NQ is in bear flag, as long as it holds those highs it shouldNQ is in bear flag, as long as it holds those highs it should see lower lows imo
Simple distribution and premium kill all day.
All the money seems are made during the open, now algo game
I would not do options, unless in and out as those loose value quick
VIX closed its gap and still in consolidation mode.
Ideally we bottom in Nov and see a good rally into Jan high.
NQ should see around 8.5k imo, waiting for the capitulation move
For now range trade, in and out.
Nq100signals
NQ as long its below 10990-11000 its bearishI missed am rally, exited one long from yesterday at the open and didnt re buy again, was too slow
Now I have added back to my swing short here (some was sold at my 645 and 685 levels I posted yesterday)
Watch that bold support line, its a very important place for the price!
Congrats to those who took a long this am!
I was saying about this rally yesterday it came super fast.
Its Fri, do not over trade! Have stops if you are in green, it can turn against you at any time!
NQ support got sliced!10905NQ got sliced, now its a resistance. Want to see at least 1h candles to hold that level if tested to confirm the breakdown
Im still not in a crash mode till at least after the elections. But as mentioned before Nov will /can be very volatile and red month!
ES tested the broken support from the bottom.
I have entered with small long, will add
Look where NQ closedYou tell me if its bullish setup into next week or not.
Gaping up and holding the breakout (white line) support/resistance will be def a breakout, otherwise Im not in that camp, even if its going to gap up on Sunday open.
All ES and SPX extensions I was looking, got hit.
Monday can be (and I think it will be) a very bearish day, lets say Spooky Monday!
Cant say happy Halloween as I dont cheer or celebrate dark/evil holidays, but it def can be one for the markets.
Have a great rest of your weekend, I will update SPX chart tomorrow.
NQ is in clear bear flagI didnt have much time on research today, busy day.
But I did spend some time on the NQ, as I didnt do NQ update for a while.
I will also add comments to this post after I do my other research and go through few others updates I follow.
So stay tuned, high chance this chart will get updated with extra comments several times.
So as you can see on the chart, we are in a small (compare to the rest of the year) bear flag and we are already in most overbought conditions for this year including TRIN number and volume.
My best extension (if it was not topped yet and they will push it higher before the elections) is at 12110-50NQ, with the top of the channel at 12250-300.
But first it has to close above recent highs - 11750NQ
I do expect a yo-yo style (outlined on the SPX yesterday) going into EOM and then Midterms.
But the ideal target for this year is actually at 8-8.2k zone!
I know it sounds crazy, but hey wasnt today's numbers crazy early this year?
Some are still in denial.
I do not call for a crash any longer, as we are out of that window astrologically and cyclically but I want to see another 25-35% cut from today's levels before this is over and we bounce hard into a bigger B wave
No new highs next several years at min, maybe after 2026 if not 2032. I do expect 1999 and 2009 pattern, check it out.
Again I might be wrong as anyone else out there, but this is my long term view, gotta stick to it till I see clear changes in trend.
My plan for the short term is the same, its short tomorrow (Im already swing short) into EOM or 1-2nd FOMC rate decision) which should spark a rally and ideally mark the temp bottom going into the Midterms.
They might make a big hike and stop for this year. Canada already increased .50 points instead of .75 points today, so FED can surprise.
After the Midterms is where it gets tricky, I think we will have a last move down into week of 21st of Nov low, that should mark the low for the year.
Can we extend into next year, yes we can, I will be updating you with my view going forward into mid of Nov.
If something not clear, just shoot a question below this post.
Here is zoomed in chart
Also please dont forget to press that 🚀 sign under this post to push it up in algos for others to discover.
NQ had only 50% retracement off todays lows!NQ is so much weaker then the ES, it got up to 50% retracement when ES had a perfect 61.8%
Also on this move down it made a lower low, def leading to my eyes.
ES has bullish setup, NQ has more room to go before its going to test the uptrend channel.
Todays close will be interesting. If weak, then tomorrow we can gap down