned, crossing up and looking for more upside space. Green circles mark descriptions. Clearly BULLISH. A wonderful end to the week, the month, and the first quarter of 2023! Going forward, in the short term, any pullback to test the 12,900-13,000 support area should see a quick bounce. Upside target is now 14,400 (end April, early May) In contrast, breakdown zone is now below 12,800. PS. I still see 2023 as comparatively more volatile. For now, there appears to be some stability in the trend, so I would just go with the flow until near to the time when the music stops.
CME_MINI:NQ1!Long
by Auguraltrader
NASDAQ - the candlestick that broke its backThe NASDAQ (and other indices like the SPY/SPX) appears to have what I would call the decisive candlestick(s). For the NASDAQ, it appeared ready to break out and then it epic failed with a long tailed dark cloud cover type of candle. Speaks so much to say that it is heading down. IF it is as expected, then we should see a break down below the red box (outlined yellow), the break down area. This are holds a number of supports and breaking down below should see it pushed to 11750 support area around mid-April. IF this is a wrong technical read, then 13,000 shoudl be easily attained and maintained. At this point, I do not see that happening, if at all. Still early in the down draft, so technical indicators are not yet aligned. Note to add... SPY's candlestick closed the gap as well!
CME_MINI:NQ1!Short
by Auguraltrader
2
XLK Update (daily chart)XLK is at a key area of resistance at Gann 145.11. It either breaks through this resistance next week to seek the Gartley 1.618 extension near the Gann line (151.77), or it repels downward to form a short term double top. I note that SOX index appears to be at a level of resistance, although it's ETF counterpart SMH appears in the clear above the Ichimoku cloud. I would watch the RSI (9) trend, which took a turn downward on Friday, although I'm discounting that observation a little since Friday was a weird day with options expiration. XLK is worth watching, since it is one of the few S&P sectors that is currently showing strength.
AMEX:XLK
by UnknownUnicorn13101
SOX Update (weekly chart)SOX, as well as the broader XLK, has diverged somewhat from SPY, and remains stubbornly above the 52 week EMA. The red D point is a longer term Gartley target based on a 61.8% retrace from point C. However, it is still in an Ichimoku resistance area, and has potential to reverse. Key support areas are; 1) 2854 -2794 DOJI, and potential pivot area 2) 2848-2742 Blue Point B, a prior swing high and potential pivot area 3) 2838 Gann Confluence Point and potential support Should pivot areas 1) and 2) above fail, the final point to watch is the Gann Confluence around 2838. A fail below this point would be bearish. Also, an extended stay below the 52 week EMA would be bearish. Presently the chart sits above the longer term downtrend set from 1/22 high to 10//22 low and has a ways to go before that channel should continue.
NASDAQ:SOX
by UnknownUnicorn13101
1
NASDAQ Bounce - how high??Someone gave me a heads up earlier this week that ChatGPT returned an answer to say that the market will tank on 15 March 2023. While I see it a little more different, I still keep an open mind as a lot can happen in a week (as we know in recent years). So first up, ChatGPT is an amazing quantum leap and it is one of those triggers that form a tangent in our development time line. To me, broadly this is like when Google met Siri/Alexa. That said, perhaps the 15 March is a collation of expectations. Nonetheless, looking into the technical picture for the NASDAQ futures, NQ1!, gives a technical collation of the happenings in the past weeks. Previously, a retracement target was marked out on the weekly chart (faded yellow ellipse). Since then, the NASDAQ made a lower high, and pulled back to the 50% Fibonaccie retracement level and support level about 11,800. And Friday clearly broke out of trend. So, now how? First, we look at the green and red dotted lines. These are the TDST levels that need to be broken to have a trend in force. According to the current TD Sequential, the NASDAQ is still in a bullish trend, and just finished a Buy Setup on Thursday, hence a clockwork bounce thereafter expected (and happened). Next, looking at the range support resistances, we see the green and red rectangles. Breaking out or down with a decisive close and technical alignment (MACD and VolDiv) confirms the trend. Taking into account the MACD and VolDiv, both are retracing, but are not yet bearish. So taken together, we can expect a bounce, which probably just started. Watching the strength of the bounce is critical, and the first check in point is about 12,500. A trend line connecting the last two highs also point to an approximate area at 12,500 (yellow ellipse). Noted, the MACD is weakening, and so is the shorter term VolDiv. So not yet crazy bullish. Overall, expecting a lower high (at this point). And going back to the "15 March", although long range analysis not shown here, it appears that May to Oct is a deeper down time. Will update on this in time...
CME_MINI:NQ1!
by Auguraltrader