Nasdaq100 (NQ) Tries Firming Near 2022 Low

The Nasdaq100 (NQ) slid almost 4% yesterday to start the week, and is now just a day or so’s volatility from the 2022 low. Significantly, although NQ is firmly in a Bear Market, with the Dead Cat Bounce (Bear Flag consolidation) of last week vulnerable to extending lower by next week, NQ may first stage another short covering rally before finally breaking to a fresh 2022 low…

Nasdaq100 (NQ) Tries Bouncing From New February Low

The Nasdaq100 (NQ) is trying to firm as seen by the daily Doji forming, with a moderate probability for a bounce in the next day or so off downchannel support (on the 4hr chart) to the psychologically key 14k whole figure level. Significantly, regardless of any near term Dead Cat Bounce, today’s break of descending triangle support (on the daily chart) and the January low, suggests a looming Bear Flag extension…

Nasdaq100 (NQ) Testing Daily Chart Downchannel Resistance in Busy News Week

The Nasdaq100 (NQ) rebounded a massive 3% plus yesterday, and is just shy of the psychologically key 15k whole figure level. Significantly, although NQ may break above downchannel resistance (on the daily chart) with today’s 10am EST US ISM Manufacturing data, Wednesday’s US ADP Non-Farm Employment Change, Thursday’s US ISM Services PMI or Friday’s highly anticipated US Non-Farm Payrolls (NFP), any further upside before the weekend will likely stall at the 50% Fib retrace of the November to January slide…

Nasdaq100 (NQ) Trying to Bounce Off Weekly Chart Upchannel Support

The Nasdaq100 (NQ) is consolidating yesterday’s reversal off downchannel support (on the 4hr and daily chart), but remains vulnerable in today’s European morning. Significantly, although NQ is arguably breaking above downchannel resistance (on the daily chart), the brief puncture by the weekly Hammer below upchannel support (on the weekly chart) suggests bears have the upper hand this week…